Okay…I purchased a lead from one of the REI compainies online. I went to check out the property and ran some comps. ARV was around 73000.00. I called the seller and made an offer for 39000.00. I told the the seller I was going to look around the property and call him back. So I call him back and rengotiate a purchase price of 37500.00
So…
ARV = 71000.00 - 74000.00
Purchase = 37500.00 = 52.8% - 50.6%
repairs 10000.00
I would like to wholesale this for 5000.00. Would I be asking too much not leaving enough for someone to rehab?
Thanks