First Wholesale Deal in NJ?
Hey Bigger Pockets,
Anyone looking to analyze this deal, go ahead :)
I got a lead from a motivated seller is heading down the road to pre foreclosure. They owe 28k on the mortgage and have a personal loan of 20k. The ARV is 210 and most people in this area/market do 65-70% of ARV-Repairs. They already were starting the repairs and I calculated them at 40-45k on this 1,100 sqft house TOPS! We agreed at contracting it at 85k. So 70% of 210 is 147-45k for repairs is 102k. So I have some wiggle room for both me(wholesaler) and the end buyer. Let me know what you guys think
Felix