Great Flip Opportunity...Should I wholesale the deal?
I was looking into wholesaling because a fellow investor presented a deal to me which includes a very motivated seller...My business partner got the seller to agree upon a price that is around 60% of its appraised market value.. The home is in very good condition however ever it is very outdated. The home is 3800 sqft SFR 4 bed 2 full baths 2 half baths in Beaumont TX... I'm certain this is a good deal but I'm a bit apprehensive because, for 1) its outside of my Houston area Market so overseeing a rehab would be quite difficult 2) With such a large home we would face some financial challenges with doing a complete remodel. We entertained the idea of immediately listing it on the market without doing updates or just wholesaling the deal to another investor who has the resources to do a complete flip...Have any of you come across a situation like this? If so what option did you choose? Thanks in advance for your responses.