How To Factor Your Wholesale Fee?

[Frantzces Lys]

Hi Everyone,

I have a question. I am hoping that this will be my first wholesale deal. I have a motivated seller who owns a condo in a very sought out neighborhood in DC. It's a 1 bedroom 1 bath condo about 502 sq. ft. Condo fees are $467, yearly taxes are $2,062. It's in poor condition. Condos are selling for $300k in the building. The taxed assessed value is $242,600. 

Things that need renovating:

The kitchen

The bathroom

New floors (or rebuffed)

All new paint

New cabinets

All new appliances

New counters

I have an investor that is willing to offer $150-200k for it. I think this would be a good price for the owner, she is elderly and needs some savings.

What would be a reasonable wholesale fee be? I have a hard time factoring those numbers and what a good rule of thumb is.

Thank you in advance!