Iverson Hits the Market

🚀🚀Ready .. Set .. Go .. Iverson Hits The Market🚀🚀
April 11, 2025

Happy Friday everyone!! 

Three weeks ago, I was telling you about 2534 Iverson St in Temple Hills, MD. I purchased this 2BR/1BA townhome that started as a Cash Offer Lead on January 8th. With the automations of my AIGenius follow-up, I called, emailed and text messaged for several days before connecting with the seller. 

I visited the property and to get a full understanding of the condition of the

home and finalize my scope of work. As you can see it was primarily cosmetic in nature: floors, appliances, paint.

I called the following day and presented an offer and after a short back and forth, the seller and I agreed on a price. He refused to sign electronically, so I agreed to go back to the property the following day to get his signature on the contract.

The next day, he answered the door and acted perplexed, why I was there. He further explained that after we spoke, he signed a contract with another investor. he told me the name of the investor .. a known wholesaler in the area .. as well as the terms he agreed to. I wished him the best, but made a point to follow up on a weekly basis in the event the wholesaler wasn't able to assign the contract.

Three weeks into my follow up, the day before the wholesaler was supposed to close, I spoke with the seller again to check on closing. He shared the wholesaler pulled some "shady shit" and cancelled the contract.

I told him my offer was still good and quickly put pen to paper to lock up the property. We closed about a month later (seller's request). 

Thru a friend, I was referenced a guy to "trash out" the property at the nominal cost of $300!

That guy referred me to a contractor who priced out his labor right in line with what I had budgeted for in my scope of work and was able to get to work the following day. He told me it would be about 7-10 days to complete everything.

10 days later he was sending me photos of the completed project.

2 days later it was cleaned and yesterday photos were taken.

And today it is Active.

With rental income of $1800/month, and no mortgage, the property hits a 9.3 CAP rate and 38% Cash on Cash Return.

With a 20% down payment, interest rate at $8, and holding back 10% for repairs and maintenance .. the property has still has a positive cash flow.

Don't miss this one!🎯🎯