Updated over 7 years ago on . Most recent reply
Potential wholesale deal question
Hello. Im working my county tax deliquent list. I dont have a big marketing budget so I sent a small amount of postcards out to the ones who will come up for aution in Feb. Figuring they will be the most motivated. I wanted to wait until tomorrow to call since the cards just went out this weekend. My question is and I will taylor it to a specific property on the list. This is a multiple occupancy home 7/3. 3348 sq ft. Owner occupied. County list says everyone who is on it hasn't paid taxes in the last 4 years. I added the total to be $21,916.70. ARV is 270,000 based on comps of last 6 months and similar demos. I haven't spoken to the owner yet so Im not sure of what she is asking for or if she is aware she can sell. I practiced with my sister to see how a call would go. She wanted $75000 to include back taxes. Would the numbers be attractive to a buyer? ARV 270k minus 30% discount, 25k repairs, 22k taxes-minus my fee. Then negotiation room I got a number of $107,950. if I had to make an offer to seller. So assuming I contracted the property at 75k would this be attractive to a buyer at lets say 110 115k? Im thinking I can market this up to 140k if im understanding the concept of wholesaling correctly. Any help or clarification is greatly appreciated!!
-Keisha
New Wholesaler