Potential First Deal

[Michael Rajnherc]

Hey Everyone, I’ve been putting in the work and generating leads. I saw a house today that I think could potentially be my first wholesale deal but I need some help. If you guys wouldn’t mind taking a look at some numbers and sharing any advice. Also the margin may be thin but if any local South Jersey Wholesalers would be interested in partnering I would do all the work in exchange for some guidance. The deal: Guy owes 60,000 on a twin that is in good rental condition and could rent for between 1100-1300. It’s in a B-/B area and should be rented pretty easily. He bought it for 90k 5 years ago. We’ve developed a good relationship and he’s flexible to sell to me. Even mentioned he’d take seller financing. I’m just not sure how to approach structuring the deal here. If you want Any more details just ask! Thanks in advance, Mike