Wholesaling virtually with online auctions?

3 Replies

I started wholesaling April 9th of 2018. And I now have a great deal under contract from Hubzu. 20 autumn Ln Belleville IL. Got it for 86,500. Needs 70k in repairs for it to be prestine condition. 270k ARV!. My private money lender wanted me to give an origination fee but I don't have that since I've dumped my money into wholesale marketing. What's your guy's take on this and wholesaling properties from auction sites? Also, can I do this nationally?

@Trevor Rice   Commenting on just the numbers, if they're accurate then it's a great deal.  Are you trying to purchase it or wholesale it?  Any update on how the process is going so far?

Welcome to BP!

- Tom

The numbers are accurate and conservative. I might just wholesale it because I don't have the upfront origination money to get a private money loan. I have 3 buyers looking at the property today for 130k