I found a house that the landlord wants to sell for $33,000, but it is being rented currently for $400. Can i still do a wholesale flip or not?? Also I have less than $100 to put down. HELP ME PLEASE!!!
Can you be more specific with what you are trying to accomplish? i see "wholesale" and "down payment" in the mix and im confused.
You could likely get it under contract and assign that contract to a buyer, provided you have a buyer. However with a tenet, it would likely only be picked up by someone who is interested in buy and hold properties.
However based on the asking price and the current rent income, that doesn't seem like a great deal, so attempting to get a little piece of the action and flipping it to someone else would make it even less appealing.
Thank you @Derrick Strope for the advice!
Hi @George Villarreal it would depend on the area and what homes in that specific area are selling for & renting for compared to the deal that your actually getting. I would take a look at some local comps for both and that way you can tell if it is really a deal or not. For Example a 33k deal in California vs Georgia would be completely different as both locations are in completely different in markets.