Updated about 10 years ago on . Most recent reply
Dallas Wholesale Question!
Dear BP family,
I need your help! Here’s the situation:
Older couple wants to move out of state
80K is still owed on the home but has been assessed for 133K
Comps show that ARV is 158K
Repairs are about 20K
My calculations show that my MAO would be 87K, however, I don't believe the couple is motivated enough to accept the offer.
Is there another way to complete this deal? What kind of investor would be interested in this property? Or, should I simply refer the couple to a realtor?
Most Popular Reply
Offer 5k below MAO and see what happens. Don't assume they won't take it. Point out that it needs 20k in repairs for a retail sale and if they want a quick sale you are the best option. If your numbers are accurate it's an easy wholesale flip. I would buy in a heart beat from you or partner.
Question to ask seller before you make your offer...
"If I were to pay cash and close quickly what's the least amount you would accept?"
- Rod Hanks
