Need help. Let me know what I should do

[Paul Moorer]

FSBO 6bed x 3bath 3,730sqft haven't spoken to the owner yet to see what they wanna get for their property comps ran between 400k-550k

Owner has a current mortgage of 286k and from pics I’ve seen guesstimating on the generous side between 13-18k in repairs or updates could be more or less tbh. But 1. Am I working with a deal and 2. Can I wholesale or take a different approach, let me know?

[Lydia R.]

@Paul Moorer Ok a couple things, none of this matters at all if you havent spoken with the seller. Second, how do you know what their pay off is? Third, if they have that much equity and the house needs that little work (I dont think there is much in a 3700sqft house that can be redone for 13k) then what is their motivation to sell to you at a discount? Lastly, usually FSBOs are people who are too cheap to pay an agent 6% or an investor that doesnt want to use an agent. What makes you think this person is motivated?

Im going to get on my soapbox for a second. Wholesalers are looking for motivated sellers. People who are willing to sell at a discount in exchange for the certainty of a quick closing and a hassle free process. When you are looking at potential sellers you need to be asking yourself “is this person motivate?” Because if not then they are a waste of time. You could spend 3,4,5,6 months trying to get this one deal under contract and someone like me has done 20-30 deals in the time it took you to do 1