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Updated about 17 years ago on . Most recent reply

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Paula Styles
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8
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Newbie needs advice on how to handle this deal...

Paula Styles
Posted

Not sure how to handle this situation… I was contacted by a fellow investor who negotiates short sales with banks wanting to know if I would like to do the following deal:

SFH
Price to me: $159K
Repairs: $30K
ARV: $250K

I would like to wholesale the deal, but the other investor is handling the short sale and from what I understand, banks will not let you assign short sales. I am currently unemployed and can’t do the deal myself, but would like to pass it on to someone who can. I know someone who may be interested in this deal and am willing to introduce the two investors in the hope that someone might do the same for me in the future. Is this how I should handle this situation? Another option might be to ask the person that I would like to pass the deal to if they would like to be a private investor for me on the deal.

Any and all advice is greatly appreciated.

Thanks,
DedicatedLearner

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