Good deal

[Jordin Boyd]

I have a property I'm trying to get under contract and Im not sure its a good enough deal to be able to wholesale. Here are the details. If anyone is interested please message me and we can talk about it. 

The house is in the 28277 zip code in Charlotte, NC. Its a nicer neighborhood than I have ever tried to negotiate a deal in which is why Im not sure about it. Arv is $230,000 conservatively. Highest comp in the area was $266K. Lowest was $225K. It needs about $20K in repairs (carpet/flooring, int. paint and some drywall patches, int. doors and trim, misc lights and hardware updating, ext. siding and fascia repair). The more expensive things are in good shape, new roof, new ac unit, good hw heater. Its a 4x2 no garage. I could have it under contract today for $198,000 but I want to get it for $155,000. Does anyone know this area? Am I digging too deep? Should I get it under contract for $198K? Would anyone buy the contract from me at that price?

Thanks all you Charlotte experts!

[Allen Fletcher]

@Jordin Boyd

If you look at the numbers you have listed, this "deal" does not seem to be a deal. Remember the important thing to do as a wholesaler is get homes on contract with enough room for you to profit and for the flipper to profit. Your numbers show only about $12k of profit total. This would barely cover your profit let-alone the flipper's profits. True those numbers are conservative, but wholesalers need to always assume worst case if they want to move properties fast and profitably.

Good luck,

Allen Fletcher