All Forum Posts by: Jessy Moser

@Jorge De Jesus and thank you for your response!

@Jorge De Jesus well all of the apartments are full, it's just the RV spots that aren't full, if you took those spots out, it's still worth more than $400k

So this is my first time posting on here, but I try to read and listen when I get some time. I went out and got my real estate license, and got into wholesaling as well, and through real estate I found a landlord that was wanting to sell his properties through me as a Wholesaler. I explained how the process works and he's ok with the profit split. We got the contract signed, and I started looking for a buyer. Being pretty new to this I understand that selling your first wholesale deal is gonna be rough, but this deal seems like it's gonna be a bit harder than a normal one would be. You see, the property consists of 5 house, and one of them is a triplex, and 5 RV spots. All of the rentals are being rented out, but only 2/5 of the RV spots are occupied. It's getting $5550 currently, with full RV spots, and increasing rent (it hasn't been increased in 10 years for a few of them) you could get quite a bit more per month. The buyer is looking to get a cash offer for it, but I've only gotten really low offers, like in the $200k range. Using the 1% rule you could assume this place is at least worth $550k and on the tax records it's worth $375kish. If the numbers are there, why is it so hard for me to find a buyer that's not trying to low ball me by $300k?? I mean, I can get him down to the $450's, but $200k isn't even worth his time.. I'm running out of time on this contract, what should I do???

So this is my first time posting on here, but I try to read and listen when I get some time. I went out and got my real estate license, and got into wholesaling as well, and through real estate I found a landlord that was wanting to sell his properties through me as a Wholesaler. I explained how the process works and he's ok with the profit split. We got the contract signed, and I started looking for a buyer. Being pretty new to this I understand that selling your first wholesale deal is gonna be rough, but this deal seems like it's gonna be a bit harder than a normal one would be. You see, the property consists of 5 house, and one of them is a triplex, and 5 RV spots. All of the rentals are being rented out, but only 2/5 of the RV spots are occupied. It's getting $5550 currently, with full RV spots, and increasing rent (it hasn't been increased in 10 years for a few of them) you could get quite a bit more per month. The buyer is looking to get a cash offer for it, but I've only gotten really low offers, like in the $200k range. Using the 1% rule you could assume this place is at least worth $550k and on the tax records it's worth $375kish. If the numbers are there, why is it so hard for me to find a buyer that's not trying to low ball me by $300k?? I mean, I can get him down to the $450's, but $200k isn't even worth his time.. I'm running out of time on this contract, what should I do???