Asking Price on on Market Properties?

[Russell William Phillips]

Hello everyone,

I recently have come across two properties that are on market. I ran the numbers and both properties meet the 70% guideline for wholesaling. Both properties have seen a fair amount of attention. I have been hesitant because I feel like I am missing something that makes this, what I think to be a deal, not a deal. Does anyone have any advice on maybe what else to look for to make sure I am actually getting a deal under contract that is a deal I can market to investors? I am in Maine btw, if that helps in anyway.

Thank you for your time,

Russell Phillips

[Michael Dumler]

@Russell William Phillips, good luck trying to wholesale on-market properties, this strategy is usually ill-advised. The seller/agent most likely intentionally listed the properites below the market to draw traction, as you've mentioned. If the properties have already received several offers then I'd recommend moving on to the next deal, preferably one that is off-market. As you've noted, the 70% rule is merely a guideline, what constitutes a deal or not is entirely dependent on the end buyer's criteria and goals. Hope this makes sense and helps!