I wanted to know, can you wholesale properties from other investors, realtors, etc. or can you only wholesale abandon properties and properties being sold directly from the owner? :crazed:
You can Wholesale any type of property as long as the numbers look good. As i would say also if your using your formula which is the 65-70%ARV (After Repair Value), and knowing how to estimate Repairs i wouldn't think you'll have a problem. HAPPY HUNTING.. :D :D
:superman: "Natural Born Go Getter" :superman:
Thanks Jorge, that helped a lot!
I have been wholesaling for a while but have been told by a realtor who only does investment properties and has owned these types of properties as well that you cannot wholesale a wholesale because you (the second wholesaler) do not have the initial interest and are acting as a broker.
Does any one know if this is true. I have always found my own deals and have never done the above mentioned.
If you are assigned a contract that you double close then you would have an interest. If you assign an assignment, you would still have an interest. If your name is on the contract and/or assignment somewhere then you will be fine.
Thanks for the clarification.