Wholesaling

[Account Closed]

I have a motivated seller who owes 220k in mortgage and is willing to take a hit and sell for 175k. Im sure I could talk him down.  Is this a potential deal?  What else do i need to do?

[Tom S.]

@Account Closed 

$220k ARV (you said it's equal to what he owes) * 70% less 40k repairs = $114k is your maximum offer before your fee. If he owes $220k he'd have to bring $100k to the table at closing in order for you to get this at a good price.

Hope that helps,

- Tom