All Forum Posts by: Adrien C.

what's more important is the ARV and the gap between that and the asking price. What's owed doesn't make a difference to the end buyer. They just care about making a decent profit from the transaction.

do wholesalers ever ask for proof of funds from a cash buyer in addition to EM? I can see the value in this when working with an investor for the first time.  

are you wholesaling this property for free? If you get it at 40K, what is end buyer getting it at? It's nearly at 90% ARV before any rehab as Jim mentioned.

hello and welcome to BP. What's one thing in RE you want to accomplish by the end of the year? 

I do- send me a private message and I'll pass his info to you 

give him $400K, take your cut, and buyer is still getting a some good equity for touch ups and selling. 

I'd recommend asking those questions before marketing for properties. Read the threads on wholesaling here on BP. This biggest tip is that getting a purchase contract with the seller is worthless if it isn't a deal an end buyer would get excited about. It's ok to walk away if the numbers aren't favorable. 

 Lol- still trolling the wholesale threads. You're a seasoned pro letting everyone know your side of the fence on it. We're talking years of it. Yes in Ohio and some other states they have very strict regulations. However there is a proper way to wholesale within those regulations and especially in states that are more friendly. 

I'd save some energy and drop your vendetta against it. I mean most of these people get all excited about wholesaling, create a BP account, try it once, realize it's not the easy money they thought, move on, and have a dead BP acct with no activity in 4 months. 

there's not a lot of room to wiggle there. Assuming it's paid for, I'd maybe offer 8-10K From his profits, he can pay the taxes. You don't overpay for a property because it wasn't responsible enough to pay his taxes. You have a small assignment fee of 2K and hope someone wants a cheap house in a bad part of town. The 70% rule is hard at values this low because a new roof is a huge chunk of that %. 

Do you have buyers who are looking for stuff like that? It sounds like a yucky "deal" for you to cut your teeth on. 

Hi- welcome