I Flip in GA and FL, I'm a licensed agent in FL. I

I know everyone uses the rule of 70% but in some cases that flies in the face of reality.You were the first guy on the scene and he spoke to you,CONGRATS, now get him on paper.The owner right now has options and if you low ball him you lose!

Generally those guys are "fly by night" operators, and come nightfall, they'll fly.

Limited Land Trend: I concede I can't argue this point but I see alot of undeveloped brown stuff that goes on for miles when I fly into Vegas.

What kind of discount can I expect may fly?

I'd fly or drive there, look at the property and meet with the involved parties face to face.Jon

Once you get things figured out then go back to the seller and put pressure on them to offer seller financing to make the deal fly.

As Jon shared with you, conventional financing normally won't fly with wholesale deals.

That way you know what your profit will be and you do not have th front the cash.It will depend on their motivation and the competition as to if this will fly.

Ok,SO I have a freind that calls me and wants me to fly to Detroit to Invest..Here's the deal he has 20-30 properties that we can buy for 15K fix for another 30 KWe will be Rehabbed at 45KThese rent for $900The ARV is 90K for this market but resells are bland right now..Our take is to get 60% LTV BANK loan of 54K at 20 year AmWe will cash flow at about 150 a door per month on the 20 Year noteSo 30 of these we will get9K in pocket * 30 =270K36 K Networth Increase * 30 = $1180000 Millionaires150* 30 = 4500 a month cashflow!