Newbie to wholesaling , first deal under contract need help.

[ANDRE SMITH]

I have my first deal under contract .It is a 3 bedroom , 2.5 bathroom 2300 SQFT It is a rental and it has a current tenant who is on a month to moth lease. The property doesn't need any repairs just basic refurbishing in between tenants.There are no issues with the property. I ran the comps and came to a ARV of $268,000 , I have it listed at $225,000 is this too much or should it be listed for less. It is in Atlanta, Ga. I could really use some help. Thanks in advance guys.

[Will Barnard]

Originally posted by J Scott:

IF repairs are $15K and IF the conservative ARV (which is the same as the retail sales value) is $168K, then $195K is the maximum I believe most rehabbers would be willing to pay.

Jason meant to say that the ARV is $268k, not $168k.

At any rate, by the numbers Jason posted, he would be all-in for 78.3% of the ARV which is a very tight deal by my standards, I try and stay at 75% or below. However, I see investors paying 80%+ all the time so it really all depends on what your buyers criteria comes out to be.