Thanks to Cam and all of you for providing the funding on my deal. I have more in the pipeline and cannot wait to implement the double close again using Cam’s funding. In a competitive market such as Nashville, TN, the double close method is highly effective. It helps to practice discretion for each transaction. And I feel extremely confident knowing I have Cam’s funding behind me while make offers in this hot market.
With that being said, the property that I just bought and sold was an Absentee Owner. She lives in California and I was able to reach her through an initial cold call. Immediately upon conversation, I knew she was a motivated seller. In essence, she was a tired landlord and since she lived so far, she wanted nothing to do with it. I scheduled an appointment to view the property, took pictures, called her back, and we had agreed on a price of $150k. She initially was asking $180k, but since I put eyes on the property, and I have been building great rapport with this seller, I was able to gracefully and strategically negotiate her down to $150k. She signed the A-B Contract without hesitation.
My end buyer was found through an investor friendly realtor who was actively looking for cash flow properties in the Metro-Nashville area. He liked the numbers and he had no problem signing the B-C Contract. He’s a serious buyer (from New York) and also had no problem submitting $2500 non-refundable earnest money to my title company, per my request (I do this on all B-C Contracts when I am double closing).
Anytime I work with investor friendly realtors, I just have them add on their fee or “commission” on top of my profit spread. That’s the gist of this deal!
Again, I do have more in the pipeline and cannot wait to utilize Cam’s no fee funding again and again, for years to come! No one in the industry (that I know of) offers this powerful service. Most if not all, transactional funding companies charges 1%-3% to borrow short term money. I am a very happy and thankful member of The Four Pillars of Real Estate. Phil Drew is a pleasure to work with, he provided details and ease of the transaction. I have found that with the double close exit strategy, that I am able to do less volume, but my profit spread is much higher! And I am able to keep more of my profits because of Cam’s no fee funding. Even if you do not use iFlip, Vacant House Data Feed, or the Cash Buyer Data Feed; Cam’s no fee funding is worth the price ALONE.
Thank you again Cam, and to your whole team. Now onto the next!