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Updated over 10 years ago,

User Stats

280
Posts
68
Votes
Jordan Archer
  • Rental Property Investor
  • Stuart, FL
68
Votes |
280
Posts

How do you make an offer (wholesale) on a property when you don't know the repair costs?

Jordan Archer
  • Rental Property Investor
  • Stuart, FL
Posted

Hey BP,

I just sent out a marketing campaign, and my phone is already ringing.

Naturally, I want to make offers on these leeds. How do I make these offers without knowing what will be required for repairs? I'll be able to run comps, but unless I see the house I will not know the Repair Cost.

Should I just make a generic 60% of ARV offer, and if they accept, go check out the property and determine what work needs done?

Or should I be more broad and say something like, "Are you ok with me buying your house at 50% or less of market value?" ... if yes, go see what really needs to be done?

Thanks,

Jordan

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