All Forum Posts by: Account Closed

Thanks very much for the advice Larry. When they gave me that information it threw me off a bit so I had to question it. Your comment is in sync with what I was feeling. Also after looking into more the mentor specializes in buying homes as-is for an offer but state they are not wholesalers ( sound like Wholesaling to me...) and they are also flippers/rehabbers.

Hello I'm new to the real estate business and my goal is to become a wholesaler. 

I'm wanting to understand the correct formula in order to offer the right price to seller and buyer. But I'm having some confusion as to which formula is best to use:

Everywhere, I keep seeing this basic formula: 

ARV x .70- repair cost= price offer to buyer

THEN subtract your fee from buyer price which = price offered to seller.

BUT at a REIA meeting, I had a great mentor tell me to never work with %'s only work with numbers for my formula such as:

ARV- Commission- utilities- taxes-HOA-repair-costs and a couple more I'm missing THEN subtract my fee for a true offer to buyer and seller.

Please help,  which do I use?