Can I make a deal out of this? If so--HOW?

[Brian Bandas]

Hi there!

I have a wholesaling question. One lead that has come to me is a gent who bought a condo specifically to sell it. I get the sense that I could get it at a discount, but it is not a property in need of work. Certainly not a fix-and-flip scenario. It is a nice property in a good area--a solid turn-key rental. Hypothetically, let's say it's worth $335k (an identical unit sold next door last month, so I do know right about what it's worth at retail) and I think I can make a cash offer at $275 and he'd take it. As a wholesaler--I can't afford that property even if it's a pretty good rental and a below market price--can I turn this into a deal? If so, how? I suppose I could always put a contract on it and try to turn a retail sale, right? Although I haven't been working on any retail-type marketing, I've been working on a buyers list populated with investors, not people seeking retail property. So, can I make this a deal?

If the answer is no, that's okay. So far, as I delve into this particular niche, the biggest learning curve for me is the art of recognizing potential deals. I know that as I get calls coming in, my mind is scrambling to try and recognize if I'm barking up the wrong tree, or worse, if I may be passing on what could be a good deal! I just don't know yet!

Thanks for your input BP community!