Updated almost 3 years ago on . Most recent reply
JV with a Wholeseller in DFW for 5 br / 4 ba home in Prosper, TX
Hi everyone,
We are under contract on a 5 bedroom / 4 bath in Prosper, TX where the lowest listing in that neighborhood is $800K. The house does need some paint and new kitchen tiles, but is in overall great condition. The AVM through RPR from NAR on it is $880K, and we are looking to reassign it for $649K including our assignment since it needs about $30-$40K of improvements (fresh paint, kitchen tiles, carpet in bedrooms etc.). If we can't find the right buyer, we are planning to just do the flip ourselves but it's a little more expensive for us as we would need to fly in our crew or hire locally.
We have a great wholeseller in NJ that we have done 10+ JV deals with like this one where we split the assignment, but we are starting from scratch in DFW. If you know a good wholeseller in North Dallas, please PM me or comment your recommendations on how to find them.
Craig
Most Popular Reply
#2 Real Estate Agent Contributor
- Real Estate Broker
- Coppell, TX
@Craig Jones Prosper is super tough right now. There today showing homes in this price range. Lots of homes on market, lots of price reductions, LONG DOM...like plenty 120 days or more.
Sounds like a good price, but might be tough. Prosper is very school driven so buying/selling in the middle of the year is challenging. Good news is that schools are great....and still lots of people looking there.