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Updated over 9 years ago, 07/21/2015

User Stats

80
Posts
14
Votes
Darrell Jones
  • Investor
  • Bristol, CT
14
Votes |
80
Posts

Exit Strategy for a (possibly bad) Wholesale deal

Darrell Jones
  • Investor
  • Bristol, CT
Posted

Hello everyone I'm somewhat of a beginner wholesaler and I currently have 2 Unit Multifamily under Contract.  What I thought was a good deal after walking through it for rehab cost and pulling comps then going by the 70% rule and calculating my numbers, I'm at a dead end.  I put the property under contract with the seller for a set price then went back after realizing an investor wouldn't pay what I was selling it for and was surprisingly able to talk the seller into bringing the price down 5k AFTER the fact we already had the property inked for a set price.

My closing date is coming up fast  I'm thinking I may not be able to sell the house.  I have roughly 2 weeks to make something happen.  I really don't think the seller will be willing to renegotiate the price and I've cut my whole sale fee down to the point where I will barely make any money.  Anybody have suggestions?

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