Updated almost 7 years ago on . Most recent reply
Wholesaling with a Realtor
I'm still trying to get my first wholesale deal. I now have a potential deal. The seller that I have been talking to gave me a verbal confirmation (I know that a contract is better) that they agreed with a 70,000 sells price. Property is a 3/2 1,916 sqft property with a 600sft 2/2 apartment with private access attached to the back of the house. The ARV on this property is 129,000 with about 18k in repairs (is this even a deal?).
I'm apprehensive about sending the seller the contract (I guess 1st deal nerves) because a realtor is involved. The seller is out of state and I have to coordinate with the Realtor to have access to the property. The seller wants the 70k all at closing with me left to pay the realtors commission out of my profit. I could use some advice with this one.