Is this a wholesale deal?

[Ellis Thurman Jr]

Good Morning,

I have a question. Say your doing a wholesale deal and let's say a lead has about $150,000 in equity and has a principal balance on the property of $100,000. Is this still considered a wholesale deal and could that situation be handle to make it a wholesale, or, would this be disqualified as a wholesale and qualify as, say, a lease option?

Thanks.

[Michele B.]

Originally posted by @Ellis Thurman Jr:

Thank you @Michele B.,

What is the sweet spot for a wholesale deal beside the obvious (free and clear)?

 I would say you need a good amount of room so if the property is worth 200 k you would need to find something selling for 120 k then sell it off for 130 K .... SO take that down to a 50 k  value, buy it for 20 k sell it for 23-25 k It just depends what you think it will sell for. 

Do not bite off more than you can chew.