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Updated over 6 years ago,
Looking to get property under contract, need help with offer
Hello Everyone,
I have some motivated sellers and I'm trying to structure the Option to Purchase contract but after doing the numbers using the Wholesaler calculator available on here. I'm a bit confused as to how to offer it or if I'm not doing the process correctly.
I've spoken with both buyers a few times.
1st house is worth 103,059 and was bought in 2007 for 94,500. They are asking the pay off amount of (the wife just wants to get rid of it) 83,500. The husband is asking 120,000 (way over value for the area). I know most flippers look for 65%-70%Arv - Repairs - my fee. But do I walk away because it is priced over 66950? or figure something out creatively
2nd house Arv 160,000 built-in 2004 no updates purchased for 114,000. they're wanting full price 162,000. rent 1000, I'm thinking to offer 85,290.25 because that leaves room for a nice profit for my buyer and renovations and their closing costs.
This seller is also asking 55000 for another home he owns but the arv is 30,000 because of the area which he purchased around the same time. I was thinking of offering 17478.80