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Updated almost 6 years ago on . Most recent reply
A Deal ~ Seeking Feedback & Input
Hi BP Community,
I'm in the learning mode and seeking thoughts, questions, or feedback on a potential wholesale deal that I've identified.
Location: Belton, TX
SFH 3bd 2ba 1848 sqft The house is paid off. Vacant. Not on the market. Has rented to college students for $900 per month.
ARV estimate : $110,000 (no comps in the area for 12+ months)
Repair estimate: $18,000
Tax Assessed Value: $82,400
I'm planning to get the property under contract for $12,000.
What am I missing? What would a potential buyer want to know?
Thanks in advance for your feedback.
Jenny
Most Popular Reply

Why not purchase at or below list price of $12k. I would suggest having an agent in the area to provide rental and sales data. There may not really be a demand in the area for no comps in last 12 months. Although that does not mean this property is not a good investment. I would do due dilligence and canvas neighborhood if it is an area that you are not familiar with. Also if you do purchase and renovate think about alternative rental housing.