Wholesale low income area property

[Marlon Jackson]

Anyone have experience wholesaling lower income area houses? Boarded up make of wood? I have pictures? I’m in the Major Dallas area?

[Lydia R.]

I cant tell you that, you have to determine what to offer the way you would on any other property. Determine the ARV of the house, determine the estimated rehab costs for a flip and also for a rental (low income properties tend to become rentals more often than they become flips). The standard formula once you have all those numbers I mentioned about is to take 70% of the ARV minus rehab costs, minus your wholesale fee and thats the maximum amount (give or take) that an investor will pay for the property. Im getting the sense that you have never wholesaled before, I would strongly suggest that you fully educate yourself on wholesaling( which includes calculating accurate ARV's and rehab costs, running comps, properly filling out a TREC contract, finding an investor friendly title company etc) before you just go out there and try to wholesale some random vacant house. My other suggestion would be for you to act as a bird dog for another, more experienced wholesaler or investor and let them pay you for leads like this since someone with experience would know what the next steps are, and could quickly execute them to try to negotiate a deal. Just my .02 cents. Feel free to PM me if you have more questions.