Need some help! Want to close!

[Brittnie Stewart]

Things seem to really be coming along for me, I just need to close on a deal! I am really close to this one and just need a little help.

Here are a few details about the property:

In the Federal Hill area of Baltimore which is very desirable.

2 Bedroom. 1 Bath, however there is plumbing, an old sink, and toilet that is "technically a half bathroom" per the owner. (Not sure if permitted)

998 sq. ft.

I estimate rehab costs of about $25,000 - $30,000 needs to be completely done pretty much.

The owner is looking to get $140,000 out of it. No mortgage, judgments, or liens.

I'm getting stuck on the ARV. Here are the closest comps:

2/1.5  932 sq. ft $239,000

2/1  912 sq. ft.    $189,000

2/1  912 sq. ft.    $192,400

2/1  924 sq. ft.   $229,500

What would you say is the ARV? How much would you pay or offer? How much would you charge for your wholesaling fee?

I guess my biggest issue is when doing the math and adding in my wholesaling fee, it looks like $140,000 is way out of the question, but I'm nervous the owner will think I'm lowballing and reject.

[Marc Carlson]

Low ball, Low ball, Low Ball!  Don't ever be afraid of offering a low offer.  The worst thing they will say is no.  If the numbers don't work then walk away!  Don't put yourself in a situation where you pay too much for the property.  In the end, you will be the one who looses money, and the seller will not feel bad for you!  Trust the Numbers.

Happy Investing