In this episode, Annie and I dive into a fresh wholesale deal that hit our inbox just an hour before recording. We walk you through our full analysis—looking at property details, running comps, identifying red flags, and evaluating whether this is a flip, a rental, or a pass. If you’ve ever been on a wholesaler’s list or considered buying one of their deals, this is the kind of real-world walkthrough you don’t want to miss.

We share our honest reactions in real time, from spotting odd features on the property to questioning the reliability of the comps provided. Plus, we open up about how we balance multiple exit strategies and what numbers really make a deal worth pursuing.

Episode Timeline:

[0:00] - Breaking down how we received the wholesale deal

[0:54] - Initial impressions: price, size, and property highlights

[1:27] - Manufactured home or not? Determining property type

[2:32] - Unusual exterior features and needed repairs

[3:16] - First-time seeing a mysterious gutter box

[3:56] - Cape Cod layout: pros and cons for flipping or renting

[4:24] - Floor plan challenges and converted porch space

[4:58] - Garage and shed analysis: what adds value and what doesn’t

[5:22] - Bathroom setup and importance of a bathtub in flips

[6:01] - Exterior condition: paint, siding, and ceiling tiles

[6:23] - Updated panel but potential for outdated wiring

[6:47] - Initial discussion on flip vs. rental strategy

[7:22] - Comps overview and projected ARV

[8:18] - Verifying wholesaler comps—and why most didn’t check out

[10:06] - School district mismatch: why it matters

[12:30] - Running our own comps and setting expectations

[14:24] - Market activity snapshot: competition and pricing

[17:35] - Still can’t find the property on Google Maps

[21:16] - Adjusting values for acreage differences

[22:19] - Final ARV range and rehab budget

[22:56] - Deal verdict and next steps

5 Key Takeaways:

1. Always verify comps independently – Don’t assume the numbers sent by wholesalers are accurate. Run your own comparables through MLS or reliable sources.

2. Know your exit strategies – Go into every deal with at least two options, whether it’s a flip, a rental, or even wholesaling it yourself.

3. Small details matter – Odd features like unidentifiable structures or outdated floor plans can impact a buyer’s perception and resale value.

4. ARV is not one-size-fits-all – Comps must match in style, size, age, and school district to be valid indicators of potential resale price.

5. Location verification is crucial – If you can’t find the property or verify its location, it’s a huge red flag. Always confirm before proceeding.

If you found this episode helpful, make sure to rate, review, and follow The Real Estate Ride. Share it with a friend or colleague who’s diving into wholesaling or just wants to get better at deal analysis.