Is This Illegal Flipping?
We are looking to get a property under contract in Cali. for 80% of FMV. What is the maximum value we can wholesale it for. It is in good shape except for the grass and landscape and only 3 years old.
smetime I would like someone to show me an illegal flip I flip all the time and nothing you are suggesting is other than a straitforward deal.
That said, 80% of value is only the beginning of a deal. A deal starts at 80% FMV - repair costs.
THis deal looks thin I suspect unless you can assign the contract to an end buyer.
I am thinking that you have not figured in repair costs, holding costs, closing fees or agent fees to sell.
Run all these numbers and then post here so we really know what the deal looks like...
[addsig]