Updated about 6 years ago on . Most recent reply
Wholesale deal or creative finance
Can someone please answer this question I’m just starting out!!
Came across a property it says
“Great flip or hold opportunity”
“Rent 2300-2500”
“Arv 492k”
“Asking price 379k (obo)”
“Property is move in ready”
How do i go about getting this under contract??
Any advice will help thank you !
Most Popular Reply
Hello, I am still fresh to the real estate investing world, but I will contribute my best answer. I agree with what was stated above, you need to do your own inspection and assessment to be sure of the numbers. If the numbers work, and you have a good understanding of the market it is in, it may be a good deal. I will say, from my perspective, it does seem like that is an advertisement from a wholesaler, you will want to ask that, to my knowledge they have to tell you if they own the house or if they're just selling the contract. That would mean their profit is packed in there as well, by the time you wholesale it to another flipper (if that's what you're doing) there may not be enough meat left on the bone for the flipper. Best of luck to you. I suggest grabbing the pair of books from BP, Flipping Houses and EstimatingRehab Costs. Good luck!