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Updated about 7 years ago, 09/23/2017
Advice and feedback on potential Wholesale deal
Hello BP, I would like to start by saying I appreciate this community and everything they have to offer. Thank you!
For the past several months I've gained a lot of insight on different strategies. found that wholesaling fits my criteria, so I've been tunneling in on that to gain capital. Through biggerpockets podcasts, books, and endless research, I've been working on a system to generate leads and acquire deals.
About a month ago I came across someone who is a friend of the family looking to sell their home. Since it's an off market deal in a HOT area, with comps at almost triple the asking price, which I thought made sense.
I've been exercising the due diligence process and also used the biggerpockets wholesale calculator, which is VERY helpful
HERE is my Analysis...
SELLERS ASKING PRICE - $100k
MAO- $109k
END BUYER'S PRICE- $117k + 4k (closing cost)
WHOLESALE FEE- $8k
ARV- $210k
FLIPPING CASH BUYER PROFIT- $35k
REHAB BUDGET OF- $35k
QUESTION- Am I leaving out anything that I need to know?
I would GREATLY appreciate any advice I can get! Thanks !