Wholesale numbers

[Robert Fonner]

Hi all,

Here's a 3/2 wood frame on 1.75 acres.

ARV 95000
- 30% 28500
equals 66500

less repairs -27500
equals 39000

less b/h/s -5850
equals 33150

less profit -3000
equals 30150 MAO

I figured repairs based on 5k method (a/c 5k, kitchen 5k, windows 2.5k, interior repair,doors, and paint 5k, bathrooms 5k, and landscape and exterior paint 5k)

House needs a lot of work. Looking to flip to rehabber. Did I miss anything here? Owner is asking 125k (!) Thanks in advance. Rob

[Andy J.]

If she's thinking $125k and you're thinking $30k it's a long shot to say the least. Pretty tough to convince someone to take less than 25% of what they believe their property is worth. What's her motivation, is she in a position where she needs to sell?