Realtor · Snellville, GA · Member since 2016 · 19 posts · 7 votes
Hey all!
So I'm fairly new to REI and have just got on to some wholesaler's buyer's lists. When they send me deals, they all look fairly good! they usually cost about 30-40k, repairs 10-15k, then arv is 100k+! Yet these deals don't get sucked right up. I know area is a factor. Can someone tell me their thought process of how they tell if they wanna get a property under contract or not. I live in Atlanta
Flipper/Rehabber · Sacramento, CA · Member since 2016 · 807 posts · 815 votes
10y
If I can get a property at 70%ARV - repairs - holding cost - agent fees, I would consider that a great deal to wholesale or flip. The challenge is to make sure those numbers are accurate. I'd recommend you do your own research and confirm the numbers the wholesaler is giving you. You will also want to check for any loans, liens, etc that can cloud the title.
Try to build a solid relationship with a good wholesaler. Once you have one, they will bring you their best deals first and you know their numbers are usually accurate!
Investor · Chandler, AZ · Member since 2014 · 303 posts · 101 votes
10y
@Jordan Dooley Always do your own due diligence and do not trust anyone's numbers. The formula above is a good place to start. My guess if the deals aren't being sold quickly, then they aren't that great of deals to being with. The good ones go fast.