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Updated over 6 years ago on . Most recent reply

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Jamel Scott
  • Columbia, SC
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Is this a deal question

Jamel Scott
  • Columbia, SC
Posted

Deal or no deal I have a potential deal on a house (155,000) seller wants (85000 ) because he owes 4000 in taxes. I'm asking does the deal make sense I want 10,000 for my assignment fee

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Brian Pulaski
  • Flipper/Rehabber
  • Montgomery, NY
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Brian Pulaski
  • Flipper/Rehabber
  • Montgomery, NY
Replied

I can't offer help regarding whether you can wholesale a house with back taxes owed... That is where i would start to research.

No one can tell you if this is a deal without a LOT more info. Basically you are selling your contract for $99,000 ($85k + $4k + $10k). The ARV you have guessed at $155k. How much work is needed, $10k, $20k, $50k? What kind of closing costs do you pay in your area? What kind of holding costs, taxes, etc? These are things you need to know before you lock down a property that isn't a deal and you can't sell. I would also make certain someone not paying their taxes is paying their utilities, because that could also add up if they aren't.

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