Can you wholesale move-in condition preforeclosure properties

I was wondering if anyone out there has been successful at wholesaling move-in condition or minimum repairs preforeclosure properties. If so, what is the formula do you use for your offer price.
I’ve read that some utilize the following formula:
FMV X .70 - repairs - wholesale profit = offer price

Would the formula be the same for any type of property regardless of the condition?

By the way, this site is so awesome! :banana

You can wholesale any property if it’s cheap enough, and you have a buyer’s list.

If you have the buyer’s list, you might be able to do deals at higher prices.

Some of the buyers will be looking for rental properties and will be more than happy to take deals at 80-85% of market value.

Don’t let a formula from a book drive your business.

Excellent response PaulBroni! It also makes the point that networking is key - that’s how you find those kinds of buyers Paul’s talking about.

I wholesaled a move-in condition house last year. The owners were not in pre-foreclosure but they were close to it. I made a $35,000 profit on it. The owners were desperate to move and they offered me the perfect deal. I found a buyer in 3 days. Closed in 30.