need help trying to figure out how I can help this seller..?

need help trying to figure out how I can help this seller..?

Wholesaler · Redding, CA · Member since 2015 · 218 posts · 27 votes

How's it going everyone!

I have a seller whos 24 who needs to sell two of his inherited properties that are in foreclosure and wants out

1 property is a 2/2 1100sqft house backs up to a creek

is a fixer-upper and needs a driveway down to the house

Default around $130k 

repairs $20-$30k

ARV around $160-$170k

area: C

rents in area $1000-$1200

2nd property is a 2/2 1000sqft with 1.6 acres

is also a fixer-upper

owner passed two years ago and has plans that are approved for I guess 24 lots to be split up to develop on in the back. Neighbors also would be interested in selling part of their land as well to develop on. Also has a company ready to go do come clear and flatten the property.

default amount $130k 

repairs $25-$30k

ARV $200-$205k

Area : C+

rents in area $1000-$1200

trying to think of a solution for him or what strategy would work best!

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  • Wholesaler · Redding, CA · Member since 2015 · 218 posts · 27 votes
    6y

    @Paul Fagot

  • Don KonipolBusiness Member
    Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
    6y

    @Paul Fagot

    There’s little or no equity in the property. There’s nothing to “save”

    Private Mortgage Financing Partners, LLC
  • Investor · Marin County California · Member since 2018 · 1k+ posts · 2k+ votes
    6y

    I would talk to local developers about property number 2 as the potential development opportunity here is what may have sufficient value to entice someone into a potential deal.    

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