My First Omaha Wholesale Deal

[Anthony Gayden]

Hello Bigger Pockets. I find myself diving into wholesaling and I have my first deal. It is a 2 bed/ 1 bath home in the popular Omaha suburb of Gretna, NE. I have a few questions for experienced wholesalers. How do I know how much I should look to make in profit? I don't want to be greedy and I just want some quick cash. I estimate the ARV of the house to be around $120K. I used Zillow to look at what similar houses in the same area sold and that price was around $125K, but that was 2 years ago for three of them and there are no recent 2 bed comps in the area. If Omaha investors would like to help me determine the ARV it would be appreciated.

[Owen Dashner]

Anthony, it depends on the scope of the rehab needed, but you'll probably want to stick in the $5-10K range for wholesale fee at that ballpark ARV, unless you are buying it at a super low price leaving the rehabber a lot of room.

I just wholesaled a hoarder house at 73rd & Lake 2 weeks ago for a $10K profit. Bought it for $20K, sold it for $30K and it's a $125K ARV house with a lot of room for the rehabber to profit. I made one phone call and got it sold in one week because I wasn't greedy, so keep that in mind if you are looking to unload it quickly.