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Updated almost 12 years ago, 01/18/2013

User Stats

12
Posts
0
Votes
Christopher B.
  • Real Estate Agent
  • paterson, NJ
0
Votes |
12
Posts

100% equity wholesaledeal

Christopher B.
  • Real Estate Agent
  • paterson, NJ
Posted

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?

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