Need some input

[Ken B]

Hi guys and gals. I'm wondering if someone can help with some input on these numers here.

I am dealing with a possible wholesale deal that I am working on right now. The house has been vacant for over 5 years, and it is a 3 bed/1 bath house, with an unfinished basement. The square footage is around 900-1000 sq ft, but the lot size is decent at around 6900 sq ft.

The ARV of the house comes in around the low to mid $400's. There are a few houses within half a mile listed around $430-$440K.

I estimate the house will need about $50K to get it to a sellable, presentable condition. I originally made an offer of $220K which got rejected, but about a week and and a half later, I get a call back and the seller says that he would like to sell and would take $265K. I countered with an offer of $235.

I figured for me to wholesale the house, I took the ARV of $430 took the wholesale price of $301 (70%), minus $50K estimate repairs, minus $10K (assignment fee) and originally offered $220K with the intent of giving me some negotiation room. I think $240K is the maximum I can offer that would make the deal worthwhile, but I'm just wondering if my numbers make sense to anyone else. At $265K, with an ARV of $430, I'm still getting the property at 63 cents to the dollar which doesn't seem that bad. From your experience doing wholesale deals, does anyone here agree with me, or is this just a bad deal for me to be putting my time into?