New Wholesaler here! Question about ARV
Hello everyone!
I am a licensed Realtor here in Richmond, VA and have been trying to understand the ART of wholesaling. I do have a question regarding the price I (the wholesaler) negotiate with the seller. What is the ARV (percentage) that I should look to get the property at, so that I may turn around and assign that contract to an investor?
I also read somewhere on BP that wholesalers are negotiating properties at 70% ARV (minus repairs, etc), but I was under the impression that the 70% ARV figure was for investors? I thought the wholesalers ideally should stick to the 50-60% ARV? (or any other ARV suggestions for the wholesaler would be greatly welcome)
I would greatly appreciate it if someone could help clarify the purchase ARV percentage for the wholesaler.
Thank you sincerely,