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Updated over 13 years ago on . Most recent reply

User Stats

43
Posts
9
Votes
Dante Williams
  • Wholesaler
  • Chicago, IL
9
Votes |
43
Posts

NEED ADVICE! HELP!

Dante Williams
  • Wholesaler
  • Chicago, IL
Posted

I have a newly rehabbed brick 2 unitproperety under contract on the southside of Chicago. It is located in a decent neighborhood and a great block! The FMV of the property is about $150k I'm wholesaling it for $109k. Everything has been rehabbed with a partially finshed basement and duplex ready attic. I'm having problems moving the thing! I put it out to all of my buyers but they would rather purchase and do their own work. I switched strategies this week and started calling land lords from news paper ads and go section8.com. I've already posted on the internet am I missing anything?

Most Popular Reply

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17,995
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17,196
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J Scott
  • Investor
  • Sarasota, FL
17,196
Votes |
17,995
Posts
J Scott
  • Investor
  • Sarasota, FL
ModeratorReplied

If it's fully rehabbed and worth $150K, why did the seller allow you to put it under contract for less than $109K?

The answer, I presume, is that it's not really worth $150K, which also explains why you're having difficulty moving it...

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