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First Out-of-State Wholesale Deal - Sandy Springs - Atlanta GA
Hi BP,
I have the property under contract for $84,750. It's a condo with 2beds and 2.5baths & 1500sqft built in 1980 in Sandy Springs GA 30350.
This is a virtual wholesale deal I put under contract and is 25% or more below market value. The problem I have is that I have no experience in the Georgia market and the offer was based on data. I used express.realquest.com as my market analysis/comparbles as you can see below where I got the offer from.
Summary| Critieria | Low | High | Median | Subject Property |
| Sale Price | $50,000 | $355,000 | $131,250 | $62,000 |
| Building / Living Area | 1,273 | 1,630 | 1,382 | 1,468 |
| Price Per Square Foot | $37 | $243 | $90 | $42 |
| Year Built | 1967 | 2008 | 1984 | 1984 |
| Lot Size | 732 | 1,812 | 1,368 | 1,468 |
| Bedrooms | 2 | 3 | 2 | 2 |
| Bathrooms | 2 | 4 | 3 | 2.5 |
| Stories | 1 | 2 | 2 | 2 |
| Assessed Value | $70,000 | $268,400 | $97,600 | $95,100 |
| Distance from Subject | 0.25 | 0.65 | 0.62 |
| Address | Price | Assessed | Sale Date | Beds | Baths | SqFt | Lot Size | Year | Dist. |
| $62,000 | $95,100 | 08/28/92 | 2 | 3 | 1,468 | 1,468 | 1984 | 0.0 | |
| 1204 OLD HAMMOND CHASE | $122,000 | $88,000 | 08/31/16 | 3 | 2 | 1,397 | 1,398 | 1984 | 0.00 |
| 1705 HUNTINGDON CHASE | $122,500 | $93,800 | 11/04/16 | 2 | 3 | 1,456 | 1,455 | 1984 | 0.00 |
| 2305 HUNTINGDON CHASE | $112,000 | $84,400 | 08/17/16 | 2 | 2 | 1,273 | 1,272 | 1984 | 0.00 |
| 2106 HUNTINGDON CHASE | $119,500 | $93,800 | 08/31/16 | 2 | 3 | 1,456 | 1,455 | 1984 | 0.00 |
| 937 DELARONDE CT | $355,000 | $268,400 | 09/30/16 | 3 | 4 | 1,460 | 732 | 2008 | 0.25 |
| 750 DALRYMPLE RD L2 | $140,000 | $75,500 | 06/03/16 | 2 | 2 | 1,526 | 1,525 | 1967 | 0.50 |
| 750 DALRYMPLE RD D1 | $169,500 | $77,300 | 07/07/16 | 2 | 2 | 1,526 | 1,812 | 1967 | 0.57 |
| 6 WESTFAIR CT | $277,000 | $233,700 | 04/12/16 | 3 | 3 | 1,630 | 1,629 | 1986 | 0.59 |
| 7750 ROSWELL RD 7C | $110,000 | $97,600 | 12/20/16 | 2 | 2 | 1,350 | 1,350 | 1980 | 0.62 |
| 7750 ROSWELL RD 5C | $50,000 | $97,600 | 09/14/16 | 2 | 2 | 1,350 | 1,350 | 1980 | 0.62 |
| 7750 ROSWELL RD 6D | $122,000 | $122,000 | 12/11/15 | 3 | 3 | 1,470 | 1,468 | 1980 | 0.62 |
| 7750 ROSWELL RD 4A | $148,000 | $104,900 | 09/26/16 | 3 | 3 | 1,470 | 1,468 | 1980 | 0.62 |
| 7750 ROSWELL RD 10A | $106,800 | $97,600 | 10/28/16 | 2 | 2 | 1,350 | 1,350 | 1980 | 0.62 |
| 7750 ROSWELL RD 10G | $115,000 | $74,350 | 04/27/16 | 2 | 2 | 1,350 | 1,350 | 1980 | 0.62 |
| 1001 BRIGHTON PT | $172,000 | $149,000 | 04/29/16 | 3 | 3 | 1,600 | 1,612 | 1978 | 0.65 |
The earnest money deposit will be $500 but I have a two day window before putting it in escrow.Does this property even make sense as a fix & flip/Buy & Hold/ or BRRRR?I would like some advice on maybe the next setups or even if I should continue.
Any advice would help!
Thank you!
Wholesale Atlanta Georgia Sandy Springs