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Updated over 4 years ago on . Most recent reply

User Stats

4
Posts
1
Votes
Christian Powell
  • Philadelphia, PA
1
Votes |
4
Posts

Just Starting off, may have found a deal

Christian Powell
  • Philadelphia, PA
Posted

So I am just starting off on my journey as a Real Estate Investor, and May have found a off market deal by an agent I know in the area. Here are the details

Asking price 80K

Repair - she(agent) says 100k (I haven’t seen inside yet)

ARV is 325k

I was going to try to wholesale it for 90k for a 10K assignment fee. My question is, should I start skip tracing the cash buyers in that area before putting it under contract? How does it work when an agent is involved? Before anything should I go see the property to confirm repair cost? Everything seems so easy until you have a deal on your lap 😂

Most Popular Reply

User Stats

112
Posts
63
Votes
Eddie Brady
  • Realtor
  • Frederick, MD
63
Votes |
112
Posts
Eddie Brady
  • Realtor
  • Frederick, MD
Replied

The better question is if the ARV is anywhere close to 325k, why are you not flipping this house yourself? That could catapult your net worth and allow you to 1031 exchange into many future deals.

  • Eddie Brady
  • [email protected]
  • 301-395-0815
  • Loading replies...