Glenn & Amber, real estate experts & flippers, want to purchase the house BUT is it priced too high? This episode will show you how to negotiate with a wholesaler.
Glenn and Amber discuss how they can clean up the property and make it look good for a low price. They ultimately need to answer, “Will they make money off this deal based on the wholesaler’s asking price?”
The wholesaler was originally asking $65k and is now down to $60k. However, Glenn and Amber have done this many times. They know this property is priced too high for the market. After all, the property is on Glenn and Amber’s home turf!
The only way they see the house making them money is if they can buy it for $40k, add $30k in renovations, and then refinance the property for $100k. Will the wholesaler agree to a lower price?
Tip from Glenn and Amber: if you don’t know what your exit strategy is for a property, always ask yourself, “Will this property cash flow as a long-term rental?”
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Learn more about Glenn & Amber here!