Is it a good deal? How should I negotiate?

[Account Closed]

the property I am looking at to get it under contract is advertised for $395,000

It need about $7000 to $9000 in remodeling. It's in really good condition. Just need kitchen remodeled. ARV is somewhere between $430,0000 to $450,000. Is it a good deal? I am thinkin about asking her to reduce the price from $395,000. This is my first deal. What's the number I should ask her. ? Pls help urgent..... Should I ask for $350,000 or $360,000.

I am thinking to make atleast 5,000 to 10,000 in this wholesaling deal! Pls help!

And again thank you for your BP Nation!

[Zaid R.]

It does not look like a good deal to wholesale - here's why:

Average ARV is $440,000

70% of that is $308,000

subtract the average $8,000 needed in for kitchen repairs and the number is $300,000

This tells me you'll have to buy the house for around $300,000 if you wanted to wholesale it the traditional way.

Since the $300,000 is a lot less than the $395,000 it's listed for you're probably gonna have a hard time bringing down the price by around 25%