West Philly Wholesale Numbers

[Marisa Amirian]

Hi! I've recently started marketing for leads to increase my rental property portfolio....and I have my first lead in west philly on a 2 story 3/1 that according to the seller "needs a full rehab".....I put my general number for a "full rehab" of that size at about 100K ....I'm putting the ARV at 130K....if i'm not interested in keeping and need to wholesale these numbers already look grim....ARV * 70% - rehab = -$9,000.....soooo what am I doing wrong ?? I can probably get away with less than 100K rehab but I'm not sure how much less...can anyone weigh in on my numbers? thanks!

[Jerryll Noorden]

Quote from @Marisa Amirian:

@Jerryll Noorden...thank you for the reminder! And I can read between the lines of what you are saying as well :) We should be dialing in our marketing so that leads are coming to us...I got a lead last night and the woman just wants to get rid of her property and she put a lot of money into this property with hopes of renting I out and her husband got sick and they can't finish reno so they are in over their heads....anyway - she legitimately needs help and If I cannot help her i'm going to find someone who can. But I think yes if you are chasing leads in the beginning you are really trying to make ends meet, recoup costs and its hard and you end up treating the leads like gods but need to reset! 

 You get it!!!

And awesome on your part trying to help her out even if you don'y get paid from it. That is just awesome!!

You rock gurlfriend!