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All Forum Posts by: Shawn Hershberger

Shawn Hershberger has started 7 posts and replied 14 times.

Wholesaling

Post: Wholesaling an REO

Shawn HershbergerPosted
  • Wholesaler
  • Canton, OH
  • Posts 16
  • Votes 2

Now I'm concerned my ARV is completely wrong...

0 Votes
Wholesaling

Post: Wholesaling an REO

Shawn HershbergerPosted
  • Wholesaler
  • Canton, OH
  • Posts 16
  • Votes 2

I agree, fantastic price and we were very surprised to get it, and yes numbers are correct. $85-$90k are the comps for retail, not sure I could ask that from a cash investor buyer. For cash buyer, most likely around $75k based on cash buyer comps.

0 Votes
Wholesaling

Post: Wholesaling an REO

Shawn HershbergerPosted
  • Wholesaler
  • Canton, OH
  • Posts 16
  • Votes 2

Just so I understand different options, lets assume no assignment. How would you structure a wholesale sell?

0 Votes
Wholesaling

Post: Wholesaling an REO

Shawn HershbergerPosted
  • Wholesaler
  • Canton, OH
  • Posts 16
  • Votes 2

First post guys! I come from the rental world, but recently liquidated and am moving to wholesaling, just fits my business model much better.
Here's the scenario: I made an offer on a REO about a week ago. Price was $62k, a realistic ARV is $85-$90k. I made an offer of $44,500 and the bank accepted it today . House was remodeled and needs 'maybe' $2k in cosmetic upgrades, investor bought it did the work and ran out of money.
My question: how should I wholesale? I don't think the bank will allow me to assign, or will they?

0 Votes