If wholesaling, What would you offer

Bird Dogs, Wholesaling
1

Here are the comps for the area. The house is a probate. What would you offer?

Residential/Farm - Active
ADDRESS MLS # Status Area Sale/Rent SqFt Abv G DOM LP $/SqFt Abv G SP $/SqFt Abv G
333 Nectarine Street 10133369 Active 2 For Sale 1148 230 $25,900 $22.56
230 S 17th Street 10142977 Active 2 For Sale 1120 0 $65,000 $58.04
1029 S Seventeenth Street 10139491 Active 2 For Sale 1176 90 $95,000 $80.78
Total Listings Avg Avg Avg Avg Avg
3 106 $61,966 $53
Residential/Farm - Sold
ADDRESS MLS # Status Area Sale/Rent SqFt Abv G DOM LP $/SqFt Abv G SP $/SqFt Abv G
1613 THOMPSON STREET 10129968 Sold 2 For Sale 1144 182 $28,900 $25.26 $21,760 $19.02
1538 THOMPSON 10126622 Sold 2 For Sale 1176 11 $26,500 $22.53 $23,640 $20.10
635 Dunkle St 10137256 Sold 2 For Sale 1104 22 $28,900 $26.18 $35,000 $31.70
452 CRESCENT ST 10136547 Sold 2 For Sale 1168 43 $37,900 $32.45 $35,000 $29.97
1527 1/2 Derry Street 10140589 Sold 2 For Sale 1173 5 $40,000 $34.10 $35,000 $29.84
608 S TWENTYTHIRD STREET 10134249 Sold 2 For Sale 1160 7 $44,900 $38.71 $44,000 $37.93
Total Listings Avg Avg Avg Avg Avg
6 45 $34,516 $29 $32,400 $28

Residential/Farm Summary Statistics

High Low Average Median
LP: $95,000 $25,900 $43,666 $37,900
SP: $44,000 $21,760 $32,400 $35,000

2

Don’t post like that is you want answer.

How much is it worth now and after repairs? How much are the repairs?

Take the after repair value and take 65% of then subtract the amount it would cost for repairs, the amount left over is your offer.

This is rough though.

Look at it like this: An investor wants to pay 65-70% of the value of the house.

You as a wholesaler want 10% of the equity that the investor gets at closing.

If you make a guy 40k, he should not have a problem giving you 4k, if he does there are many people who will not.

3

The house needs no repair. I guess what I am saying is there is a big difference in the sold houses and the houses that are on the market. How do I pick an ARV?

4

  1. Not if the sales date is close the houes are comparable.

  2. I just hooked up with a realtor. He will pull comps and tell me what the ARV is for $25, for $75 pull comps, go take pics , measure sq footage, tell me what needs replacing, and tell me the ARV.