I’m new to wholesaling and have been studying this subject pretty much all over REIClub, and watched Frank Chen’s youtube videos on wholesaling. There are some things that I haven’t been able to figure out as to what types of other properties can be wholesaled. I know that distressed/vacant properties and distressed foreclosures are prime for wholesaling, but what about good properties in middle class neighborhoods that are ‘for sale by owner’, and require no type of serious rehab or fix-ups that a distressed house would need?
I know a real estate company that works as investors and with investors. They buy houses with cash, and also list other acquired properties at retail through their company. They also buy contracts (including assignment of contracts). If I find a house that is for sale by owner in a good middle-class neighborhood and the owner is willing to negotiate the price down from let’s say $150,000, would I be able to wholesale that house to the company, or any other buyer I know that is looking for income property? If so, what formula would I use when coming up with an asking price for this particular type of property in a good middle-class neighborhood?
It’s been very hard for me to find an investor friendly real estate agent or realtor to run comps and allow me to attempt to make my own deals, even though I offered to pay them a fee for the information they give. Are there any bank websites or other websites that I can use to gain access to the actual MLS that will give me all the information I need rather than just average sales comps that Zillow and other freebie sites only give? I would like to come up with a precise and accurate selling price for all my deals without figuring out, estimating and comparing several freebie comps that don’t even give square footages on most properties, or price per square footage in a certain neighborhood.
Thanks!