Wholesaling this house for $5,000 *LIVE*

Wholesaling this house for $5,000 *LIVE* If I get this a 70k, my buyer's gonna pay 75. 1400 square feet in Detroit, MI 1,440 sqft Detroit, Michigan. So we just wanna check the rent in the area really quickly. Your Rent Zestimate® $1,488/mo Rent Zestimate® range: $1,414 - $1,562 Woah. It's crazy high. It's 1400 a month. Perfect. But if I get it at 70,000, my buyer pays 75. I need to get him a 30% cash on cash return. It's 15,000 down, 7% interest. Oh my goodness. You're bringing in 511 per month. Multiply that by 12. 6132 per year. Now divide by the total entry cost. About 20 racks, 20,000 is what I would take to buy this. 6132 + 20000 0.3066 And you're looking at a 30% cash on cash. Now, I make a call at night time in Detroit because I just CAN'T leave that alone! *calling realtor* Realtor: Hello? I was calling you about your listing on Bull Burn Street. Did you have a moment? Go ahead. I got pre approved on the property, but my lender had a question. 255 days on Zillow He wanted to know about the days on market here to. Cause it looks like it's been there for like 250 days. So my lender, he gave me an offer like I'm pre approved, I'm ready to buy. But he just wanted to ask about if there's been any issues with other buyers given the days on market. Issues like what? Well I don't know. I mean, it's a beautiful house. So 254 Days on market. I mean, maybe you guys went under a contract and they found something in the inspection? No, there was no inspection done. The most people that were trying to buy were contractors. I mean - were investors who were trying to reassign the deal. So they couldn't find a buyer. So that's why it hasn't closed. Well, let me send you my pre approval. Do you think we can present $70,000 to your client on this? Is this for you or for who? You sound like somebody who called me before that they're trying to find. They're trying to live in there first before they buy it. *no it's not me lol* Is that you or not? So I have two houses in Detroit. You can put a non assignment clause in my contract. You can say fully non assignable. I don't need an assignment clause. And then I'm gonna go ahead and present a $70,000 dollar offer. Do you think your seller would listen to something like that? So I mean, with $70,000, they're not gonna entertain any repairs... No repairs. No repairs. Are there any issues in the property? No, not that I know of. Okay, we just need to inspect the property, my lender does, and then we can get this thing done really quickly. Now, is this... What kind of loan is this? This is a DSCR Loan. How long is closing? Closing is probably 25-30 days. I can submit $1,000 non refundable EMD. After my contractor walks the property. Yeah, I can present it as long as you are serious. I'm gonna send you my portfolio and prove the funds with the offer, and then you'll present it for me? Yeah. Thank you so much. I appreciate your time. So it just needs to not be in bad condition. That's really the only thing that could throw off this deal.