If you know you have good control over external factors they can make a deal a lot simpler.

I agree the external forces (HOA and regulations) could severely hinder the cash flow the condo is producing.

Trying to time the market is a fools errand in my view unless you are a seasoned pro and have seen multiple full cycles and even then it’s impossible to really know as these markets are so complex and with so many external factors - trying to understand the second, third, fourth and many other order effects which really impact the market is beyond humans to truly do, in my view.

We redid the flooring, internal & external paint, updated kitchen and bathroom and modest landscaping.

Say you wanted to change the lot from residential to commercial restaurant space, the city requires external improvements, such as making the corner cross walks ADA accessible and reprogramming the traffic lights to be pedestrian friendly.

Some of it comes down to luck, and other external circumstances so my advice would be take what the market gives you.

His plans are: in addition to the MLS, networking with other in house agents and external contacts (not sure how many he has though).

Phoenix investors,A lot of the good looking deals I come across either have known foundation issues or signs that point to that ex. lateral cracks internal/external, slight sag in roof, garage slab rising or sinking to driveway slab.

Fast forward to Jan. '22 and the renovations to two units and external portions of the home still aren't complete.

And as a wholesaler - you should always request the buyer have a larger EMD than you initially invested.In certain situations, EMD can be funded externally which can help some wholesalers who are just starting out.