Posted by Brent_IL on March 11, 2002 at 24:07:17:
I flip the financing so you could say I wholesale the terms. Regardless of the profit potential, my personal max is ~81% of FMV if I have any post-purchase responsibility. 100% less 10% discount for quick sale less 10% of selling price for closing costs = 81%. Just in case I have to bail.
This formula doesn’t apply to rehab/repair-type flips.
What is a average percent? - Posted by Bill G.
Posted by Bill G. on March 10, 2002 at 12:10:49:
Hello CRE folks,
If I am doing wholesale of single family homes or the likes. What is each of yours ideal of a minimum below market percent you buy for, not what you like to flip for but what is the min. or average percent, ie do you only buy property at 80% of value before you wholesale or 50%, 90%?
Just trying to get an ideal of what would be a good deal.
Thank you for your time,
Bill G. Lv, Nv.