PLEASE HELP QUICK!

[Jesse Conners]

Ok.. a motivated seller called today. his house is worth maybe 175k. Comps range from 143k-195k a lot of them being south of 175k. He owes 183k ruling out keeping the existing loan in place (right?).  He says his rock bottom price is in the 150's ruling out the wholesale. The house was built in the 70s and doesn't need any major repairs but could use some updating. I've heard a lot of experienced investors say they have a strategy for every situation. I'm having trouble finding an end game for this one and would hate to let another opportunity slip through my fingers as I have spoke with a lot of sellers but have not yet closed a deal. Any advice would be greatly appreciated.

[Laird Wynn]

Jesse,

As a wholesaler you are likely to run into a lot of properties that are marketable but do not have enough margin to make wholesaling them profitable.  The best way to take advantage of these is to get your real estate license and list the properties for sale.  Collect the commission income on the properties you can't wholesale and make more money with the same effort.

I invested for a long time before I got my real estate license and now realize that was a mistake.  Give it some thought.