Is this a deal??

[Bret Burkett]

I live in Dallas and have a neighbor who is looking to sell a house that he owns in San Antonio. Pretty sure he owns it outright and he said that if his renter doesn't buy it from him he'd take $125k for it. I imagine it needs a small amount of work but he says the renter(who is a friend of his) takes great care of it. ARV seems to be around $170k. Rents look to be around $1,350.

Is this a deal? If so, how should I procede? I want to help him out but also break into RE. I'm thinking this could be my first deal. 

Thanks in advance for the help. 

[Tim Macy]

@Bret Burkett You should get in touch with a real estate agent here in San Antonio and make sure the numbers they're giving you are accurate.  Get some real sold and rent comps.  If those numbers still look good, then see the property to make sure it's in the condition he says it's in.  

I'd also recommend, if you're going to wholesale it, make sure your numbers are very attractive.  Some guys are wholesaling deals at 78% down here, but those are experienced wholesalers with large buyers list.  Selling the first one can be tough, so I would look to get as low as possible and not try to skew your numbers to make a bunch of money.  Take the opportunity to build a reputation with a great buyer and put the money right back into marketing.