Distressed Property / Wholesaling
Hello,
Im new to the wholsaling thing and sent out mailers a few months ago, and then stopped... and someone just recently contacted me about selling their property, they told me they owe about 4,000 on it (mortgage) should I leave this one alone due to the mortgage or I should be okay to move forward- the seller only wants 4,000 for the property to pay off the mortgage and i would say the ARV is 27k - 30 k its not in a good area if the landlord capttured decent tenants it would cashflow (not sure about repairs just yet) but its obvious work needs done so what would you do?- what could i suggest to the seller?... but... the area is not good .... just seeking advice -thank you for your time -
P.S. if the property where to close what would happen at closing in regards to the mortgage - thanks #newbienat