Larry Goins Blog - Hard Money Loans - Transactional Funding & POF - Filthy Riches Funding
Submit a Wholesale Property - Buy a Wholesale or Filthy Riches Property - Buy or Sell A Note

Submit a wholesale property:
How to Sell a Wholesale Property to Investors Rehab

If you have a property that you would like to wholesale to us, we require the following:
 
1. Comps for the after repair value (From a subject to repair appraisal)
2. Rehab list from a professional with price of repairs.
3. Our cost (what amount are you selling to us for)
4. Copy of original contract, if being assigned to us.
5. Potential rent if house is a rental.
6. Recent pictures, both internal and external.
 
Remember that we are wholesalers. This means that we have to sell at 70% of the ARV. That 70% ARV needs to include the cost of the house, rehab cost, our wholesale profit, and points and closing cost. Anything below that offer will be your profit.

 
Example:
This is an example of where our numbers need to be. Depending on the area and other due diligence, we may have to go below 70%.



ARV                                                                                        $100,000
70%                                    $70,000
Less Rehab                                -$20,000
Less Taxes, Insurance and Attorneys Fees            -$2,000
Less points for hard money (5% on 70K)                -$3,500
Less our wholesale profit                                  -approximately 10% 0f ARV
We will buy at a cost of                                     $34,500
 
                                                                                      
You would need to negotiate a lower price for your profit.

Please do not submit a property until you have already negotiated the required discount. 

We only purchase properties from wholesalers who own the Ultimate Buying Machine course.