Is this a deal question

4 Replies

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

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.

thanks for the input guys it needs 20000 in repairs. So I'm saying no deal I needed him at 75000 but he's not budging off of 85000 at least not yet he say someone offered 92000 but I find that hard to believe.