I am just starting out as a wholesaler. I put an ad on craiglist in my area and I am beginnig to develop a buyers list. I am going to put a contract on 5 houses from a friend of the family who is in desperate need to sell. She started working on these houses but the contractors took her money and ran. She has to move to California in a few months because her husband got a new job. She is behind on the payments but the houses are under assumable loans and they have 10,000 each left on the loans for rehab. One house she is asking for 61,000 and the ARV is 90,000. Do you think this will entice investors so I can assign these properties?
No. Her asking price is 61,000. She has a hard money loan that is assumable, she used some of the money trying to fix it up, but the loan still has 10,000 left on there for rehab.