Sacramento Area Wholesaling Opportunity (Fair Oaks, CA)

[Samir Pathak]

Hi BP - would love to hear your thoughts on a wholesaling opportunity I was given. The comps seem okay enough to me, but something doesn't add up given the estimated rehab and ARV amounts. The property isn't listed as pending, so I'm wondering how this house could even be wholesaled.

Below are the estimates I was provided along with the comps used for the CMA. I'm brand new to this, so there may be something glaring that I'm missing. Any insight is helpful!

Wholesale property
5317 Hibiscus Drive, Fair Oaks, CA 95628
3 bed, 3 bath, 2086 sqft
Purchase Price: $342,000
Rehab: $15,000
ARV: $450,000

8 Comps covering low, medium, and high properties

(cc @Charlie Brown)

[Derek Jones]

Looks like someone is trying to make some money off you. That home is currently available in auction on hubzu.com for the next 2 days and the current price is only $320k. If you want it just buy it direct from http://www.hubzu.com/property/0007143549173-5317-H... . Also, I've seen that home on and of the market for at least a year now. It also backs up to Madison so take that into consideration as none of the other comps backup to Madison. 

In addition $15k in rehab won't ever equal $100k increase in arv.