salvaged deal

[Shequann Burrwell]

I had another wholesaler call me yesterday looking to sell his contract. thats was all fine and dandy until he told me how much the contract was worth $240000. now the area the home is in has very few home that are over $200000 mostly multi families in the area. what he did was contract the home for the full ARV and didn't use the wholesale formula or do any repair cost estimation. what im trying to do is salvage the deal by contracting his contrantract and doing it all the correct way using the the wholesale formula running comps and repair estimates etc. what im wondering is if i should wait till his contract expires since its for the $240000 and then contract it again under the real wholesale offer amount. i have a investor lined up for the house ironically they are both trying to sell homes in the same area. i don't think i will have a problem with contracting the first deal at all since its clear this wholesaler isn't as educated in the process as i am at the moment.