Wholesalers: Get These 5 Numbers Before You Kill the Lead

Most wholesalers decide whether a deal works using three numbers:

The asking price, repair cost, and ARV.

That may be enough to evaluate a cash assignment-but it isn't enough to uncover a creative-finance opportunity.

Before I decide a lead is dead, I want to know:

1. What type of loan does the seller have?
   FHA, VA, USDA, or conventional?

2. What is the remaining loan balance?

3. What is the interest rate?

4. What is the seller's monthly PITI payment?
   Principal, interest, taxes, and insurance.

5. Is there an HOA fee-and how much is it?

Why do these details matter?

Because I'm not only evaluating the property. I'm underwriting the financing already attached to it.

A seller may owe too much for you to make a traditional cash offer. But if the existing loan has a low interest rate, an affordable payment, and enough room between the monthly expenses and the property's potential income, the lead may still have value.

The purchase price alone doesn't tell you whether a creative deal works.

The financing tells the rest of the story.

So, before marking another lead as "no equity" or "not a deal," collect the loan details and calculate the complete monthly obligation.

Some of the deals you're throwing away may only need to be underwritten differently.

Call or Text me for a "2nd Opinion" at 480-818-6460.

Thanks,
Brandon Simmons

480-818-6460

www.BrandonTheMan.com