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Updated over 3 years ago on . Most recent reply
30 percent discount when wholesaling
How important is it to get a property under contract for a 30 percent discount when wholesaling? (ARV - 30%) Right now I am negotiating with a seller and with the numbers I calculated at a 30% discount puts me under another buyer. Should I hit the seller with the offer and move on if he says no or readjust the discount? This would be my first wholesale deal. Any help is appreciated thank you!
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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
Originally posted by @David Frandsen:
I like Brent Daniels(TTP) formula: ARV x .84 minus rehab cost, minus your wholesale fee.
Huh? A 16% gross margin means you'll lose money after holding and selling costs….assuming your ARV and rehab costs were perfect.