Investor Spotlight
Issue #5:
Featuring Tyler W. – Ohio
Who knew being Local w/ online reviews helps!!
Tyler Wehrung is a very ACTIVE client with Ballpoint Marketing. And it’s no coincidence that he has a thriving wholesaling business as well. His secret: Consistency.
About Tyler’s:
Tyler’s been in RE for the last 2 years. He still works a full-time w-2 job while running his wholesaling/wholetailing business solo. He’s added on a few rentals to his portfolio and started rehabbing last year as well. He plans on quitting his w-2 this year.
What’s important about this deal is that Tyler earned the sellers respect because Tyler is LOCAL and he had lots of REVIEWS on his website. From the first call to getting paid, it took less than 2 months.
Here’s the full story:
The Story
Seller communication:
“The seller called me and said he inherited the house he grew up in a few years back and had plans to renovate but lived 45 minutes away.
He called me to see if I would be able to give him what he was looking for. It was a farmhouse was on 2 acres that no one had lived in for probably 10 years.
He wanted 80k and didn’t want to deal with showings and agents, was looking for a quick sale. I walked it and had great conversation with him and learned his life story. I offered him $73k the next day… He said close enough. He also mentioned that he read reviews on me and was happy to support a local business trying to do good.”
Closing:
“Contract signed and closed 3 weeks later.
Ended up using hard money because it was right before the holidays and private lenders were all traveling and such.
Exit Strategy:
“Listed in the MLS for $105k. Got 2 cash offers in 2 days. Sold for $100k, no inspection.”
The Numbers
- Purchase price: $73,000
- Buying Strategy: Hard Money Loan
- Exit Strategy: Wholetail on MLS
- Re-sell price: $100,000
- Net Profit: $15,000
- Marketing ROI: 750%
The Marketing
- List: Absentee Owners w/ Equity
- How many addresses mailed to: 1,500
- Marketing piece used: BPM Template Mailer
