HELP, 1 year old house in nice area of Florida wholesale advice

[AJ Locke]

Good Afternoon BP! I have a seller in preforeclosure in a very nice area of Florida with 30-60 days to sell his house. The house is 1 and a half years old and no repairs needed. What would be a typical starting point to negotiate a price? Would 80% ARV plus wholesale fee be good way to look at these types of deals? Thank you in advance for your insight!

[Joe Gonzalez]

Hey AJ,

I challenge you to drop the formulas and ask the seller what he/she needs to move on from this situation. I always start the conversation this way, once I understand what they need I then know how I can help.

Keep in mind if there is not enough equity in the property then the traditional wholesaling numbers might not work, if they want to just have the mortgage paid off and move on then that might pencil out. Some sellers facing foreclosure still want top dollar so it is our job to explain that time is of the essence.

Either way the goal is to be of service to them in this situation, the money will follow. 

Best of luck!