OMG - 40K on a wholesale deal!!!!

My RE agent called me to give me a lead on a duplex. The elderly woman wanted to sell it and move on with her life but she didn't want to list with a real estate agent and have a parade of people coming through her home (she lived in one unit and rented out the other).

I met with her and we talked for 2 hours. Only 15 minutes was about the house. When I left I felt it was time well spent even if she didn't sell to me. I went back 4 days later and made my offer. It was a low offer because it needed so much work. I even brought a list of everything that needed to be fixed and the associated cost to fix it. I explained that the sale price and renovation cost would put me at a "retail" purchase price and I was only happy to do that if I could help her move on. She signed right then and there!

I then began searching for a buyer on craigslist and at the local REI club meeting. Today I completed the sales agreement with another investor for 40K over what I locked it in at - if all goes well I will be cashing a check for 40K first week of Jan - what a way to start the new year!!!!

Oh, and the real estate agent who gave me this lead will be getting a bird dog fee for this - a big one!