Wholesaling
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 8 years ago,
Getting a my first wholesale deal done
I am looking at a wholesale opportunity in Idaho. The property appraised at over $550K, needs about 60-100K in cosmetic repairs (it's a very large home) for an after repair value of 650-700K. These are truly cosmetic repairs as the bones are in amazing shape. I would like to get it under contract for $450K, which would give an investor a very healthy return. I would love to do the rehab myself but I don't have the liquid funds available at the moment.
How can I get it under contract without being pre-approved at that purchase price? Also what type of earnest money should I offer? The ARV is more than double the median home in this area so I'm also concerned that I am limiting my pool of investors and/or buyers and I don't want to get stuck with the contract. Any help here would be amazing!