A Deal ~ Seeking Feedback & Input

[Jenny D.]

Hi BP Community,

I'm in the learning mode and seeking thoughts, questions, or feedback on a potential wholesale deal that I've identified.

Location: Belton, TX

SFH 3bd 2ba 1848 sqft The house is paid off. Vacant. Not on the market. Has rented to college students for $900 per month.

ARV estimate : $110,000 (no comps in the area for 12+ months)

Repair estimate: $18,000

Tax Assessed Value: $82,400

I'm planning to get the property under contract for $12,000. 

What am I missing? What would a potential buyer want to know?

Thanks in advance for your feedback.

Jenny

[Khanesia Washington]

Why not purchase at or below list price of $12k. I would suggest having an agent in the area to provide rental and sales data. There may not really be a demand in the area for no comps in last 12 months. Although that does not mean this property is not a good investment. I would do due dilligence and canvas neighborhood if it is an area that you are not familiar with. Also if you do purchase and renovate think about alternative rental housing.