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Updated almost 7 years ago on . Most recent reply

User Stats

7
Posts
2
Votes
Christopher Kinney
  • Broomfield, CO
2
Votes |
7
Posts

Can I wholesale a Foreclosure from Zillow?

Christopher Kinney
  • Broomfield, CO
Posted

Hey guys!

I am new to wholesaling and have been analyzing deals on Zillow to practice with the numbers. There is a 3 bed 2 bath listed for $60,300 as foreclosure. What exactly does the zestimate of foreclosure mean? (listed as $133,000). Comps show similar homes selling for $185,000. Average rental is $1,295/mo and monthly tax/insurance is $110. Is it correct to assume a conservative rehab cost of $20,000 and a closing cost of $2,500? I´m trying to get a sense of what makes a good deal that would justify moving on towards the next step of seeking out a cash buyer. If the numbers are good, it seems to me this is too easy. I assume that because I´m finding this on Zillow I should also expect to factor in the realtor´s commission? 

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