Atlanta, GA · Member since 2018 · 16 posts · 2 votes
Hey I'm a newbie wholesaler and have listened to a lot of the podcast episodes on wholesaling to learn more about it.
From some of those episodes there are people talking about you need a certain amount of equity in the house to make the deal work but I haven't heard a firm number on how much equity needs to be in a home to be able to do a wholesale deal and make a profit.
Is there a specific number or is it different for every deal?
@Andre Williams Depends on how much their owe on their mortgage. Several do a minimum 40% equity. Remember to target people with last market sale date of 3+ years - this number depends on how much the market grew but you are really trying to avoid cash buyers from the last couple months/years, they won’t want to see it :)