Wholesaling High-End Houses
Hello BP. I have a what seems to be a VERY good lead for a wholesale. The seller is very motivated. The daughter wants her elderly mom who's not in good shape to move out of her really big house and into hers ASAP so that she can care for her. The house needs plenty of minor repairs and does not want to deal with the conventional way of selling through a realtor. I had a great conversation with her and I definitely want a win-win-win deal to occur. The issue I'm having is that the house in that area (neighborhood here in Miami, FL) run at around $500K or more. 70% of that gets me to $350,000. Are there enough buyers out there that can put that kind of cash down on an "estate"? I have a couple buyers I can reach out to but most are looking for lower-end houses under $200K. Thoughts/Experiences?
P.S. this would be my first deal :/ came off a bandit sign