How do I know if this is a good deal?

[Nick B.]

Hello All,

Do any good deals really exist in Dallas-Fort Worth market? Those that are being talked about in books and seminars where a house can be bought for 50K, repaired for 20K, and apprised/sold for 100K?

I searched MLS listings and found either houses that sell for 55K in 55K neighborhoods or for 100K in 100K neighborhoods. In other words, no one sells anything good at a 20-30% discount.

Then I subscribed to a wholeselling list and got this property:
http://dfwinvestors.com/property/ridglea-hills-boaz-wholesale-available-in-fort-worth/

Is this a good deal? If the house is offered for 88K with 20K in repairs, can it really be sold for 145K? And if it indeed can, why do they not sell it themselves? Instead they leave ~30K on the table. Is there a catch?

Thanks
Nick