All Forum Posts by: Jonny Mcknight

Haha, no worries. Nope, just a million+ dollar home! Thank you so much!

Bill, excellent idea! Will note for future deals.

Mary, this is a house, fix and flip. 

Thank you so much Bill! Bless!

John, again this post is not about what I can nor cannot "pull off;" that is up to the buyer or seller, neither of which you are. I asked two very specific questions. If you cannot or do not know the answers, it's ok to scroll in silence. 

The specific questions I asked are:

1) Did I use the correct formula and is my math right on the offer price?

2) If yes to both parts of question one is correct, my offer is coming back to the original asking price, is this normal? Should it not be less by a hew hundred thousand?

Jonathan, I'm sure your intent was to help but honestly, you did not answer my questions, at all, and your line of questioning is more so personal than seeking info to actual answer the premise of what was asked. But for clarity, I have a longstanding professional and personal relationship with both the real estate agent and the buyer. They have many reasons to trust my judgement. 

That said, back to the matter at hand, the specific questions I asked are:

1) Did I use the correct formula and is my math right on the offer price?

2) If yes to both parts of question one is correct, my offer is coming back to the original asking price, is this normal? Should it not be less by a hew hundred thousand?

Would the community say I calculated the above correctly?

What I'm trying to analyze/figure out is:

1) shouldn't my offer be less than the listed price as my buyer would want a deal?

2) Given I'm going for a $120k assignment fee, I'm trying to get it lower than the listed price. 

My problem is my math isn't adding up (I think). 

If I did $4 million ARV x 70% - $500k - $120k The offer price is around $2.1 million. Does that sound right?

Hey Family, 

So, I've watched every single youtube video and ready every single article; I'm talking months on end regarding wholesaling a property but most have been on properties valued at $150,000k or less.

Today, I got a real live deal, in the millions and have no idea what a fair offer should be. 

The property is valued at $2 million, the rehab budget is $600,000 the ARV is $4 million and my desired wholesale fee is $200,000.

With this info, what should a fair offer be and can you kindly break it down? Thank you so much in advance.