OK guys, I’m new to this so bare with me.
I just found a seller that has a few houses in promising areas. Value has been increasing in some parts of these towns because investors are building it up plus its on the shore.
In his listings he says that he can do package deals, all offers are welcome etc etc. At the bottom it has these exact word
“Seller contributing $5,000 towards closing costs, etc.”
I’m going to look at these over the weekend to get an idea of the Maximum retail value. The comps that I have so far that sold within the past few months avg about 200k and the high is about 295k. This house is listed at 169k. So there could be alot of room for profit on this deal/deals.
However, I was toying with the thought of wholesaling these properties. Could the “$5000 towards closing cost, ect” work to my advantage in a wholesale deal?
I think I need to learn a bit more about wholesaling. How does it actually work. I would have to fund the deal? then I would sell it and collect the $5000 the seller is offering and then collect my fee from my buyer?