Wholesale Deal...Help analyzing
I have a property under contract. I thought it was a good deal and the numbers were decent, however it's not selling. Here's the specs
4 bedroom / 3 bath. The seller added another room on the back so it's got a bonus room.
1774 sq ft.
Built in 1963
Asking 75k
ARV: Between 120k and 130k
Repairs: Furnace needs checked. Seller got a $1500. estimate on it. The electric panel needs updated and some outlets fixed, and the hardwoods throughout need redone.
She owes 50k on her mortgage and wants some moving money so we don't have much room to play around but I was almost sure that the 75k pp was a decent deal.
Can someone let me know what it seems like I'm missing? The pics are good. They show a normal good looking house. No major repairs. I can provide additional info if I've left anything out.