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Updated over 14 years ago,

User Stats

39
Posts
2
Votes
Travis Newton
  • Texas
2
Votes |
39
Posts

Repair Cost help!

Travis Newton
  • Texas
Posted

My question is this, I’ve been wholesaling for about 6 weeks now I’ve had 3 deals come and they all fell through for a variety of reasons. Well I now have a fourth deal and would like to finally cross the finish line. The issue that I’m having is estimating repair costs, the house is in rough shape and its in a somewhat bad area.
Repairs:
1. Needs a hot water heater
2. Needs an A/C unit (I’m in TX)
3. All the wiring was stripped out so it needs new wiring throughout the house
4. Paint
5. Landscaping (minor)
6. drywall/walls where the wiring was stripped (so every room of the house)
7. Needs a kitchen sink

The ARV is 69,500 I would like 6K off of this deal, since I’m splitting the assignment fee with another wholesaler that has the buyer ready to go.

ARV*65% - assignement($6000)- repairs(which I have no clue what they should be)= Offer to seller

When I talked to the seller initally she said the lowest she could go would be 35K, but after seeing the house that number has to drop.

thanks for the help guys!

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