All Forum Posts by: Michael Algarin

@Michael Algarin  This is a terrible deal. First of all, the most you should pay for this property is $279,000 before any repairs. If you subtract repairs of $40,000 your purchase price should be no more than $257,000 if you pay more than that, only a stupid investor will give you a dime more than $257K. There are a lot of noise out there about wholesaling, but I always tell my students that only losers wholesale properties. If you know what you are doing, why would you leave money on the table. for example, if you were to acquire this property for $257,000, you might be lucky to whole sell it for $5000 or even $10,000. But if you take the whole deal down yourself, you stand a chance to make, at least $60-$80,000. My question is why not learn the process of taking down deals instead of killing it half way. If lions only make half kills, they will never have the strength to get a full belly and they will always be hungry. I flipped only three houses in 2014 and made $248,000. If I whole ssale my deals I would have made less than $30,000. But it takes some skill. So learn the skill or get someone to hold your hand who has done it.