Wholesale Deal

[Todd Gustafson]

Looking at 3 potential buys tomorrow but passed by one this evening, briefly. I plan to wholesale this deal if the numbers are right.

Comps - 120k - 133k
Asking - 69.9k
Repairs???
home is 1056 sqft, 3/2

Motivated seller accepting all offers and paying $5,000 towards closing. Listed with agent and does not appear to be an REO, will confirm once I get past estimates.

My concern comes with estimating repairs as a wholesaler. I've read a lot of opinions and methods, but still unsure of the best way to go about it.

It doesn't seem practical to pay for a professional estimator as a wholesaler. I've learned of short cuts like the squarefeet multiplied by 20 for example (this home needs a lot of work, but i have seen worse). As a general guideline, this may work, especially if you adjust with a hedge factor. But I have yet to do a deal, so do wholesalers pay for estimates each time?

If you wholesale, how do you estimate your repairs and know you are passing on a great deal? Thanks.