Posted by Michael on December 14, 2000 at 22:55:07:
Hello. I am not an expert but have done what your trying to do.
Will the seller (investor) take monthly payments, interest only payments? From what you stated, he wants a cash sale? If so, it looks like you COULD make a profit. $44,000.00 looks good according to the numbers you posted.
What have you done to make sure you can wholesale the deal? Have you run an ad looking for investor/buyers? What type of area is the home located in? I am not trying to rehash words, but, is it in an area that people who can qualify for loans want to live? Would you live there? Would you live there with those repairs being done?
A good ad that I use is one certain people will recognize “Handyman Special, cheap, cash, your name and number”.
I congratulate you on your efforts. Best wishes.