All Forum Posts by: Kelsen J.

You may be able to find ratings and reviews for title companies on Yelp

@Matthew Paul 

 Do you know a typical hourly rate for a contractor estimate? Is it in the $10-20/hr range?

Hmmm I see your point!

I multiplied the ARV by 65% instead of 70%. That's how I determined my purchase price.

In regards to repairs, I haven't seen inside of the house. I roughly estimated $25k. According to the DC Tax Assessor, the property is in good condition. I'm not sure how truthful that is. I would have to see it with my own eyes. I will definitely use your numbers to estimate once I get a view inside.

But...I still think this is a good deal. That is a hot developing area. The property is located btw Eckington, Noma and Bloomingdale.

Comp sales for the area were:

29 Q St NE - $500,000
67 P St NW - $590,000
23 Randolph Pl NW - $685,000

I will definitely let you know when I get more details.

-Kelsen

Hi BP,

I am a newbie wholesaler. I may have found a potential wholesale deal if I can get it under contract.

ARV = $565k (based on recent sales of 4 similiar properties within a 0.3 mile radius)

Estimated Rehab = $25k

Asking Price = $343k

3bd/1.5bath...1480 sq ft...Eckington NE DC....few blocks from red line Noma Metro Stop

Let me know what you think. If you were a cash buyer would you be interested in buying my property?

The similiar sales used to calculate the ARV were all within a 0.30 mile radius from the property.

Hi BP,

I may have found a potential wholesale deal if I can get it under contract.

ARV = $565k (based on recent sales of 4 similiar properties in Eckington/Bloomingdale DC)

Estimated Rehab = $25k

Asking Price = $343k

3bd/1.5bath...1480 sq ft...Eckington NE DC....few blocks from red line Noma Metro Stop

Let me know what you think. If you were a cash buyer would you be interested?

Hi Michael, Welcome to BP!

It seems like we share alot in common. I'm also 26, I live in DC and im also interested in REI, specifically Wholesaling. I'm also new to BP as well. Maybe we can meet up some time to dicuss REI. I'll send you a colleague request!

-Kelsen

@Manny Cirino undefined

Ahh I see. Thanks for the response Manny!!

@Manny Cirino undefined

Do you have to pay the title company a fee for participating in the transaction? Is that an expense for the wholesaler, cash buyer or motivated seller?

I really like this idea!! Split with another wholesaler. Its better to get something than nothing.