Wow - got a contract that is a two property deal.
The landlord has 10 properties, was in an auto accident and is now behind in taxes
He needs to sell and gave me the contract on both properties.
One is currently rented and the tenants have been there for 3 yrs with no plans to move
small updates needed but solid rental
second one is a duplex. one side solid rental but needs a bit more work. The one side is gutted when he was going to remodel but never got to it.
So he gave me a contract to sell both together or separately.
What wholesale fee should I work out on each type of sell?
I’m still working on figuring if I should do 2500 / 5000 / or even 10k on contracts.
What type of fee structure do you use as a guideline?
I try to get a $20,000 assignment fee on my killer deals, if it don’t sell then I start lowering it, sometimes it gets down to $2,500 b4 I find a buyer.
It’s impossible to answer your questions, we don’t know the numbers, the market, how hungry are the investors and how desperate are the sellers.
Is it a good working class neighborhood or drug infested run down shanty town?
Most times I decide how much I want depending on the deal. Landlords pay more, cash investors pay less and end buyers with bank loans pay the most. Nobody with a bank loan is going to buy the junkers I flip. If I can get a junk house on contract and sold in 3 weeks and walk away with 5-15 grand, I’m happy.
You gotta learn the area, the buyers, consider the condition of property and do you want to fast flip it or shop it to a million Craig’s List readers. That’s why you shud start in your own town or city, to learn the basics b4 you go forth.