#2 Marketing Your Property Contributor
- Flipper/Rehabber
- Wilton, CT
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700K wholesale deal?
#2 Marketing Your Property Contributor
- Flipper/Rehabber
- Wilton, CT
Hi everyone.
What do you all think about expensive houses wholesale deals?
Let's say you get a 1M house under contract for about 700K
Are there cash buyers out there that pay 700K in cash? Is this realistic?
Thank you as always.
Most Popular Reply
It's a dangerous place to play without a LOT of experience in that market, sometimes there is not much difference between 1,000,000 house and 700,000 house.
We have a lot of experience in the 150,000-400,000 range ...over 100 rehabs, but 500-million is a different animal in our area.
Helped an affiliate buy one recently, looked like 1,000,000 house, sold for more than that 10 years ago. House next door was listed at 1.1.5m, a few similar had sold in development for 750k-1.25m
Realtor assured us it wouldn't sell for less then 750,000, worst case. Bought it for 450,000 , rehabbed and sold it nine month later for 675,000 lost over 70k.
It is not impossible but not probable without a lot of experience in the game at that level.