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Updated over 2 years ago on . Most recent reply
Wholesaling a Foreclosure Property
Hello,
I recently found a foreclosure property located in North Carolina. I'm new to real estate as for the past year I've only been reading and watching videos just trying to collect as much knowledge as I can. I really want to take action as I know that's the best learning experience. What would be the best way to go at this if you don't have any money saved up? Could I wholesale this and find another buyer that will take on the contract for a little more so I can get profit? I feel like wholesaling this foreclosure property would be the best way for me to go because I have no money saved up as I just started this new job(plan to start saving now). What would you do?
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#3 Starting Out Contributor
- Flipper/Rehabber
- Pittsburgh
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#3 Starting Out Contributor
- Flipper/Rehabber
- Pittsburgh
If it's on Zillow, you didn't "find" it - the entire world can see it.
If it's listed for 160 and needs work and the ARV is 200 (and the Zestimate may or may not be accurate) it's not a deal.
Do the math on it and you'll see.