can this be a wholesale deal
Hi,
I am just started with wholesale. I have some free time lately and are driving around for possible properties. I come across this owner who owns this rental property(he also own other properties of similar situation). he is already late for payment(3-4 months) and he is behind on last year's property tax. the market value of the house wil be around 130000, and mortgage balance is 120000. currently getting about 1100/month for rent. he is not able to refinance and is very motivated to sell, all he wants is get out of this.
it appears to me there is not much to be done except a shortsale/foreclose. but I want post it on BP and see what options will you consider?