wholesale
Hey everyone,
Had a quick question I was wondering if some of you could enlighten me on. I am relatively new to real estate investing. I have a couple small rental properties but started a campaign with post card mania several months ago and have some solid leads coming through pertaining to flip projects. I have one elderly gentleman who is an absentee owner and has 5 properties he is looking to potentially sell. All of them are 3/2 1200-1500 sq ft basic brick houses built in 70's 80's that are serving him well as rentals. He has explained to me that he is fairly motivated to sell considering he isn't as youthful as he once was to maintain them. My question is concerning my approach. I have another deal in the works right now which is tying up my resources so my plan ( if I acquire the deal) is to wholesale it. But as far as negotiations with the owner of property, are there any tips suggestions that anyone can offer? I have done research and have laid eyes on exterior of all properties. Should I determine an ARV for each, minus rehab costs for each, and offer 70% of that sum or is there a different perspective to take when dealing with a "blanket" deal such as this. I appreciate any advice or info I receive.
Looking for