Updated over 11 years ago on . Most recent reply
Wholesaling With Mortgage
Hi, just recently started educating myself to become a RE Wholesaler. I received my first call from a guy who wants to sell his 2 flat. I scheduled a meeting for tomorrow but i'm nervous. I searched as much as I could about the his property and he has a mortgage with tenants. Im really not sure if this could be a good deal or if i shall walk away. How do I go about turning this into a real deal? What steps do I need to take?
Most Popular Reply
Pnade if the property is really worth 184K after repairs and assuming it needs 10k in repairs I would offer the seller right around 100K for the property. Is the seller distressed? Or is this a seller who is trying to get retail prices for his property? Also, you said its estimated value is 184K, but is that the after repair value or is that the value in its current condition?