The Wholetail Model That Netted $81K in 7 Weeks
Bill Goodland, of Valley Home Buyers, recently landed his biggest wholetail win to date - a little over $81,000 in seven weeks. Here’s how the deal came together, and why it’s shaping the model he’s built his business around.
The Problem
The lead came in off a hybrid greeting letter. The seller was a senior absentee owner who had let a family friend live in the house. Unfortunately that friend passed away and left the property in rough shape.
The Plan
Bill bought the property as-is for $205,000, using Kiavi’s 100% financing so he only brought about $10,000 to closing on the purchase.
Rather than a full renovation, Bill planned a wholetail: address the issues that block financing and cleanliness, then let the next owner handle the cosmetic work. Renovated comps in the area were running $365,000 to $381,000 with an ARV around $375,000. The plan was to list at $299,000, aim for $285,000, and take it off marketing for a full rehab if it didn’t sell at that range.
The Execution
Total repair spend came in under $5,000. That covered a few plumbing leads, HVAC servicing and repairs, junk removal, cleanup, and professional photos. No cosmetic renovation or gutting and no full timeline of contractor scheduling.
The property was listed at $299,000.
The Results
The listing drew a $300,000 cash offer with no commissions and a $315,000 financed offer with financing as the only contingency. It appraised at $330,000. Bill and the buyer ultimately landed on $328,100 to account for additional seller assistance.
Net profit: A little over $81,000 in seven weeks, on roughly $10,000 out of pocket at purchase and under $5,000 in repairs.
The Lesson:
For Bill the deal did more than pay out. It helped him dial in the model he wants to double down on going forward.
On the rental side, he’s focused on renovating properties he plans to keep, using the cost segregation where it makes sense, and eventually using 1031 exchanges to move out of properties with poor return on equity.
On the active-income side, he’s shifting away from full renovations and toward wholetails. His ideal seller profile is now clear: senior absentee owners with properties that have been neglected or become a burden. His ideal retail buyer is a first time buyer willing to take on cosmetic work to build sweat equity.
The approach is simple: fix the major mechanical and financing barriers, get the property clean and functional enough to qualify for conventional financing, and let the next owner take on the cosmetic renovation.
As Bill put it, “There's less construction risk, shorter hold times, less appraisal risk, and a lot less overhead needed to scale. It's been a good way to keep capital moving without leaving nearly as much meat on the bone as I would by wholesaling the deal.”
Want a Deal Like This?
Bill's hybrid greeting letter found a senior absentee owner sitting on a property that had turned into a burden. That's not luck, it's what a well-targeted mailing list does.
If you want leads like this in your own pipeline, book a call with our team and we'll show you how to build a mailer strategy around your own buy box.
