I Made $20,000 in Four Days by Assigning a Contract

by Ricardo Morales
South Florida

I was driving around a neighborhood and noticed a property that had roof damage from hurricane Wilma. I left a postcard on the front door. The lady called me, and she said that she was interested in selling her house. She told me that the house had a lot of damage.

I looked at the house, and it was very nice, but the ceiling around the kitchen had caved in and the family room and living room needed flooring. I tried to get the property for $137,000, and we negotiated a price of $190,000 to close in 30 days. I printed 15 flyers and took them to my local real estate club meeting that night.

I had three offers and took the one that I knew would close without problems for $210,000. I made $20,000 in four days by assigning the contract because the property has a value of $300,000 to $320,000. This is my first wholesale real estate deal and really my second deal. This business really does pay! Good luck investing.