All Forum Posts by: Charles Kimber

@Charles Kimber okay if the tenant is month to month their current lease is less relevant assuming that it could rent for more, however $234k for Atlanta is getting into properties that generally don't make good rentals period, someone with more experience there correct me if I'm wrong but isn't the sweet spot something like $150k-$175k, so perhaps better to look at as a flip.  

There are some properties that just don't fit the wholesaling bill, such as luxury homes with nothing wrong with them in a hot market. The seller would be better off listing on MLS. Properties that require little to no repairs are tough because the seller doesn't see why they need to take a discount off market price, and to be frank they're right in thinking that way.

It sounds like this property doesn't need many repairs or if it does they won't be repairs that an end buyer would care about (new kitchen, flooring, new bathroom etc.) so it wouldn't make a good flip. It also seems like the price point may be a bit high for a rental in your area so it wouldn't make a good rental either. The seller knowing the approximate ARV of their home and wanting that leads me to say that the best course of action as painful as it may be is to move on to the next property.

How long is the tenant's lease? tenant is month to month

What is the market rent for the property?

What is the market value for the property? ARV is $234,166 im located in Atlanta ,ga sorry about that

Are there any necessary repairs? homeowner is stating no repairs so he says 

All these questions need answers before halfway decent guidance can be given, oh and also general location so local folks can chime in on what is normal for the market.