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Updated over 5 years ago,
I see an opportunity to wholesale, how to do it?
I'm just getting started out in learning real estate and looking for some guidance. I don't necessarily want to focus on wholesaling, but I see an opportunity.
My friend has a house that he moved out of and is currently renting out to a family friend. He sees it as a headache and wants it gone as soon as he is able.
Now he says that he would take 80k just to get rid of it, but also last year he had a serious offer for 95k that he wasn't able to take at that time. He has done considerable work on the house, I dont know the details but it sounds like it can be bought at 80k and sold at 95k without any work.
I know that what he said is just talk at this point, and I need to investigate to fill in all the details. But how would you recommend going about turning this into a wholesale? Would you recommend doing so? - considering closing costs, etc? Any advice is appreciated. Thanks