Hello BP community, I’m a newbie so bare with me... I’m finding distressed properties with motivated sellers but these properties rehab expense will cost more than the ARV!
For example I can get a seller to come down to $5,000 for the property but the repairs can easily be a 30-45k rehab meanwhile the ARV is only 30-35k.
Any advice right now will be helpful, My role in this deal is to be the wholesaler I need to make sure that there is profit for me and the cash buyer. Thanks for the advice!
At those prices, my advice would be to look at higher priced properties. Find a property for 35k, that needs 15-20k in work and has an ARV Of 70k
You simply can't flip a house with that low of an ARV that needs that much work. As stated above, need to find more expensive houses.
well now you see why the seller is motivated lol...
Sounds like that defeats the whole purpose. If the ARV is not there, how will 2 people profit? Hold out until you find a better deal with more profit potential.
sometimes empty lots are meant to be....
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