Originally posted by Ann Bellamy:
Alex Jefferson, an ARV of $300K is not high end in Westchester County. Far from it.
I know, I'm selling one in a few weeks in that area that is an estate property. It's in need of updates and repairs, and I'm not letting it go for anywhere near 300K. (This is not a solicitation, I'm listing it on MLS in that area)
The hardest part of wholesaling is NOT finding buyers. If you find a good deal, I can connect you to several investors who will buy it from you, even in Westchester County which is 4 hours away from me. The problem is finding deals AT A PRICE THAT WILL WORK FOR A SERIOUS REHABBER IN THAT AREA.
You can find buyers at the REIA's in the area, and I will give you the phone number of a rehabber if you get a good deal. But from the above and from what you are saying, you are paying too much for your deal. That's the problem.
IMHO. Actually, probably not too many of my opinions are humble. :-)
Good stuff Ann. I'm sure once I start placing these homes under contract, you will want to make any investors you know aware.
How about this..why don't you give me a good example of a Westchester home that would be a great deal for one of your investors. Give me the #'s so I have an idea of the type of deal you are talking about.
Also, you are so right about $300,000 not being high end. It's actually on the low end. I own a 2 bedroom co-op in White Plains where I live and it has a value of $275,000 - $300,000.
