Wholetailing

[Shawn Connors]

Hey BP,

I have a lead on a house in a great neighborhood.  The house is updated except the kitchen and master bath.  The owner wants 330k, but his price is flexible.  The house directly behind his, which is very similar to the subject property's layout just sold for 358k with an updated kitchen and master bath.  the seller still owes 280k so he wouldn't take anything else.  The house is currently rented too and the family renting would be willing to move.  Houses in this neighborhood are moving very fast, even if they aren't fully updated

My question is... If I could get the property under contract for the right price could it potentially be a good wholetail deal?  I know a big selling point is the kitchen and bath, but I feel that this house could easily sell for 330k.  Let me know what you think?  and if this sounds like a stupid question (which it could be because I am still very new) feel free to berate me and tell me I'm an idiot... Thanks

[Devan Mcclish]

If you can get it for 280k and sell it for 330k wholetail, why not? You just need the money to close that transaction on the front end.