1st Wholesale Deal - Have ?s

[irishgal]

Hi All,

New to investing and to this forum.  Have enjoyed reading all the past posts - they have been very informative.

Here's the deal - what do you think?

4 bedroom townhome being sold for $397,500
ARV:  $479,500
Improvements: Mostly cosmetic - New carpet, paint, appliances:   $15,000

Looking to wholesale the deal - is there enough $$ to take out wholesale fee, and still make it worthwhile for another buyer/investor.

Thanks

[ARamirez]

Well if the numbers are correct there is plenty of money there, but depends if you can find someone to buy a house in that price range. Is that a common price level in your area?

In my are in Texas that house might sit for quite a while jsut cause everything over 200k-250k takes a while to sell. As it is, 3/2 in the 90k-100k range take 3-4mos to sell when listed. Major buyer's market over here.

Best thing would be to start getting alist of investors so you know who to call when ya get a house under contract. Good luck!

[irishgal]

The market here in No. VA is definitely crazy. rising from 12% to 15% in the past year.  Homes are only staying on the market an average of 12 days.  Thanks for the advice.