Minnesota Wholesale Real Estate

[Demetrius Lee Gilbert]

Hello! I’m relatively new to the Real Estate world and I’m partnering with an associate in hopes to get involved in the Market/ close deals. I’m just getting over a reading and studying binge on Wholesale Real Estate and I’m now ready to further my knowledge with real experience in the field. My question is, what is most appealing to buyers/ investors for Quick Turnovers? My partner and I have found multiple Below-Market distressed homes with excellent Comps. There’s still the feeling that there’s still much more to learn though. I essentially want to know what it is (Generally/Specifically) that makes a home a “Diamond in the Rough” and what makes it something appealing for a quick turnover?

[Jerryll Noorden]

Do you mean for investors to buy?

If so here is the golden flip:

1). Price range (ARV): 200K -280K

Anything over that and you are dealing with a much smaller end buyers pool. Also the best flips are in that price range as this is the golden ratio between square footage, ARV, cost of repairs... this range just works.

2). Easy to fix, nothing involved. Cosmetics, new kitchen new bathroom, paint (interior), new hardware.

3). No big componets, no electrical no plumbing, no wet basements, no plaster, no driveway issues, no boiler issues, NO UNDERGROUND OILTANK!!!!!

4). Decent location/city

5). SFH

Those are my 5 golden rules for flipping.