First Wholesale Deal in Contract

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Hi All,

I appreciate any and all feedback! I have my first wholesale deal under contract and I think its way too high. Please take a look and first can you suggest how to market it so that I can get offers even if they are below asking so I can go back to the seller with that info in order to reduce the price. Second, this is a property zoned R3, and suggestions on who to market that to and how? I got it off the MLS so all the info is public. The address is 7261 9th Street, Buena Park, Ca

Thanks in advance...First time poster, long time reader (lol, in case anyone listen's to talk radio).

Jill

[Mary B.]

why do you think its too high? Does it need repairs, if so how much(guestimation of course)? Whats the ARV? I'm not familiar with CA market other than knowing its very costly to purchase property, live there and even visit (though I enjoy every visit:-)).

If you haven't already be sure to utilize the MAO / MOA system. It works for wholesaling & fix and flip strategies.

65% to 70% of the ARV minus rehab costs will give you the sum of the MAO (maximum allowed offer). You may use a higher percentage than what I posted. However if you are going too much above 70% its really not a good thing... During the process of building your buyers list you should find out the percentage they use and go with that.

Kudos,

Mary