All Forum Posts by: Jonathan Salcedo

Thanks @Joel Owens. I assume when you say a "properly evaluate", you're saying a profit/loss statement won't be enough, right? Do you recommend I do a full evaluation before presenting to buyer? By full evaluation I mean 1) Gather real proof of income, 2) Determine expenses by working with advisor and/or property manager, 3) Determine mortgage with 2 lender reviews, 4) Confirm cap rate, 5) Determine CAPEX by getting contractor quotes.

Hi all, I'm getting started with real estate investing and starting my focus in wholesaling. I just uncovered an off-market opportunity for a strip mall in Orange County California. NOI is about $170k annually with a 5.5% cap rate, so seller is looking to sell for about $3 million right now. What is my next step here as a wholesaler? Would I try to lock for $2.95 million, then try to flip for $3 million? Appreciate the guidance here.