Wholetailing Deal - Advice?
I've always been a full-rehab guy, never done a wholetail deal..but this came across my desk over the past few days:
Purchase price: $98,500
Retail value (in as-is condition): $125,000
ARV with medium rehab (base finishes): $140,000
I'm thinking I'll close, do about $1k in basic make ready repairs and put back on the market targeting the $125K price point and call it a day.
With this strategy, I see no way around paying realtor fees and potentially some closing costs (this neighborhood is heavy towards first time buyers). Is that typical for those who do a lot of wholetailing? Am I missing something?