New to Real Estate · Sarasota, FL · Member since 2018 · 82 posts · 49 votes
I'm a wholesaler, I'm pretty much new to the real estate game, haven't closed my first deal yet, been at it about a year and half. I'm just wondering, and I know this is a loaded question, perhaps I am overthinking, but what makes a good deal? I know the numbers have to be right, and the location also has to be good, but what would you determine to be a good deal?
I'm asking because I realize to be a successful wholesaler, you have to understand the flipping aspect if you want to be successful.
Just as Ned has already mentioned, price is the main determinant for a good deal. It doesn't matter what neighborhood, condition, color, shape, etc as long as the price is correct.
How are you trying to find deals? A year and a half is quite some time, I am thinking you are not looking in the right places (or not enough of them)
@Christopher Sparacino A good deal for a flipper is generally 60 to 70% of the ARV. Do you want to find houses in areas that will sell quickly and have a lot of demand.
In this current highly competitive environment You need to be looking at hundreds of properties and talking to hundreds of sellers to get a deal. It’s all about volume of marketing and consistency.