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 over 6 years ago,

User Stats

4
Posts
0
Votes
Jessy Moser
  • Crosby, TX
0
Votes |
4
Posts

Finding buyers for an unusual property

Jessy Moser
  • Crosby, TX
Posted
So this is my first time posting on here, but I try to read and listen when I get some time. I went out and got my real estate license, and got into wholesaling as well, and through real estate I found a landlord that was wanting to sell his properties through me as a Wholesaler. I explained how the process works and he's ok with the profit split. We got the contract signed, and I started looking for a buyer. Being pretty new to this I understand that selling your first wholesale deal is gonna be rough, but this deal seems like it's gonna be a bit harder than a normal one would be. You see, the property consists of 5 house, and one of them is a triplex, and 5 RV spots. All of the rentals are being rented out, but only 2/5 of the RV spots are occupied. It's getting $5550 currently, with full RV spots, and increasing rent (it hasn't been increased in 10 years for a few of them) you could get quite a bit more per month. The buyer is looking to get a cash offer for it, but I've only gotten really low offers, like in the $200k range. Using the 1% rule you could assume this place is at least worth $550k and on the tax records it's worth $375kish. If the numbers are there, why is it so hard for me to find a buyer that's not trying to low ball me by $300k?? I mean, I can get him down to the $450's, but $200k isn't even worth his time.. I'm running out of time on this contract, what should I do???

Loading replies...