Strategy for this one?

[Mike Dugan]

I am a landlord/wholesaler in the hot Grand Rapids, Michigan market and came across a lead that I wanted some input on. I have a SFR that is in Cascade township (4/3, 2500+ sq ft), in dated but decent condition that from comps is worth around 270k. Told the seller that would have to have about 20% off of that price (get for 216k) and he is considering it if I can get $ to him quickly.

In the past I have worked with properties in the 50-120k range, wholesaled some, kept several for myself thru traditional financing.  I don't have the time with this deal to go thru traditional financing, nor is my cash reserve enough to pay for outright.  

Open to wholesaling this as well, but in the past I was able to get deals to my buyers at around 70-75 ARV. Is it typical for larger homes to command a higher LTV(80-85%) from cash buyers since the potential profit is larger dollar wise?

thanks for any and all input

Mike