All Forum Posts by: Sandy Weed

What kind of spread do you tend to see between the list price of the asset vs what you resell it for? For example: REO listed for $100k - been on the market for 90 days. ARV of $140k. What would you contract it for and what would your end buyer likely pay for it? Do the end buyers want to see a big difference between the list price and their price?

I think everyone has misread the question. I am looking to pick the brain of someone who wholesales properties that are listed on the MLS. I mentioned that I am licensed because I figured most people would recommend working with an investor friend realtor etc and that step would be unnecessary for me. I am not trying to wholesale off market properties and list them on the MLS

Does anyone in the group successfully wholesale MLS properties? Any tips and advise is appreciated. I am a licensed realtor in NJ.

Thanks 

My experience includes: previously wholesaled a HUD property, own several rentals and rehabbed several houses. Thanks for any advice

I will try that...thanks

Well, I guess it's not a question of if I am going to do the deal or not, it's how am I going to approach it.
$44k gross profit to me isn't slim; so I just need some insight on how to sign up the deal, especially with the bk mechanics lien in place. Is this something that I can possibly discount, or keep making the payments on?
I would like to take title sub2, rehab, refi, and lease option.
This strategy would net me $10k upfront after expenses (not including option payment) and $34k on the back end if I get cashed out by my tenant buyer.
The cashflow will be slim for sure, but I just want to make a little more than break even on cashflow in this particular deal.
If I had to use hard money or conventional financing to acquire this property, I would need more than $15k on the front end to consider this one, but the owner is willing to sub2.
thanks

I'm looking for help structuring this possible sub2 deal:

$154k mortgage
$11k mechanics lien via bankrutpcy
$8k rehab
$4k back taxes/get mortgage current/moving money for owner
$220k arv

My plan is to buy sub2, rehab (2-3 weeks) and either refi and lease option or flip.

I have never bought sub2, so I was hoping for some feedback from the forum. thank you