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Updated over 5 years ago,

User Stats

5
Posts
0
Votes
Kee Barber
  • Contractor
  • MD (maryland)
0
Votes |
5
Posts

Assistance with a possible lead and mentorship

Kee Barber
  • Contractor
  • MD (maryland)
Posted

Hello I had a question for an experienced investor . I have a possible lead with a rental property located in Maryland , that's already cash flowing roughly 2500 per month. I want to wholesale it, the owners wants 199,000 , and the ARV is about 221,000. There is no realtor , and I have an appointment in a few days to take my contractor to do a repair estimate on it , I was told it would be a lipstick rehab. My question is if the property is already cash flowing monthly with tenants, and will need a minor repair , how do I determine what my end buyers profit return will be , 10-20% maybe? On a building that already has positive cash flow.. This family owns 9 properties free and clear and I'm just have a few deals on my belt , would it benefit me to do a double close? I haven't wholesaled a rental any advice?? I'm looking for investors and wholesalers any kind in the Maryland area , also with some experience in the city Properties with this I'm looking to pay for mentorship, and even jv on future deals thanks guys..

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