Is the formula the same for making offers on move-in ready properties as it would be on a property that needs to be rehabbed omitting the rehab costs?
For example, I have some sellers that I believe are very motivated from what their realtor told me. The house is vacant as the owner has gone to a nursing home. The owner’s children are in charge of selling the property and do not want to deal with it anymore. Listed price on the house is $74,900. Area comps. tell me it’s worth about $70,000. It is in move-in condition, but a little updating could be done such as fresh paint and new flooring, which would be minimal cost, but would not have to be done.
I guess I’m wondering how to figure out how to make a wholesale offer on a move-in ready house where it’s a win-win-win situation for seller, buyer, and me. Is it the same standard formula for a wholesale rehab, but without deducting repair costs or is there another formula to use it move-in ready properties?
For now I just want to wholesale properties, so I’m looking for ways to do this when I come across motivated sellers of a move-in ready property.
Thanks for any and all help.