Not sure if good wholesale deal but first

[Aracely Hernandez]

I have a property that is 2000 square feet with 2 car detached garage in a good area. The property is in a good, established area in the city. The seller was asking 179,900. but is willing to take 155,000. She will pay 50% closing and all property taxes. The ARV is at about 205,000 and needs around $17,000 in repairs. I would like to wholesale the property but don't know if $157,000 would be a good price to resell it to leave enough profit margin for end-buyer. I've tried the wholesale calculator, but still not sure if I am running the numbers correctly. What do you think about the whole deal? (This would be my first).

[Aisha E.]

I do not know what % of ARV rehabbers are looking for in your area, but the usual formula that most investors use is 70% of the ARV minus the rehab costs. Assuming your rehab costs are correct and ARV is based on reliable and pertinent comps,

So for your deal, taking the 70% of ARV of 205,000= 143,500

- 17,000 = $126,500 (Your maximum asking price)

Again you know your market better, and should know what % of ARV investors are looking for in your area.