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Updated about 5 years ago,

User Stats

8
Posts
1
Votes
Ridge Rees
1
Votes |
8
Posts

First Time Wholesaling (Newbie)

Ridge Rees
Posted

Hey everyone! Im from Utah and have been around bigger pockets for a few years and have always been into real estate but just recently bought my first deal a few months ago that I am currently house hacking. I recently became aware of another deal from someone I work with. Its a 3 bed 1 bath house. Definitely needs some fixing up. Im familiar with the house because I actually tried to buy it a few years ago but backed out because he upped the price. Me and the owner are on pretty good terms with each other and Ive mentioned buying the house off of him because he wants to get out of it. He doesn't want to list it, use an agent, or spend anytime at all selling it. He owes 123k on the house and he says he would like at least 160k out of it. The ARV on it 2 years was 155k. Does this seem like a good potential wholesale deal? I've never even considered wholesaling until I became aware he wasn't wanting to sell. I would buy to fix and flip but dont have the time or the capital to do so at the moment. Sorry for my ignorance but is there anyone that can point me in the right direction of what I can do with this house? How does someone judge the value of the house if you're not getting an appraisal? Can you get an appraisal without the landowners knowing what it is appraised at or is that shady? I really dont know much about this. Thanks again.

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