Conflicting opinions
So I was exploring a deal in Dallas.
Sale price from wholesaler is $406,000 (he has it under contract at $395k)
Rehab breakdown (based on bids):
- $6,100 on foundation
- $89,500 on cosmetics
And here's where the confusion comes in:
Wholesaler is advertising an ARV of $600k
My realtor is telling me we can get more like $625k based on his research.
A seasoned investor I'm looking at buying this thing with is saying we can't sell it for more than $500k due to the market.
As most of you know on here, Dallas is booming and this is a nice older neighborhood that has a lot of older people living there. There was only 1 house sold in the last year and there are 3 available on the market right now (been on there 10-30 days). Based on that, my potential partner is saying he thinks we'd have to price it low to be able to move it with 3 years of inventory on hand.
My personal opinion is that this neighborhood is full of older people that haven't moved and that the reason only one house sold over the last year was that there was only one put on the market. I tend to agree with my realtor but I would love hearing others opinions on it.
Address is 10102 Royal Highlands, Dallas. (and FYI, the house is actually 3950 SF, not sure why MLS only has it at 1950).