Posted by Bob-Tx on May 20, 1999 at 17:04:42:
I recomend staying under 65% of fmv…that means 65% including all repairs. Example:
fmv - $100k
rehab - $10
rehabber will pay $55k
You must pay less.
wholesaling - Posted by d.j. macgown
Posted by d.j. macgown on May 20, 1999 at 12:03:15:
I want to start wholesaling or “flipping” to generate some cash. I am new and have poor credit and no money to invest,so this seems to be the best place to start.
For both myself and the rehabber to make a fair profit,what is the minimum percentage after repair value below market value price I should concentrate on? I hope that made sense…example… I find a property that needs some repairs and is selling fo 80% below market value(after repairs) Its a fair deal. however if the property was selling for 81% below market value(the best you could negotiate) It wouldn’t be enough for the rehabber to make a fair profit and would be difficult to flip. Please help me out here. Yhank you, david