1st Possible Wholesale Deal

[Vante'e Keena]

Found a 2 family home in Brooklyn, NY that needs some work. I'm estimating $150k I'm rehab costs. Seller is asking 1.6Mil. I researched and found the property last sold for $986K and then for $1.2Mil in September of this year. The area is appreciating and the average pricing in the area is around $1.2-$2.5mil. Do you think I can talk the seller down to $950k ?

[Tim G.]

Originally posted by @Vante'e Keena:

Found a 2 family home in Brooklyn, NY that needs some work. I'm estimating $150k I'm rehab costs. Seller is asking 1.6Mil. I researched and found the property last sold for $986K and then for $1.2Mil in September of this year. The area is appreciating and the average pricing in the area is around $1.2-$2.5mil. Do you think I can talk the seller down to $950k ?

I want to be kind with my response. You sound like you're new and I applaud your motivation, but no I don't think you can get it down and the house is already listed on the open market. Every investor in the area already knows about the house and can just go buy it from the seller direct. Find something off market, don't waste these folks time.