Why cash buyers are ghosting your assignment deals right now (A breakdown of a fake vs. real SOW)
As an active flipper, I probably delete 90% of the wholesale texts I get. Why? Because the rehab estimate says "Needs $15k in light TLC," but the photos clearly show a sagging roof and a 1980s electrical panel.
If you want to assign deals for $10k+ fees in this market, you have to hand buyers numbers they actually trust.
I am tired of bad estimates and want to help out.
Here is a real-world example of a deal I analyzed yesterday in Detroit, MI:
- Wholesaler's Estimate: $20,000
- Actual Line-Item Estimate: $42,500
- Where they missed: The roof was at the end of its life ($7,500), the kitchen needed a full gut, not just paint ($9,000), and the plumbing was galvanized ($4,000).
I have some free time today—if anyone is sitting on a dead deal and wants to know what a flipper's actual line-item rehab estimate would be, drop a property link in the comments below. I will run it through my underwriting model and reply right here in the thread with the breakdown so you can see the math.