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Updated over 1 year ago,

User Stats

4
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0
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Sam Minter
  • Investor
  • Louisville KY
0
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4
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Should I wholesale this property or seller finance?

Sam Minter
  • Investor
  • Louisville KY
Posted

I have this property in the west end near Portland im looking to put under contract. Here’s what I have so far: The property used to be a church but is going to be converted into a multifamily home. It has about 4-6 large rooms upstairs and the main church area downstairs. It has 3 bathrooms as well. So far the seller has put a new roof and new stairs in the back of the property but the entire inside needs work. The seller wants $25k for the property but is willing to negotiate. If I do seller finance then he wants at least $12,500 down. 

Should I try to get a discount on the property and wholesale it? According to Zillow and other resources the property is still listed as a church so I couldn’t find any comps for it. The seller says it will need about $35k-$65k In rehab but Im unsure about it. 

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