is 15% of the equity in a deal to much for wholesale fee?
So I think the title says it all, is 15% of the equity created in a wholesale deal a good amount to ask for. That's after some estimated repair cost as well.
I'm just curious, i'm trying to find a good amount to charge for the wholesaling fee.
For an example let's say I get a property under contract for $60,000 and it needs $10,000 in a quick estimate for repairs. That would leave $30,000 in equity if the house was worth $100,000. My fee would be $4,500.
Also should I use what the house could sell for quickly or the average time on market to figure possible equity?
So I think the title says it all, is 15% of the equity created in a wholesale deal a good amount to ask for. That's after some estimated repair cost as well.
I'm just curious, i'm trying to find a good amount to charge for the wholesaling fee.
For an example let's say I get a property under contract for $60,000 and it needs $10,000 in a quick estimate for repairs. That would leave $30,000 in equity if the house was worth $100,000. My fee would be $4,500.
Also should I use what the house could sell for quickly or the average time on market to figure possible equity?
I'm looking forward to your replies,
Shane