OfflineI am new to investing and I am looking to wholesale. I am looking at a few homes that are shortsales and don't require much rehabbing. Do I make aggressive offers like I would with a real rehab house? The offers seem so low.
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Fabienne Johnson
Fabienne,
It’s wise to note that good deals can be created from any type of situation as long as the parties involved are willing to negotiate. Banks are commonly less willing, but that shouldn’t detour you from making offers. Just make sure you are looking for other deals also.
With that said, if you have narrowed your focus down to short sales you with little rehab it’s still important to run your numbers. Clearly if there is not much rehab, you won’t be making much of a deduction for that, however you still have to figure out what your ARV/FMV is and then make the necessary deductions from that number.
The offer amount may seem a little low, but it’s better to be safe than sorry.
Good luck!