5 Real Estate Deals We're Thankful For: Lessons from the Field

With Thanksgiving approaching, we wanted to share something special: real stories from real investors who closed profitable deals in 2025.

These aren't theoretical examples. They're actual deals—with real numbers, real challenges, and real lessons.

---

Deal #1: The $45K Wholesale Win (Sherman, TX)

Investor: Marcus T., first-time wholesaler

The Property

• 3 bed, 2 bath, 1,600 sq ft
• South Sherman neighborhood
• Estate sale (inherited property)
• Condition: Dated but structurally sound

The Numbers

• Seller asking: $140,000
• ARV: $245,000
• Estimated repairs: $45,000
• Contracted at: $125,000
• Wholesaled to investor for: $140,000
• Assignment fee: $15,000

What Went Right

• Built relationship with probate attorney
• Heirs motivated (wanted quick close)
• Had 3 cash buyers lined up before locking contract

What Went Wrong

• Initial repair estimate was low ($35K vs actual $45K)
• Almost lost deal—buyer wanted price reduction
• Had to reduce fee from $18K to $15K to save deal

Lesson Learned

"Get professional repair estimates BEFORE you lock up a contract. I learned that Zillow photos don't show foundation issues or old plumbing. Now I always bring a contractor on the first walkthrough." — Marcus T.

Key takeaway: Accurate repair estimates prevent renegotiations.

---

Deal #2: The Quick Flip That Wasn't Quick (Dallas)

Investor: Sarah & Mike P., experienced flippers

The Property

• 4 bed, 2.5 bath, 2,100 sq ft
• East Dallas
• Foreclosure auction purchase
• Condition: Moderate rehab needed

The Numbers

• Purchase price: $185,000
• Planned rehab: $40,000
• Actual rehab: $58,000
• Holding time: 6 months (planned 3)
• Holding costs: $14,000
• ARV: $310,000
• Sale price: $298,000
• Closing costs: $20,000
• Net profit: $21,000

What Went Right

• Bought at auction 25% below market
• Great location (gentrifying neighborhood)
• Multiple offers after 2 weeks on market

What Went Wrong

• Contractor took 2X longer than promised
• Discovered foundation crack during demo (+$12K)
• Had to replace HVAC mid-project (+$6K)
• Market softened—had to reduce asking price

Lesson Learned

"We thought we had everything figured out after 8 flips. This one humbled us. Now we budget 20% contingency, not 10%. And we never trust a contractor's timeline—double whatever they say." — Sarah P.

Key takeaway: Murphy's Law applies to every flip. Plan for delays and surprises.

---

Deal #3: The BRRRR That Worked Perfectly (Fort Worth)

Investor: James L., buy-and-hold investor

The Property

• 3 bed, 2 bath, 1,350 sq ft
• C+ neighborhood, strong rental demand
• Off-market (direct mail campaign)
• Condition: Heavy rehab

The Numbers

• Purchase price: $95,000 (cash)
• Rehab costs: $38,000
• Total invested: $133,000
• ARV: $185,000
• Refinance (75% LTV): $138,750
• Cash back: $5,750
• Monthly rent: $1,650
• Mortgage payment: $1,020
• Monthly cash flow: $380 (after all expenses)

What Went Right

• Found seller through direct mail (4-month campaign)
• Bought 48% below ARV
• Forced $52K in appreciation through renovations
• Got all capital back in refinance
• Tenant signed 2-year lease immediately

What Went Wrong

• Nothing major (rare!)
• Slight delay in refinance appraisal

Lesson Learned

"BRRRR only works if you buy RIGHT. I walked away from 15 deals before finding this one. Patience and discipline beat rushing into marginal deals." — James L.

Key takeaway: The money is made on the buy, not the rehab.

---

Deal #4: The $200K Flip (Austin Suburbs)

Investor: David R., full-time flipper

The Property

• 4 bed, 3 bath, 2,800 sq ft
• Round Rock (Austin suburb)
• MLS listing (overpriced, sat 90 days)
• Condition: Cosmetic rehab

The Numbers

• Purchase price: $420,000
• Rehab: $65,000
• Holding costs (4 months): $18,000
• Total investment: $503,000
• Sale price: $625,000
• Selling costs: $38,000
• Net profit: $84,000

What Went Right

• Negotiated 12% below asking (seller desperate)
• Fast rehab (8 weeks)
• Sold in 3 days (multiple offers)
• Buyer waived inspection

What Went Wrong

• Insurance claim from previous owner delayed closing 3 weeks
• Had to replace roof ($12K unplanned)

Lesson Learned

"Everyone says MLS has no deals. That's not true—you just have to find the stale listings where sellers are motivated. This house sat 90 days because photos were terrible and price was too high. I saw the opportunity everyone else missed." — David R.

Key takeaway: MLS deals exist—look for long days on market and bad marketing.

---

Deal #5: The Wholesale That Almost Died (Houston)

Investor: Angela M., part-time wholesaler

The Property

• 3 bed, 2 bath, 1,500 sq ft
• Northwest Houston
• FSBO (Craigslist find)
• Condition: Needs full renovation

The Numbers

• Seller asking: $110,000
• ARV: $220,000
• Estimated repairs: $55,000
• Contracted at: $95,000
• Wholesaled for: $105,000
• Assignment fee: $10,000

What Went Right

• Found motivated seller online
• Had assignment clause in contract
• Buyer closed in 12 days

What Went Wrong

• First buyer backed out 2 days before closing
• Seller threatened to cancel contract
• Had to scramble to find backup buyer
• Reduced fee from $12K to $10K for fast close

Lesson Learned

"ALWAYS have backup buyers. I almost lost this deal because I put all my eggs in one basket. Now I send every deal to my entire buyer list—10-15 investors—so I always have options." — Angela M.

Key takeaway: One buyer = risky. Multiple interested buyers = security.

---

Common Threads: What All 5 Deals Teach Us

1. Accurate Numbers Are Everything

Every deal that struggled had underestimated costs. Get real repair bids.

2. Contingency Buffers Save Deals

Budget 15-20% over your repair estimate. You'll need it.

3. Relationships Matter

Direct mail, probate attorneys, contractor networks—relationships bring deals.

4. Speed Wins

Fast closings attract motivated sellers. Cash beats financing every time.

5. Not Every Deal Is Perfect

Even profitable deals have problems. Adapt and solve.

---

What We're Thankful For

This Thanksgiving, we're grateful for:

✅ Investors who share their stories (wins AND losses) ✅ Wholesalers who bring off-market deals to the market ✅ Cash buyers who close fast and keep deals moving ✅ The Texas market which continues to offer opportunity ✅ You for being part of the PropPipeline community

---

Your Turn

What deal are YOU thankful for this year?

Whether it's your first wholesale assignment, your biggest flip, or a rental that cash flows—every deal teaches something.

PropPipeline connects investors, wholesalers, and cash buyers across Texas. Join the community finding and closing deals every day.

Happy Thanksgiving from the PropPipeline team!