First Virtual Wholesale Deal in Sandy Springs Atlanta GA

[Bao Huynh]

I have the property under contract for $85,000. It's a condo with 2beds and 2.5baths & 1500sqft built in 1980 in Sandy Springs GA 30350.

This is a virtual wholesale deal I put under contract and is 25% or more below market value. The problem I have is that I have no experience in the Georgia market and the offer was based on data. I used express.realquest.com as my market analysis/comparbles as you can see below where I got the offer from. It shows rent at $1,200 possibly at rentometer.com  

Summary

Critieria	Low	High	Median	Subject Property
Sale Price	$50,000	$355,000	$131,250	$62,000
Building / Living Area	1,273	1,630	1,382	1,468
Price Per Square Foot	$37	$243	$90	$42
Year Built	1967	2008	1984	1984
Lot Size	732	1,812	1,368	1,468
Bedrooms	2	3	2	2
Bathrooms	2	4	3	2.5
Stories	1	2	2	2
Assessed Value	$70,000	$268,400	$97,600	$95,100
Distance from Subject	0.25	0.65	0.62

Address	Price	Assessed	Sale Date	Beds	Baths	SqFt	Lot Size	Year	Dist.
$62,000	$95,100	08/28/92	2	3	1,468	1,468	1984	0.0
1204 OLD HAMMOND CHASE	$122,000	$88,000	08/31/16	3	2	1,397	1,398	1984	0.00
1705 HUNTINGDON CHASE	$122,500	$93,800	11/04/16	2	3	1,456	1,455	1984	0.00
2305 HUNTINGDON CHASE	$112,000	$84,400	08/17/16	2	2	1,273	1,272	1984	0.00
2106 HUNTINGDON CHASE	$119,500	$93,800	08/31/16	2	3	1,456	1,455	1984	0.00
937 DELARONDE CT	$355,000	$268,400	09/30/16	3	4	1,460	732	2008	0.25
750 DALRYMPLE RD L2	$140,000	$75,500	06/03/16	2	2	1,526	1,525	1967	0.50
750 DALRYMPLE RD D1	$169,500	$77,300	07/07/16	2	2	1,526	1,812	1967	0.57
6 WESTFAIR CT	$277,000	$233,700	04/12/16	3	3	1,630	1,629	1986	0.59
7750 ROSWELL RD 7C	$110,000	$97,600	12/20/16	2	2	1,350	1,350	1980	0.62
7750 ROSWELL RD 5C	$50,000	$97,600	09/14/16	2	2	1,350	1,350	1980	0.62
7750 ROSWELL RD 6D	$122,000	$122,000	12/11/15	3	3	1,470	1,468	1980	0.62
7750 ROSWELL RD 4A	$148,000	$104,900	09/26/16	3	3	1,470	1,468	1980	0.62
7750 ROSWELL RD 10A	$106,800	$97,600	10/28/16	2	2	1,350	1,350	1980	0.62
7750 ROSWELL RD 10G	$115,000	$74,350	04/27/16	2	2	1,350	1,350	1980	0.62
1001 BRIGHTON PT	$172,000	$149,000	04/29/16	3	3	1,600	1,612	1978	0.65

The earnest money deposit will be $500 but I have a two day window before putting it in escrow.Does this property even make sense as a fix & flip/Buy & Hold/ or BRRRR?I would like some advice on maybe the next setups or even if I should continue.

Any advice would help!

Thank you!

Wholesale Atlanta Georgia Sandy Springs