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Updated 3 days ago on . Most recent reply

User Stats

25
Posts
8
Votes
Chris Peregoy
  • Wholesaler
  • Southern California
8
Votes |
25
Posts

First Lead as Wholesaler a 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

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