I purchased the Instant Cash to Wholesaling Houses! I put this message on the messageboard yesterday and today I do not see it. Anyway, I need assistance in understanding the Property Offer Worksheet. Please review below and tell me if my understanding is correct.

1. RRV = The amount the house can be sold at after repairs. Say in this example it is 150,000

2. % of RRV your buyers will pay for property in inclusive of repairs. Let's say that he will only pay 60%

3. Closing Cost your buyer will pay. You stated 1% of RRV. In this example it will be $1500

4. Minus the repair estimate = Let's say 20,000

5. Minus "Murphy's Law"= In this example, it would be 3%(as quoted in book) of the RRV (150,000)

6. Minus your profit = You stated 5-10% of RRV. Let's say 15,000

7. Wholesale Offer= RRV * % of RRV buyer will pay
In this example it is 150,000 * 60 = 90,000
MINUS

Closing Cost = 1500
Repair Estimate = 20,000
Murphy's Law = 4500
Your profit = 15,000

WHOLESALE OFFER = 49,000

IS THIS WHOLESALE OFFER THE OFFER I WILL BE PRESENTING TO THE SELLER/OWNER OF THE PROPERTY?

PLEASE HELP ME UNDERSTAND!!!!!!!!!!!!!!!!!!!