I found a motivated seller who wants to sell their property and is willing to sign a contract, but the problem is that the seller has close to no equity on his property.
Is it still possible to wholesale a property if the owner has no equity in it?
There is no value for an investor.
If the underlining loan has good terms and the seller is willing to walk there are investors that would be willing to take over the sellers payments. There are some risk in this to the seller in the event the end buyer is not credible and does not make their payments on time it could hurt the seller’s credit.
I have bought properties like this before, but I would not be involved in wholesaling them to someone else. I had another investor that brought me a deal like this before and I purchased it and paid the Whole Seller 5K for the contract assignment.
If you’re only end goal is to sell the property to a cash buyer then there is no value to the end buyer if they had to get a new loan and pay full retail.
Sounds like a Sub2 not a wholesale. Lookup Pace Morby Facebook group and find a Squad member to team up with.
like everyone else said.....could be subject to opportunity
I guess it would depend - Does the property have an astronomically HUGE upside in it at the price?
Is there enough margin between seller price and buyer price to make a commission for you?