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Updated over 9 years ago on . Most recent reply

User Stats

36
Posts
1
Votes
John Baker
  • West Palm Beach, FL
1
Votes |
36
Posts

Help! Do you think I should do this deal?

John Baker
  • West Palm Beach, FL
Posted

I found an elderly man who says he needs to sell his property for cash to pay his mother's mortgages. The after repaired value (ARV) is 53,000. And 70 perecnt of that is 37,100. I think it might need 5K or 6K repairs. And I want to make at least 2K wholesaling this property. He wants 36K, but my maximum allowable offer is 35,100, which assumes no repairs. You think I can negotiate lower if he is truly motivated? If I can get it down to 29,100 do you think I should do the deal?

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