Anderson, IN · Member since 2016 · 9 posts · 1 vote
I have a lead on a house I would like to wholesale but I don't know if there is enough room in the deal to make it worth it. Its a two story 3/2.5, 2300sqft built in 2003 in a very desirable subdivision near Fishers right off of the highway. Link below to the area. It is a cookie cutter subdivision with a lot of comparables so I'm confident the house would sell in the $140k range. It only needs cosmetic work done to get ready for sale - paint, carpet, etc.
My question: as a flipper what price range would make this worth it for you?
Real Estate Investor · Miami, FL · Member since 2013 · 474 posts · 214 votes
9y
I'm a buy and hold investor in Indy so I'm not your target audience. But if this was in Jax and your numbers are correct...let's say 10k rehab and confidently sell for 135k...I could easily do 95k. I only need about a 25-30k spread at this price point. I would have an inspection done since it's a minor rehab and the inspection would have to be pretty clean.
Anderson, IN · Member since 2016 · 9 posts · 1 vote
9y
Thanks guys! That was helpful to get some perspectives. I'm new to this, have done a couple mailings and calls are starting to come in. Learning to separate the wheat from the chaff. Looks like I won't be able to get this one for nearly cheap enough, moving on.
Specialist · Indianapolis, IN · Member since 2016 · 17 posts · 2 votes
9y
Hi @Chase Steven Barber have you tried using the BP Wholesale Calculator under Tools? I am new at Wholesaling as well and it does help with determining the max cash offer.