Possible First Wholesale Deal

[Justin Hernandez]

Hi all,

I am new to REI from NJ and have been reading a lot, but now want to take action. I have spotted a good possible deal that may be worth wholesaling to another investor. It is selling for $225,000, 4 Bd, 3 Baths, on a road off a major route, (not a neighborhood), very close to an interstate and parkway and they even clarify that the house needs a lot of work and is a perfect fixer upper. Everything in the house is original. It is a contemporary floor plan that needs major TLC and work. They say the value is in the land (2 lots). The house sits on 1 acre of land it is being offered with a 2.47 acre adjacent lot which backs a river.

How can I further analyze this deal to see if a potential investor would want it? I know I will be able to negotiate that price down, as it has not sold and was already reduced from original listing price after a month. It seems like a solid deal but I don't know how I can further analyze it to determine if I should take a shot and assign the contract to an investor. I am a little nervous as this would be my first deal at age 22.

Thanks,

Justin Hernandez