Updated over 6 years ago on . Most recent reply
Wholesale in a highly distressed area
I have recently started Wholesaling. I got an inquiry from a bandit sign. I looked at the house . It is in bad need of repair. My best estimate is 70,000 using the housewyze app online. the sales price of the house is 21000 All the comps are selling in the range of $20000 -30000 . Now I intend of a fee of 5000. Now if my house has a ARV of 20000 then my MAO is -55000 . Now obviously this doesn't fit in my business model. but my question is this . Is there a way for me to do business in this area as a wholesaler. The property would be worth a great deal more if the rehab was done but I cant prove it mathematically to potential buyer. A bigger pockets member from Louisville Ky would see what I am talking about in the west end and Portland areas. of course all responses are welcome. Thank you all and God bless!