Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 4 years ago,
Wholesale or buy and sell?
I am a licensed real estate agent as well as a seasoned real estate investor for the past 20 years and own 60+ units. Today I was approached by a distressed seller that wanted to know if we would be interested in buying their property to flip. His asking price was $15k and I honestly think I could get him down to $10k! Unfortunately I do not love the area for a flip or rental but think it could easily sell on the open market for $20-30k as is. So my question is... should I try to wholesale this property or buy and then list as is? I’ve never wholesaled because it honestly feels super slimy but in this case it would save a lot of fees, transfer taxes, etc.
I’m open to honest feedback and suggestions.