Wrap Around Wholesale Deal
Hello All,
I have recently come across a Seller whom is allowing her property to go to Foreclosure, due to the stress. I would love to help this person out; however, I feel this deal is above my knowledge level. Below are the details of the transaction so far.
Mortgage Balance: $122,000
ARV: $185,000
Interest Rate: 2.5%
Monthly Rent: $800
Comparable Rent: $1200
Estimated Repairs: $50,000
According to an experienced investor...Does this seem to fit the mold of a wraparound transaction? Are Wrap Around Transactions only do-able with little to no repair costs? Can this person be helped through the service of an investor?
Thank you for any input!