Wholesaling Question...

[Shunda Walker]

I have a house under contract...here is the schematics:

ARV: $99-122k

(source of ARV: www.trulia.com)

Repairs estimate: $15-20K

(needs new roof, new sheetrock for certain parts of the ceiling...trash-out throughout the house...needs new wiring and plumbing as some wiring and pipes were taken by vandals as well as the water heater and SC unit outside)

Tax Lien: $1K

Seller wants $38.5K

I priced it at $48K ( I plan to wholesale this)

Thoughts?

[Ryan ODonnell]

I haven't found a lot of accuracy with online value sites. Check the sold comps in the last 3-6 months to get a real idea of what it will sell for. If that's somewhat accurate it doesn't seem too bad except maybe the area if they're taking the plumbing and copper. There's buyers out there that have their own crazy version of what a deal is, so the question becomes can you sell it.