analysing a property for wholesaling

[Dameon Pearson]

I know about the BP wholesaling calculator but what are some questions i need to ask when dealing with a motivated seller like how do i find out how much the repairs will cost, and holding cost , transaction cost how do i find these numbers

[Tim Herndon]

@Dameon Pearson

If you are going to wholsale houses you will need to meet with contractors or subcontractors in the beginning to learn what the costs are going to be for each type of repair needed. The motivated seller isn't going to be able to tell you that. Additionally, the title company can give you estimated closing costs based on the purchase price amount.  If you are assigning the contract then you new cash buyer will be paying those closing fees. If you are doing a double closing then you will have to pay the fees on th A to B transaction but I make my buyer pay the fees on th B to C transaction. There should be no holding costs if you are wholesaling. But if you are going to Prehab or Rehab the property you will have holding costs. I hope this helps! Good luck!