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Author Topic: Wholesale in the ATL???  (Read 2221 times)

Offline big dog

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Wholesale in the ATL???
« on: April 12, 2005, 10:20:47 am »
I'm new to this site and have a question about wholesaling a property I have under contract.

Here are the details:

The property was listed at $180k.  It is under contract for $160k.  The home is in bad shape but in an up and coming intown Atlanta neighborhood.  Older homes in the neighborhood are being renovated and sold for $280-320k.  Other homes are being torn down and new homes built on the lots selling for $400k+ (the new homes have not been build/sold yet but the lots are being prepared -- and they are only about 10-12 houses down on same street).

How do I locate a developer who will buy the lot to build on?  Or should I buy and attempt to renovate?  FYI, i'm scheduled to close by end of month and need to act fast.  Also, the lender is having issues with the house b/c it is not currently in "good condition" despite the house appraisal coming in above purchase price.

Any thoughts?

Any thoughts

 




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