All Forum Posts by: Caleb Barnes

@Brian Nally I like that approach! I do believe someone would be willing to pay 150-170. 80k rehab would put the cost at 260k in an area that can sell for 310k-350k. Higher if you can get another bedroom out of the house given the comps in the area.

@Corby Goade I am looking at a 70% formula with a wholesale fee in mind. Exit strategy would be to get a fix and flipper to be the end buyer for this property. Wholesaling at its current price is not an option. Negotiations to get a price no more than 140k in its current state would be doable for the wholesale. Curious to know your thoughts. From the looks of the listing it used to be a rental. Seems as if the owner is ready to throw in the towel and be done with it. Possibly too much rehab for the cash flow he is looking for?

Hello all!
I have been looking around to find my first wholesaling deal and I believe I found a good candidate. It is listed for 299k and the surrounding comps are around 310k - 450k. Higher numbers in the area are with 4b 3b as this home is a 3b 3.5b. Needs a bit of rehab work as it has been stripped down inside. Heavy rehab 80k-100k. Punching in the numbers I believe this would be a good deal at 125k-135k and still have room on the other side. 

Any experienced wholesalers have any valuable advise or thoughts on this particular lead? Again this will be my first attempt at securing a contract an going through the steps needed for my first check!

Hello everyone on BiggerPockets! Here is my new member introduction.

1. 🌎 I am based in Virginia. I am currently looking to wholesale properties to start, then investing into fix and flip, and finally invest rental properties once I get established.

2. 💫 I joined BiggerPockets to NETWORK! Networking is huge in business and life. I am looking to network with anyone I can help reach their goals while learning and building up to my goals. Working together is a beautiful thing.

3. 🤪 Fun fact I know at least 1 person in all 50 states.

I really look forward to networking and becoming a big part in the community here online and out in the field! Feel free to message me and reach out anytime.