Wholesale

[Eric Abrigo]

Hello BP, I am looking get my first first property under contract in the near future and have heard quite a few different answers as to which exact number to run while analyzing a deal. i don't want something that I've missed to eat my profit away on the back end. Also how exactly would i run comps? 

[Ryan Spinola]

@Eric Abrigo If u want a math formula. Take highest 3 comps that are similar to property ur trying to put under contract x .70 less repairs = wholesale price - profit = offer price.

100k (Average Highest 3 comps) x .7 = 70k - 10k (Repairs) = 60k (Price which u will sell to a cash buyer) - 10k (Your profit; assignment fee) = 50k (Price which u have to get the property at)