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Updated 3 days ago on . Most recent reply

User Stats

27
Posts
8
Votes
Chris Peregoy
  • Wholesaler
  • Southern California
8
Votes |
27
Posts

Wholesale vs Buy and Hold

Chris Peregoy
  • Wholesaler
  • Southern California
Posted

I am a wholesaler in San Diego but also have been buying tax deed properties at auction in Memphis for a couple years, in fact just closed on my second property won at auction this past Wednesday (won at auction for $3700, all in after 1 year $4700, closed for $25K), with an agent. 
I have an off market opportunity/lead in Memphis, however it is in a predominately "buy and hold" location, all rentals and difficult to comp for a fix and flip, so seems difficult to wholesale.
My question now has become, should I buy and hold myself!? I'm relatively new to wholesaling and my first lead looks like a buy and hold play. Am I crazy for considering this? Property sits directly on a golf course, not sure if its operational tbh, but nice location. Listed at 100K, but my lead form has owner saying she'd go down to $85K. How could I finance this purchase? 
thank you for any insight you all may have

Most Popular Reply

User Stats

737
Posts
698
Votes
Jonathan Taylor Smith
  • Rental Property Investor
  • Durham / Raleigh (Triangle), NC
698
Votes |
737
Posts
Jonathan Taylor Smith
  • Rental Property Investor
  • Durham / Raleigh (Triangle), NC
Replied

@Chris Peregoy - Can't say what will happen going forward - but looking back, those wholesalers and flippers who I know well admit that they'd be better off today if they had kept ALL (or at least SOME) of the properties they sold. As they are all now worth double or more. I've only sold a few of my properties, and wish I still had those and had bought and kept many more.

  • Jonathan Taylor Smith
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Blue Chariot Realty & Management
5.0 stars
9 Reviews

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