Hey BP Family I have recently place my first property under contract ; it’s an pre- foreclosure home .Im fairly new to this industry I’m asking what’s a good way of wholesaling PF property to buyers as is .
Mortgage payment are behind 3k
Buyout is 72k
ARV is 88k
I don’t know where to start an marketing this property .
If you are familiar with pre-foreclosure shoot me an response thanks BP
When you say 'buy out', I'm assuming that you mean the mortgage balance? If so, I'm not sure that you have a deal: Mortgage balance $72K, $3K in arrears. That equals $75K. That spread is only $13K to account for many other things including your profit and the end buyer (investors) profit. For a wholesale deal, it doesn't sound exciting.