Sub 2 Deal - Crazy Californians and Their No Cash Flow Deals
What would you do with this type of deal?
4/2 1200 sqft house in B neighborhood.
ARV - $355,000 - $375,000
Needs $30,000 in repairs as a flip, or $10,000 as a rental. Value with rental repairs done is $310,000 - $320,000
Market rents are $2100 - $2200
Payment incl tax and insurance are $1809.00 Mortgage balance $289,000 fixed 30 yr 4.5% originated in 2013
I can take this deal over for a couple grand.
What would you do with this?
I can wholesale it all day for a small fee or I can maybe partner with someone playing the long game. Loans are a pain to get and this one is ripe for the taking but there isn't much value besides that. Thoughts on this people?