That’s a really good question 😊 Honestly, you usually don’t know exactly how much they spent on the rehab, and that’s totally okay. That info isn’t really public most of the time. What matters more is that you’re running your numbers correctly using the formula, not trying to guess their budget. When you’re looking at comps, just focus on: • Is it fully renovated and similar to yours? • How updated does it look (basic vs high-end)? • What’s it selling for compared to others nearby? Then you estimate your repair costs based on your deal, plug everything into the formula, and that’s what tells you if it’s a deal or not 👍 The formula is what keeps you safe, not trying to figure out what someone else spent. And also keep in mind the buyer at the end of the day is going to run their own numbers and do their own due diligence anyway. That’s normal. But that’s exactly why using the formula to estimate repairs and build in enough margin is so important, so your deal still makes sense for them. Also go back and watch the lesson in your course under Deal Analysis Module → ARV, Repairs & Costs + Comps I break it down super simple in there so it clicks a lot more once you see it step by step 😊

@Shawna Beamer 😃

@Cecilia Cherenfant 🦾

Good question, this actually comes up a lot 😊 If a property is under contract, that means someone already has an agreement in place to buy it. When they say they’re accepting backup offers, it just means the deal hasn’t closed yet and there’s still a chance it could fall through, so they’re lining up another buyer just in case. You technically could try to work it, but honestly it’s not the best use of your time, especially in the beginning, because you don’t control the deal and you’re basically waiting on someone else’s deal to fail. But remember having your buyers list already to go is important in wholesaling. Because they can say the contract is set to close next week. (example) Here’s how I’d break it down depending on the situation 👇 If it’s under contract but directly with the seller with no agent involved • You’re still dealing straight with the owner which is a plus • You can build rapport and position yourself as the backup • If the first deal falls through, you could step in quickly 💰 • But you’re still in a waiting position and don’t have control If it’s under contract with a real estate agent involved • The agent controls everything and communication • There’s usually more competition, especially if it’s on the MLS • Less flexibility on price and terms • Harder to actually win as a backup buyer If it’s under contract with another wholesaler • You’re basically trying to be their backup buyer • You have no control over the deal itself • They’re already marketing it to their buyers list • Could turn into a JV if it makes sense 🤝 Overall, the best thing to focus on is going direct to sellers where the property is not under contract yet. That’s where you have full control, better margins, and way more opportunity to actually lock up deals 🔥

I have a Youtube I did on this 🙂 heres the link https://www.youtube.com/watch?v=xSTvFBEKk9k&list=PL_CT00Bvc5COilMtbwrHXDZgO6OegDsTy