first wholesale deal (what should i ask?)

[Eric Senyonga]

Hullo everyone,....i am a complete newbie and i am interested in doing wholesale deals to get my real estate career moving...
i have so far been able to find a deal for a condo going for 58000 dollars and i believe its value is about 75000 dollars...the seller needs the cash for her mother's surgery...
i have set up an appointment with her for over the weekend to get more details...

what crucial questions should i ask during our meeting?

[Mary B.]

You need to secure evidence of the suspected ARV of $75K by getting comps of properties that match or are very similar to the subject property that have sold within the last 90days in 1mile radius or less.

You need to get a contractor / home inspector in to get a cost of repairs needed to the subject property. You can get a freeby if its just a verbal estimate(they charge to have it in writing unless its a buddy). This will help you with your MOA(maximum offer allowed).

You need at least two cash buyers. One to flip the property to another for back-up.

You need an investor friendly title/escrow company to close which you might want to perform simultaneously back to back closings same day. Be sure to disclose to the title/escrow co. beforehand that you are doing a same day double close in case they are apposed to it.

Kudos,
Mary