100% equity wholesaledeal

[Christopher B.]

hello BP, im new to wholesaling and investing in general, I recently sent out a bunch of yellow letters to some absentee owners n got a few call backs today,

Im new to this so pardon me if it sounds like a stupid question but My question is how would i approach a property that has very high if not 100% equity. Now im just going off what the seller told me via phone, i have yet to see the property for my self to see if it does indeed need repairs. All she said was that it was repainted but no neccesarry repairs.

But if the property doesn't, would an end buyer still want to buy the property with no repairs needed? wouldnt the seller feel lowballed if i was to offer 70% of the arv minus my profit?

[Josh R.]

If the sellers have no motivation to sell they wont accept a wholesale number. People accept wholesale numbers for a variety of reasons even when they own the property free and clear but there always has to be motivation. One example would be impending healthcare costs and they dont have time to wait on a traditional sale and need cash now.

As far as who would buy a property that needs almost no repairs you would more than likely be able to sell a deal like that wholesale to a buy and hold investor or possibly even sell it retail at a discount for a quick sale.

Just some food for thought. Good luck!