Updated over 11 years ago on . Most recent reply
Wholesaling a foreclosure
I have finally broken out of the just learning stage, and I am ready to jump out there and put down an offer. This is the first offer I have ever put down and I am putting it down on a foreclosed home that has been on the market for two months. The trustee lowered the home's price by 40k two weeks ago, The homes listing price is 266k. Yet it still no bite. I would like to offer 60k lower than that because the home needs a cosmetic update. If I am not countered I would have gotten the home for less than 157k of the homes value. The homes surrounding the property are all around 280-315k. I want to wholesale this home but would like to know if this a profitable wholesale deal for a home flipper?