Fort Worth Wholesale Deal

[Jason McDougall]

***PLEASE LEAVE YOUR EMAIL ADDRESS IN THE COMMENTS OR SEND AN EMAIL TO [email protected] FOR MORE INFORMATION ABOUT THIS PROPERTY***

3/2/1

1633 sq ft

ARV: $150k

Repairs: TBD by buyer

Purchase price: $90k

Awesome opportunity in East Fort Worth! In addition to a cosmetic rehab, this house will need foundation repair, brick repair in the enclosed back porch, and there is a plumbing leak under the slab. The roof was recently replaced, and the HVAC looks to be in good condition, although the power wasn't on for us to test it. 

[Jason McDougall]

@Dustin Mathenia

I really don't want to participate in an unprofessional online argument, but I will so that anybody reading this can better understand what's really going on here. I own a respected wholesale company in Dallas - Fort Worth, and consistently do 5 - 7 deals a month here. I'm also a licensed Realtor.

While that property is on the MLS for $69k, what Zillow doesn't show you is that it is under "Active Option Contract". That means that I have a contract on the property, and even if you wanted to buy it for $69k, you can't. For complete transparency, I saw the property listed on the MLS and made an offer for $80k, and gave the seller a $200 option fee, fully disclosing my exit strategy. I was fairly confident that I could wholesale the property for more than $80k. If not, it's a loss of $200 for me. Not a big deal, you win some and you lose some. There are sold comps in the same addition, within a 1/4 mile radius to support my ARV of $150k. I provide comps with every deal that I market. If you're trying to pull comps from Zillow, you need to find a better way. As someone else mentioned, Texas is a non-disclosure state, so it's going to be impossible for you to pull accurate comps without MLS data.

I truly appreciate criticism, that's how we all learn and grow. What I don't appreciate is ignorant & negative criticism. That's not the way I conduct myself in this industry, and I wouldn't be successful with investing if I did.