Click Here To Watch The Webinar Video
Search REIClub Website
Site Navigation
Investor Information
Home
Monthly Update
Real Estate Articles
Real Estate Videos
Real Estate Success Stories
Real Estate Blog
Discussion Forums
Free Investing Books, Audios
Real Estate Books
Investing Glossary
Investing Abbreviations
Real Estate Products
No Risk Guarantee
Best Sellers
All Investing Products
Real Estate Courses
Real Estate Audios
Real Estate Ebooks
Real Estate Books
Real Estate Seminars
Real Estate Games
Special Offers
Investor Resources
Hard Money Lenders
Real Estate Clubs
Proof of Funds Letter
Business Tools
Cashflow 101 Clubs
Tax Appraisal Districts
State Property Codes
State Foreclosure Laws
Discussion Forums
Beginners, Carlton Sheets
Bird Dogs, Wholesaling
Foreclosures, Short Sales
Sub2, Lease Options
Rehabbing, Landlording
Financing, Hard Money
Asset Protection, Legal
Commercial, Mobile Homes
Real Estate Marketing
Random Ramblings
Site Information
About Us
Advertise on REIClub
Contact REIClub
Link to REIClub
REIClub Facebook
REIClub Twitter
REIClub YouTube
REIClub Testimonials
Cash Profit System,
No Cash, No Experience
Click Here Now!
--------------------------
REO Investing Experts
Reveal Their Secrets
Click Here Now!
Welcome,
Guest
. Please
login
or
register
.
Did you miss your
activation email?
February 11, 2012, 01:49:58 PM
Free Monthly Update
Subscribe today and get
four free bonus gifts!
Name:
Email:
Click Here to Register for the Discussion Forums
Real Estate Investing Forums
|
Real Estate Investing
|
Bird Dogs, Wholesaling, Flipping Properties Forum
(Moderators:
$Cash$
,
Bluemoon06
,
kdhastedt
,
Mdhaas
,
motivatedceo
) | Topic:
setting a wholesale price
« previous
next »
Pages:
[
1
]
Tweet
Author
Topic: setting a wholesale price (Read 574 times)
chrisho55
Member
Offline
Posts: 7
setting a wholesale price
«
on:
February 23, 2009, 08:14:31 AM »
I am not sure what kind of price I can offer someone. I am looking at a house that still has a $79k mortgage. The comps are 90k. The house does not need any work. The seller wants 75k. Is there any room to make any wholesale money on this house.
chris
Report to moderator
Logged
Mr Investor
Member
Offline
Posts: 348
Re: setting a wholesale price
«
Reply #1 on:
February 23, 2009, 12:22:56 PM »
You need to use the MAO offer which is 70% of the ARV minus repair costs minus your fee.
The percentage though is dependent on market conditions. If the market is not so good in your area you need to reduce the % down.
Report to moderator
Logged
ericmedem
Member
Offline
Posts: 864
Re: setting a wholesale price
«
Reply #2 on:
February 24, 2009, 12:04:05 PM »
What ever you don't base your offer on OLD Comps....
In many markets comps are not comps any more, even comps that are 6 months old.
You need to look at current market competition then take into account any substantial changes in your real estate market.
Then buy below 70% of CURRENT market prices
I hope this helps
Report to moderator
Logged
http://www.InvestorsLunch.com
Where I'll Flat Out Give You Your Wholesaling Contracts, and This 107 Minute Wholesaling Video.
jjweidman
Member
Offline
Posts: 16
Re: setting a wholesale price
«
Reply #3 on:
February 25, 2009, 01:46:40 PM »
I have not used 70% for over a year. Eric an Mr. Investor are right. You have to use accurate comps. Know the neighborhood. Better yet, know your buyers. They will tell you what their price point is.
I've found that my offers are generally falling between 25-35% of the ARV (average ARV between $85-150,000). The property owners will some time have a bad reaction, but not nearly as bad as you will get if you can't close the deal.
The worst thing the homeowner will say is no.
Report to moderator
Logged
Joshua Weidman
WeSellHomes2Fix.com
We Don't Sell Properties. Our Numbers Do.
chrisho55
Member
Offline
Posts: 7
Re: setting a wholesale price
«
Reply #4 on:
February 25, 2009, 04:14:01 PM »
Thanks everyone for the information. Now I have a much better idea of what I have to do.
Report to moderator
Logged
Pages:
[
1
]
Tweet
Real Estate Investing Forums
|
Real Estate Investing
|
Bird Dogs, Wholesaling, Flipping Properties Forum
(Moderators:
$Cash$
,
Bluemoon06
,
kdhastedt
,
Mdhaas
,
motivatedceo
) | Topic:
setting a wholesale price
« previous
next »
Jump to:
Please select a destination:
-----------------------------
Real Estate Investing
-----------------------------
=> Carlton Sheets, Beginners, Courses, Gurus, General Forum
=> Bird Dogs, Wholesaling, Flipping Properties Forum
=> Foreclosures, Short Sales, Tax Foreclosures, Tax Liens Forum
=> Sub2, Owner Finance, Options, Lease Options Forum
=> Rehabbing, Landlording Forum
=> Financing, Hard Money Lenders, Credit, Qualifying
=> Asset Protection, Legal and Contract Issues, Income Taxes, 1031 Exchanges
=> Commercial, Mobile Homes, Self Storage, Notes, Land Forum
=> Marketing Forum
=> Random Ramblings
-----------------------------
Investor Networking
-----------------------------
=> Network With Other Investors
1 Hour
1 Day
1 Week
1 Month
Forever
Login with username, password and session length
Powered by SMF 1.1.8
|
SMF © 2006-2012, Simple Machines LLC
Loading...
Anti-Spam Policy
|
Compensation Disclosure
|
DMCA Notice
|
Earnings Disclaimer
|
External Links Policy
|
Privacy Policy
|
Terms And Conditions
|
View Cart
©2002-2012 All Rights Reserved. REIClub.com