“subject To” deal: is this even worth it?
hello everyone, for some months now wholesaling has been my thing. Recently I came across a deal that in my opinion I can’t wholesale. The owner is VERY motivated. He doesn’t want anything for the house he just wants to get rid of it. So possibly a Subject To deal can be made? I would like to know everyone’s opinion. Is this even a deal? Here are some numbers:
ARV: 140k
Duplex (first floor one bedroom second floor 2 bedroom)
Mortgage owed: 44k
Lien: 20k (from a car)
Averages rent in area: 700-850
Repairs: estimated 15-20k
Also, Is it possible for the owner to negotiate for the lien to get reduced?
I want to Subject To the deal and rent it out or possibly lease to purchase it. But there has been some doubts because of the debt is owed.
Any type of advice is appreciated!