She is honest and knowledgable.Anna Stollings ~ RealtorMulti-Million Dollar ProducerOAR Presidents Sales ClubHigh Point Real Estate Groupwww.AnnaStollingsHomes.com

Here is the backstoryMy wife happened to drive by and found the home directly after the sellers agent put the for sale sign in the front yard.

Also, taking strategic acquisition approach in purchasing especially in a  depressed market is like couponing at a huge sale and then adding a coupon on top of the bulk discounted price.  

Since you're in Florida, I assume you're making offer using the FAR/BAR As-Is.You can make a cash offer (assuming you have the cash and proof of funds to back it up), but still reserve the right to finance a portion of it. 

Slowing sales, increased inventory in high priced homes, buyer fatigue with escalating prices....

Each payday, I bought faucets, fixtures, knobs, cabinets-whatever was on sale.  

Wholesaling is a sales and marketing business...period!

Account ClosedI would just add the repair cost and cap rate to your numbers there.Do you have any REOs/short sales and such in the area?

:)This house is in Birmingham, AL and I am trying to wholesale the propertyThis house is listed with a realtor on the MLS for $79kARV is about $75k and minimal updates / repairs are necessaryThere is $68k remaining on the loan balance, but the seller is behind a few months on the payments and might have to short sale it to the bank (does this even make sense, I'm not entirely clear how short sales work?)

You get the cap rate from closed sales of similar properties.