Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 8 years ago,

User Stats

11
Posts
0
Votes
Laura M.
  • Monte Vista, CO
0
Votes |
11
Posts

Can I wholesale a deal that I am unable to keep?

Laura M.
  • Monte Vista, CO
Posted
I have a contract to purchase a 2-unit house in one of the few cute, historic Colorado towns that are still affordable. The historic house is currently commercial on the ground floor with an apartment on the second story. Can be used as commercial / mixed use or as a 2-unit residence. The downstairs unit doesn't have a proper kitchen, because it is currently being used as commercial space. Except for the missing kitchen cabinets & appliances, it is perfectly rentable (needs paint & new carpet, and associated freshening up.) I planned to purchase the house and turn it into a short term rental (Airbnb). THe house is selling way below its market value because it is currently junked up with the owner's possessions, and the owner is a curmudgeonly old guy who is not a savvy seller. However, I am simultaneously purchasing the major historic building in the downtown, so I just don't have the capital to purchase this house. My price is easily 100K below what the house would be worth if the property were cleaned up and marketed properly. And that is without taking into consideration the major investments in the downtown that I have inside knowledge about. Am I crazy to try to find a buyer who does have the capital and wholesale it? It seems like it could be a GREAT deal for someone else to flip or BRRRR or to hold long term. I don't know anything about wholesaling, and have never even considered it until today. Would love to hear some thoughts or advice. Thanks!

Loading replies...