First Wholesale Appt Help OR Educating Seller on Options

1 Reply

Baltimore 21212 Property 

Seller is motivated to sell because she doesn't want 2 mortgages has family member there but not getting a profit. 

ARV= 167,767 (I used Propstream for Comps kinda iffy because the home is 3bd 1.5 bath comps I've found are 3/2 and not within 10 years of house built in 1985)

Repairs- I've estimated to be 16,200 using sq footage 1080 x $15 for moderate repairs she hasnt lived in the house since 2011 

Seller has mortgage balance of $93,852

I've adjusted my profit to 5k to cover mortgage however using a offer calculator these were the numbers I got:

first offer 76,990 second 81,801 max 96,237

Besides offering the seller a cash offer which with the first two offers wont help her any what other options should I present to this seller? Or should I just move on because Im not offering any real help?

While it doesn't completely kill the deal, having a mortgage balance that is near or above your MAO is certainly difficult. In this case, there doesn't seem to be much wiggle room.

First, you're already saying your ARV is iffy. You need to nail that down better. Your buyer certainly will. If the actual ARV is even just a little lower, there goes your wiggle room.

Second, your repair estimates are based off a formula and not an actual estimate.  This is also a big unknown.  Without properly inspecting the property looking for what needs to be repaired, you could again be losing that wiggle room.

I would suggest some more analysis to nail down better numbers.