Dude since you know wholesaling and you say you need to get back on your feet --- WHOLESALE it!
Think of it like this. It looks like you've got some pretty good #'s to work with on this deal
After the purchase and rehab you're looking at 140k without taking into consideration holding costs and budget busters and sticking to budget like a mad man.
You could wholesale that dude and and make TONS!!! how much money do you want to make can pretty much be the question you ask yourself on this deal.
So just for fun you say you will wholesale it for 30k. Pretty conservative considering the assignee will have 110K in equity after the rehab.
You just made 30k without lifting a finger, lining up contractors, arranging financing, not to mention the possibility of uncovering something detrimental to your profits. What if something had gone awry during the rehab and you ended up only making 50k. Yeah that's 20k more but look at the time involved, when you could have took 30 and ran to the next one.
You would then be on your feet and ready for WAR!
I'd wholesale it if it were me who'd just explained your situation as my own.
May 28 '08, 06:25 PM
