Wholesaling Multi-family properties
Hello BP Community
I came across a nice 8 fam property in Brooklyn for sale for about 2 million. I know i can find a buyer for this property but i don't feel comfortable wholesaling properties over 1 million dollars. Should I wholesale this property outright or simply refer the property to another investor for a finders fee. Any suggestions?
If I do decide to wholesale the property, what figures will be vital in my analysis as to what to offer the seller? NOI? Expenses?
Is there a general rule of thumb formula applicable to income-producing properties like the 70%(ARV) less repairs less fee formula that is applied when wholesaling single-family homes?