All Forum Posts by: Alex Bogue

as a wholesaler, when you get a verbal agreement on final price with a listing agent do i send my purhcase and sale agreement to the listing agent so he can submit it to the seller. or what comes after the verbal agreement part.Does he/she walk over the seller what the terms on my agreements are?

Im a new wholesaler and ive got my eye on a sfr thats listed for 265k free and clear owner, the whole inside is gutted so all it needs is appliances tiling/carpet, countertops etc... outside is mint and updated already. Theres two comps very nearby in very similar sqft that sold which was 391 price per and 429 price per sqft. The house im looking at is 888 sqft so i added the two sqfts of the houses that sold divided by 2 and then multiplied by my sqft (which is 888) and got and Arv of $364080. and im assuming the rest of the renovation is gonna be around 30k? not positive but ballpark guess not sure how much those cost yet... but im using the 70% formula so 364,080 x 70% - 30k (repairs) - 8,500(whoelsale fee) and i get $216,356 as my (MAO). Does this seem like a legit offer or am i missing anything here?

as a wholesaler after assigning contract to end buyer with existing mortgage and they take over, would it be reccomeded if i tell the end buyer about creative financing to another potential buyer

ive got a potential seller with an existing mortgage left over of 190k an the home arv is abt 310k how would i go about my offer price formula with the existing mortgage? 

310k x 70% minus repairs and my fee?

or is there a specific way of handling homes with mortgage