Realtor · Fort Lauderdale, FL · Member since 2013 · 130 posts · 16 votes
Large 4 Bedroom, 1 Bathroom Home. Could make for a perfect rental for any investors portfolio. If you add a 2nd bathroom, you could easily collect up to $2,000 in rent! Works better as a Rental property, but it does have the potential to be a flip property. There are 2 Solid comp's in the are for 4/2 around 170,000.
Comps:
2900 NW 5th Ct - Sold for 173K on 5/24/16
3421 NW 3rd St - Sold for 171K on 4/28/16
Property Does need rehab work. Between 25K and 35K, depending on which route you wanted to go with the property. Be sure to do your own due dilligence.
Why don't you close on it and list on the MLS? you will get way more money for it than just wholesaling. You could list this for 130k easily.
It's the Wholetail method @michaelquarles teaches. It's done wonder for my business. When you wholesale you only get a percentage of the AS-Is Value, if you sell on the MLS you will get 100% of the AS-IS value. and 80% of investors Shop on the MLS.
Prime example I had a property I posted for sale here recently and only got offers for like 42-45k. So I had two BPO's done on it and they both came back with the AS-IS 70-75k.. Sure enough I listed it last week and today I got an all cash offer for 70k..
This seems like a home run deal if you got it at least 10k below what you are trying to wholesale it for.
It's mostly because we wholesale a lot of properties and want to bring our buyers deals. If we don't get enough bites, that's probably what we're going to do.