Wholesale OR 1st Rehab?
Wanting to make an offer on a property but not certain what to offer.
Preference is to wholesale. If so, what should I place the property under contract for?
I am open to a rehab (although it will be my first). Financing on a rehab would most likely be hard money.
The biggest issue is that I need to move quickly to get the home under contract, but am not certain what the cosmetic repairs would cost. I have attached photos for reference. The foundation repair estimate has already been done and is in the details below.
Property Type: Single Family Residence
Beds/Baths/Living area: 3/3/3
Sq. Ft.: 2,417
Asking Price: $160,000 ($66.20/sq. ft. approximately)
Foundation Repair Estimate: $15,000
Other Repairs/Upgrades: ??? this is where I get fuzzy (it's mostly cosmetic)(see photos)
After Repair Value: $240,000 ($100 sq. ft. approximately)
This home is located in a nice neighborhood in Dallas, TX. Homes on the street are selling between $220K and $270K.
Please see photos below.
Thanks in advance for your responses.