Detroit Properties

[Muhammad Saleem]

Dear Community,

I need guidance about my first attempt to wholesale deal please.

I came across a deal in Detroit. I checked the comps and established ARV of 16k but after inspection, repairs estimate is 15k. If I add wholesale fee and other costs, MAO goes in minus. What is the solution to make money in such houses. Detroit is full of such deals.

Interesting thing is, I checked the property comps for lease, monthly rent is 850 to 875/month.

Suggestions will be highly appreciated.