Should I pursue this? If so, as a wholesaler, how should I pursue? Property is about 12 yrs old. Good condition. Homeowner is out of work, 8k behind. 4 bed, 3 bath, 3000 sq ft, 2 car. Loan bal is 110k. Paid $140k. Tax $170k (our city does that). Don't have ARV yet. I have a buyer that may do this as an assumable loan, but how do we manage the $8k balance?.
I wish I had about $45k to invest to flip a house for $65k. I can get the house for $32k + $10k in repairs. ARV is around $75k. I just don't have any money. I am waiting for my buyers to confirm their desire, but I would do it in heartbeat if I had the money.
Should I pursue this? If so, as a wholesaler, how should I pursue? Property is about 12 yrs old. Good condition. Homeowner is out of work, 8k behind. 4 bed, 3 bath, 3000 sq ft, 2 car. Loan bal is 110k. Paid $140k. Tax $170k (our city does that). Don't have ARV yet. I have a buyer that may do this as an assumable loan, but how do we manage the $8k balance?.
I wish I had about $45k to invest to flip a house for $65k. I can get the house for $32k + $10k in repairs. ARV is around $75k. I just don't have any money. I am waiting for my buyers to confirm their desire, but I would do it in heartbeat if I had the money.