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Updated over 6 years ago, 05/22/2018

User Stats

8
Posts
0
Votes
Cynthia Hernandez
  • Investor
  • Corpus Christi, TX
0
Votes |
8
Posts

How to make an OFFER?

Cynthia Hernandez
  • Investor
  • Corpus Christi, TX
Posted

Hi, I need some help here with my first wholesale offer. Mind you, if I go through with this..it will be my first wholesale deal. So here's the thing.. This lady wants to sell her house for 100,000. I pulled up comps for it and I got between 134,000-161,000. I already did a walk through her house and it looks perfectly fine, it doesn't need much repairs. The only thing is that I don't know how come up with an offer yet. I have talked to an investor and he said I could do this method. Which is getting the ARV-repair cost - assignment fee= offer...so I got this 158,000x.70=110,600 then 1,675(sqft)X9=15,075(repairs) then

110,600-15,075=95,525 then 95,525-5,000(assignment fee) = 90,525 (offer)

Can someone please tell me if I'm on the right track here?? I really don't want to blow this away. Also another note, she just told me she has a mortgage on it for 92,000.. What do I do??? Someone please show me the right track in baby steps. 

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