Please help!! beginner wholesaler

[Elizabeth LeBlanc]

Hello, I need serious help. I’ve been putting a ton of time into learning wholesaling and have watched a ton of Jerry Norton and used his calculator to figure out an offer on these properties. I just am starting to feel like I’m doing something wrong in my math because sometimes, the offer will even come out negative. Is someone able to help me? I need to be able to make sure my offers are accurate to be successful and I’m getting discouraged.

Example, for a “gut job” property under 1500 sq ft, Jerry says to consider rehab cost to be $75,000 in that case. House is listed at $90,000. Once I subtract all costs, rehab of $75,000 and add my small Wholesale fee, I’m in the negative in my offer. Please help!!!! Am I being too conservative in rehab costs? How can I tell? Even when the offer isn’t negative, it’s only because it’s a “light rehab” of $25,000 and the offer is still way too low Im starting to think. 

[Jim Pellerin]

It's quite possible for your calculations to come out negative. Its means theres definitely no deal. 

You will need to look at a lot of properties before you find the right deal. Also, your offer is based on the ARV, not the list price.