Real Estate Wholesalers Atlanta
I have created this special page for Atlanta area real estate wholesalers who are looking to add me to their buyer’s list. Here is a step by step guide to help you understand my criteria and buying requirements.
Wholesale Priced Property – The Numbers
I will buy property that are wholesale deals! Here are the numbers that I’m looking for in a wholesale deal:
65% of ARV minus repair costs.
That’s it! Calculate the wholesale price using this formula. It’s simple. First you must establish the After Repair Value (ARV) of the property. This is the price the property will sell for to an end buyer who will pay full retail price. Multiple this number by 65% then subtract the cost of making the repairs and this is the price I will pay for your deal.
Wholesale Deal Example
Here is an example of a deal using the 65% of ARV minus repair costs formula.
After Repair Value – ARV
Let’s say a single family house that is in disrepair would fetch an owner occupant buyer at a full retail price of $300,000 after it is fully renovated. This is the After Repair Value (again, this is called the ARV) of the property.
First multiply the ARV by 65%: $300,000 X 65% = $195,000.
Repair Costs / Rehab Costs / Renovation Costs
The next step is to add up the repair costs to rehab and fully renovate the property. The goal is change the property from it’s present condition into a fully renovated home which will be required in order to achieve the full retail price.
In this example let’s say the property is outdated and needs a total rehab. This will include a new kitchen, new bathrooms, new flooring, and painting. There are also some repairs to be made, such as replacing broken windows, two doors, and a few pieces of siding on the exterior. There is also some landscaping that needs to be added to improve the curb appeal of the house. Let’s say in this example that the cost of doing all the repairs and renovations totals $40,000.
Now subtract the cost of repairs from the number calculated by multiplying the ARV by 65%: $195,000 – $40,000 = $155,000.
The Calculated Wholesale Price
This is the price I will pay for this wholesale deal: $155,000.
Wholesale Deals / Assignment of Contract vs. Bird Dogging
When you contact me to present your wholesale deal to me, please have the property under contract. If I like your deal, I will pay you a fee to assign the purchase and sale contract to me.
If you do not have the property under contract yourself when you tell me about your deal, please be prepared to explain to me what your role is in the transaction. Please do not tell me you have the property under contract when in fact you do not have it under contract.
If you are acting as a go-between or bird dog for another investor who has it under contract, please tell me right away. I will be glad to work with you if it’s a deal that interests me. But I cannot effectively do a transaction with you if you tell me you have it under contract and then I find out later you do not have it under contract. Doing this wastes time and complicates what should otherwise be a smooth transaction.
Wholesale Property Details
Please provide me with the property details when you present a wholesale deal to me. These details must include the following:
- Property Address
- Property Type (single family, townhouse, condo, apt building, etc.)
- Year Built
- Square Footage
- Number of Bedrooms and Bathrooms
- Sale Price (this should include your assignment fee)
- Estimated Cost of Repairs with Scope of Work (detailed repair list)
Additionally, other property details which may be helpful for me include the following if you have this information:
- Rental Rate
- Annual Property Tax Amount
- Lot Size
- Foundation Type (slab, crawl space, basement, etc.)
- Parking (garage, carport, driveway)
Wholesale Deal Locations in Atlanta (and Northern Virginia)
Here are the locations I will buy wholesale deals and the types of deals I’m looking for in various locations.
Atlanta Area Rental Property Wholesale Deals
Any property that would work as a buy and hold cash flowing rental with a 12% cap rate. I prefer single family houses outside the 285 perimeter but will consider all types of property in any location on a case by case basis.
I also have a group of investors I work with who will buy cash flowing rentals, so if I’m not interested, I may have another buyer for your deal.
Atlanta Real Estate Rehab Wholesale Deals
These are the areas that I will buy a wholesale rehab deal. These are properties that usually need extensive renovations and repairs which gives me the opportunity to create value and then resell for profit.
The areas I’m particularly interested in to do a rehab deal are the following locations in North Metro Atlanta:
Cherokee County – Canton, Woodstock, Holly Springs, Ball Ground, Waleska
Cobb County – Marietta, Kennesaw, Smyrna
North Fulton County – Alpharetta, Roswell, Sandy Springs, Atlanta
Paulding County – Dallas, Hiram
Dekalb County – Dunwoody, Decatur
Pickens County – Jasper
Northern Virginia Rehab Deals
Yes, I will do deals in Northern Virginia. I started investing in real estate in the Washington, DC area and I have cash buyer investors on my team who will buy great wholesale deals fast in Northern Virginia.
Real Estate Wholesalers Make Money
If you are new to wholesaling real estate, I know you are attracted to the business because of the potential to make good money by finding and wholesaling great deals.
I have collected assignment of contract fees over the years on many deals and I am not hesitant to pay an assignment fee to a wholesaler who has a great deal for me.
My hope is that you will be a successful wholesaler, so please contact me right away when you have a wholesale deal that matches my buying criteria outlined above.
When you have a great deal that matches my criteria, we will make money together!