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Updated about 2 years ago on . Most recent reply

Hector Perez's profile image
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Hector Perez
  • Flipper/Rehabber
  • from Houston, TX
  • Member since Nov 5, 2012
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Hector Perez's profile image
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Hector Perez
  • Flipper/Rehabber
  • from Houston, TX
  • Member since Nov 5, 2012
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Hector Perez
  • Flipper/Rehabber
  • Houston, TX
75
Votes |
176
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Wholesaling

How to Wholesale a $1,000,000 dollar House

Hector Perez
  • Flipper/Rehabber
  • Houston, TX
Posted

Need help

Just got a call today from a seller that NEEDS to sale his house before goes into foreclosure for what he owns on the mortgage ~$250,000.

The house is not finished and needs about $100,000 in repairs. The ARV is $1,000,000.

How to wholesale this house?

  • Hector Perez
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Account Closed
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  • from Central Valley, California
  • Member since Mar 9, 2012
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Account Closed
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  • from Central Valley, California
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Account Closed
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  • Central Valley, CA
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Account Closed
  • Investor
  • Central Valley, CA
Replied
Originally posted by Hector Perez:
Need help
Just got a call today from a seller that NEEDS to sale his house before goes into foreclosure for what he owns on the mortgage ~$250,000.

The house is not finished and needs about $100,000 in repairs. The ARV is $1,000,000.

How to wholesale this house?

Is this a trick question? Unless the house is in a market where nothing is moving, there are lenders and buyers that can close on a $1M house selling for $250K tomorrow. What's the complication? Get it under contract and get the contract assigned/sold.

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