Should I presue this wholesale deal?

[Alli Issa]

I have a  potential  wholesale deal but before i put it in contract i want to get your guys feed back on it. this is a wholesale deal that i found just by putting we buy houses advertisement online specifically Cl and Facebook ads. Anyways the property is in the D neighborhood which consider as a hood but if I'm able to get it under contract for the right price to you guy think i should make a move for it?

Address 63 Stevens Ave Columbus, OH 43222

Property Type: Duplex 2/1 each side needs complete rehab  

ARV 25K

Agreed on 11k.  could possibly go lower depending if i asked since i can tell he was a out of state motivated seller . 

any feedback would be appreciated 

[Steven Leigh]

For an ARV that low, you would need to get it MUCH cheaper.

That being said, if you could get it for say $3-5k from someone who really just wanted to dump it, you might be able to wholesale it for 7-8k and make a little on it.

For run-down properties in bad areas, bandit signs can be really effective. Put a handwritten bandit sign in the yard of the property that says

For Sale
$7,000 cash obo
555-5555

Then put up several others at major intersections nearby that say

Cheap House For Sale
$7,000 Cash OBO
123 Main St.
(arrow in the direction of the house)

This worked great for a recent deal for me.

The reason it works so well is regular investors won't buy in this neighborhood, but contractors, small-time investors, etc. who live and work in the neighborhood will see it, and they're not afraid of the neighborhood. You will have some people who can put together the cash and either live in it or rent it out or both.