Deal Analysis - East Linden Ohio (Columbus)

[Alex Brandt]

Hello Everyone, 

First of all, please notify me if this is not the correct forum for this topic - I only seek your advice. My business partner and I are pursuing our first wholesale deal in East Linden Ohio (Columbus) and I have a number of questions. I understand that it may be difficult for you to thoroughly assess the deal through a post like this but your opinion and advice would be much appreciated. Please assume the perspective of an investor looking to purchase this contract.

The Deal:

• Purchase Price: $38,000
• ARV: $100,000
  • Comp criteria: < 1 mile driving distance, 6 month time frame, 3 bedroom
  • Still need to adjust comps - in progress
• Est Rehab: $20,000
  • Spoke with local contractors regarding price / sq ft of various tasks
  • Spoke with home depot in area for material costs
• Back Taxes: ~$2500
• Basic Info: 3 Bed, 1 Bath, 1600 sq ft, 50X80 ft lot, Built 1900
• Area Statistics: $78 Median Listing Home Price/Sq Ft ($78 X 1600 = $124,800)
• (This is taken straight from Realtor.com for East Linden Ohio)

Notes:

• New water heater (Permit)
• New furnace (Permit)
• New windows, doors, windows (Permit)
• (Siding was in progress then contractor disappeared)
• Second plot of land included next to property

Critical Questions: 

• What would be a good resource to learn "Wholesale Wording"? My partner and I would like to ensure we are not advertising the property specifically but rather the contract. Wording such as "I have a contract for sale in east linden" and so on.
• How does one typically go about adjusting comps for a particular region? I am finding some rough information for my area but do not have a clear (+100 sq ft = $$$). I plan to do some data analysis on the area to better quantify this.
• As a wholesaler, how can I best present rehab costs to buyers? My partner and I are planning to very thoroughly review all items in need of repair. We will then present a set of general categories with repair costs in each. This will be accompanied with a statement like "Further detail available upon request".

Again your comments on this would be very much appreciated. Please let me know if any additional information would help paint a better picture. I have extensive information on this deal. Have a great Friday!

-Alex Brandt