Updated over 7 years ago on . Most recent reply
Property Wholesale or Not?
I have a property that the owner wants to work with me on. It's currently off market and I can put it under contract in an instant. How should I approach this deal? It's not rehab, it's a well maintained property with a new 3 garage from 2015, manufactured home on slab, not requiring any repairs it's fully move in ready, owner occupied. 11 acres, nice rural area. 3 bed 2 bath taxes around $2k/yr. I can't find any sold comps in the general area going back 5-10 yrs... possibly due to the small rural area. However the assessments on all properties in the area with the similar property setup is averaging $154k. Asking Price $165k. No owner financing or lease option. Property in upstate NY.
Most Popular Reply
Rule number one; you have to know what it is worth. You either need to learn the market and what it is worth or walk.
If you don't know what it is worth, why do you think this is a deal? There are hundreds of deals on the multiple list every day. Any of them I could get "under contract in an instant." Does that mean they are all deals worth pursuing?