Can a deal be made?

[Donny Trana]

Bed/bath: 3/2

Garage: No

Year built: 1974

Purchase date: Oct 2003 for $120,000

sqft: 2,264

Zestimate: $107,506

Tax Assessed value: $103,600

Repairs: Yes (rough estimate: $4,000)

Seller owes: $86,000

Seller PITI: $934

Seller PI: $701

Payment current: No (2 months behind - $1,868 + late fees)

Liens: No

The seller has recently received a medical diagnosis, has lost their job, and moved out of the property. The seller's main objective now is to find a way to get out of the property without foreclosing.

I'm not a wholesaler and have never done a wholesale deal. However, this lead came to me through a friend that knows about my interest in REI.

My objective here is not really to see what's in it for me, simply to try to analyze this (as a real world example) and find out if there's anyway the seller can work with an investor/wholesaler to reach a deal that'd be better than foreclosing.

What do you guys think?

[Brian Erlich]

First you need to determine the after rehab value. The zestimate and tax assessed value can vary from market value a great deal. Look at what comparable homes in the neighborhood sold for. That should help you understand what the ARV may be.