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Updated over 13 years ago on . Most recent reply

User Stats

449
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94
Votes
Mike Nelson
  • Wholesaler
  • Washington, D.C
94
Votes |
449
Posts

How can I make this attractive to a buyer???

Mike Nelson
  • Wholesaler
  • Washington, D.C
Posted

This may get a little complicated so bare with me, the seller filed for bankruptcy last year. He owns a 4unit multifamily in a nice neighborhood, the mortgage is around 2k a month (roughly 360k). The rents can generate 4k a month but the seller needs 45k to come current on the loan. Also, the property is worth around 450k.

The seller would like to JV with an investor that could bring the money to the table in order to bring the loan current so that he can start getting income on the property. I would like to know how can I make money on this deal? If at all possible, thanks in advance.

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