Less than 30 days to try and help a vet in preforeclosure!
Hey BP,
I'm a newbie and need some help with a wholesale deal. Owner is in pre foreclosure, auction date is set Dec. 12th. Owner purchased home in 2014 and currently has it rented out to a tenet who lost their job. The bank is asking $119k to payoff or pay past due balance of $5k. The ARV for the area is $135k-145k. The house itself isn't in terrible condition, just a few cosmetic updates. The owner is in a tough situation, he's a military veteran and he's going through cancer treatments, needless to say I would love to help him out but I need some ideas. There isn't enough equity to wholesale or flip. Rental rates for the area are around $1k. If anyone has any suggestions I'm all ears! Thank you!