Wholesaling rental property

[Malcolm Brown]

I have seller who is interested in selling his property. The property has an ARV of 65k and is bringing in roughly a thousand a month. How can I determine my max allowed price without insulting the seller? He is asking 55k, but he is opened as well since he needs the money. I was thinking 25k but want to know if that's a good number to tell him without hurting him or myself.

[Brit Foshee]

@Malcolm Brown

It's really hard to comment without knowing what repairs are needed, average DOM in the area,etc. 

The easiest way to answer this question is,

"What do I KNOW I can wholesale it for?"

Then add your fee and go from there.

If you know you can wholesale it for 45K then 25-30K is probably a good place to start.

Hope this helps.