wholesaling vs rehab in baltimore
I've got a possible REO deal brewing. $15k list price and i think the ARV would be at least $70k remodeled. That's based on comps on the same block; one row house sold last month (only 100 sf less) and the exact same model one year ago. What concerns me whether this can be wholesaled is this: when i compare the list and close prices on the MLS they are very close indeed for the cash sales in that zip code area; yet they are further apart on the retail sales. One or two even sold above list for the cash sales. Only one or so sold below.
The property i'm looking at just came on the market july 3rd. Could it be that i forgot to check the full listings on the others to see what the original list prices were? Is that it? Could i still make a low ball offer here or is the $15k such a good deal that i should go for it and rehab it myself??
another crazy concern is if it would take till the fall/winter to sell a rehab is that too risky being that that is the "slow" season??
By the way i have the cash to buy and rehab this if that makes any difference.....
thanks for any advice on this.....marge binder