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Updated over 7 years ago on . Most recent reply

Wholesaling Fee Amount And Deposit Northern California
Hi all,
I have my first few leads lined up and when I call sellers to negotiate I need an idea of what my bare minimum wholesale fee should be. I have properties in the Vallejo and Fairfield area. I need to know a range from low to high for a wholesale fee and a low to high range for a deposit so my buyer doesnt back out.
A low to high range on total expected repair costs for a house in our area is also helpful if you want to throw that into your answer.
Most Popular Reply

As far as wholesale fee it really depends on how good of a deal you have negotiated. I would want $5,000 minimum. I would say the higher range would be 5% of your end buyer's purchase price. Most buyers won't mind you making a large profit if there is still meat on the bone. Vallejo is hot right now an if you negotiate a great deal you may want to close on it and list it on the MLS if you have access to cash.
A 3% earnest money deposit should keep people from backing out but I would make sure you have someone else lined up or the cash to close if needed.
It really depends on the area of town and level of rehab. I would say $5000 per bathroom and $7000 for the kitchen. Then call some contractors for things like paint and carpet.
I know some buyers active in Vallejo PM me if you want contact info