Advice &/or Assistance

[Nicole West]

Hello, How do you do? I’m Nicole , I’m a beginning wholesaler . After about a year of procrastination I took a leap of faith & believe I have a potential deal & I’ve come to a road block with overthinking. Being that I’m not experienced yet. I still need guidance. This will be my FIRST deal if it’s a success. I reside in FRANKLIN, TN . the property is a 3bd 2bth is located in Alabama. I have went through all necessary steps to acquire information I need. The owner asked to meet at property Saturday to determine repair costs. From here I don’t know where to go with this as far as do I have to hire a contractor if I’m willing to drive & see the property myself & do an estimate ? I want to make the offer when we meet this Saturday & begin offering to the buyers . He’s given me a $20K negotiation window from asking price already. Which is why I wanted to see it to make sure it checks out . The photos show it’s in great condition just outdated & he stated this .. I don’t want to lose the deal. I believe it’s a good deal from my learning and training . Im just on overload & at real estate block . I’m willing to partner with someone experience to get HANDS ON EXPERIENCE.. Thank you for reading .. any advice is GREATLY NEEDED & appreciated .

[Lydia R.]

@Nicole West Hi Nicole. Thats quite ambitious for your first deal, a house in another state. A few things to take into consideration. 1. You will need to run accurate comps to determine the ARV of the property. I would suggest getting a realtor in the area (AL) to do this for you. Just because the seller backed off 20k doesnt mean its a deal 2. You need to either view the house yourself or send someone who will take current photos and give an accurate estimate of repair costs. 3. Have you given any consideration to who you wholesale this house to? 4. Do you have a contract and a title company and earnest money?

Not trying to discourage you, I just want you to take into consideration all these things moving forward. Let us know how it goes!