NEED ADVICE PLEASE!!!

[Joseph Colon]

If anyone could give me some advice I would really appreciate it! I'm coming into this as a wholesaler.

My realtor sent me a house 3bed 2bath1021sqft living area for $74,900. Yearly taxes for 2014 $1004. From what I estimate it looks like it will need 10,000 in repair. The Market value on zilllow is 85,000 but ARV will be worth (in my opinion $95,000 ) Houses around the area sell for $90,000- $116,000. Three of the highest priced homes are 3 bed 2 bath.

		Scenario/Property 1
1	Address/Name	2nd Ave property
2	ARV (After-Repair Value)	$95,000
3	Max % of ARV	70%
4	Repairs	$10,000
5	Closing Costs (%)	2%
6	Holding Costs	$1,500
7	Other Expenses
8	Wholesale Profit	$5,000
9	Max Offer	$48900
	Rental Rate of Return:
10	End-Buyer Cost Basis	$66,500
11	Projected Monthly Income	$1,200
12	Projected Monthly Expenses	$200
13	Cap Rate (Rate of Return)	18.05%