Offer for REO

[Jorge Gonzalez]

Hello everyone my name is Jorge I am just getting started in the wholesale flipping of REOs. I have a great relationship with a few reo agents here in the Orlando, FL area. One of my agents just sent me a deal before it goes to mls.

I am just woundering how are other investors determining offer price.

Here are some details on the deal:

SFH asking $104,000 property comps out at $190,000 sold & $219,000 active.

Please share your thoughts.

Thank you in advance

[Will Barnard]

Fair enough, what are the repair estimates and how accurate are they?
Again, if the ARV is $175k, then 70% of that is $122.5k. Then all you do is subtract out the repair costs and that is your max offer (with room to go up a few thousand if need be.)

If it is turnkey, locate a buyer at $175k, double close it using transactional funding (I can provide if you wish) and your offer can be as high as $150k and you would still net around $20k with no money out of pocket.