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Updated 10 months ago on . Most recent reply

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Kris Villasenor
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Math not mathing on wholesaler lists

Kris Villasenor
Posted

As part of my investing journey, I'm now on quite a few wholesaler lists and receive off-market deals almost daily.

On properties I'm interested in, I'll get into the research on the property and then run numbers (working hard to develop these skills), and then I'll notice that some of these deals aren't deals.

For example a property is being wholesaled for 120k, but was last bought in 2022 for 60k, it needs a ton of work (30k est), it's vacant, and they say'll it'll ARV at 180k and the neighborhood comps (both nearby sold properties and even rents actually) do not support that ARV. It won't cash flow, and it's like the wholesaler wants the appreciation before it, you know, appreciates.

It feels like some wholesalers are hyping up properties to out of state investors (of which I am one) and they are banking on us not doing even the basic amount of calculations.

I wouldn't touch quite a few of these wholesale "deals", and am wondering what the purpose of wholesaling is actually. Is there something I'm missing?

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Alan Asriants
#1 Rehabbing & House Flipping Contributor
  • Real Estate Agent
  • Philadelphia, PA
1,019
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Alan Asriants
#1 Rehabbing & House Flipping Contributor
  • Real Estate Agent
  • Philadelphia, PA
Replied

Bro, if you just add a 4 story addition and rent half of it as an air BNB and the other as a LTR you'll be able to cash flow for sure

Purchase price: 120k

Rehab: $500

ARV: $7.4M

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Alan Asriants - New Century Real Estate
5.0 stars
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