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Updated over 11 years ago on . Most recent reply

Josh Anderson's profile image
Josh Anderson's profile image
Josh Anderson
  • from Victorville, California
  • Member since Sep 2, 2013
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Josh Anderson's profile image
Josh Anderson's profile image
Josh Anderson
  • from Victorville, California
  • Member since Sep 2, 2013
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Josh Anderson
  • Victorville, CA
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Starting Out

Wholesale Question

Josh Anderson
  • Victorville, CA
Posted

I used the search but I could not find an answer.

Question: If I have a seller that has a house he wants to sell....

The house has a mortgage balance of $200,000 he is paying on.

The seller agrees to sell for $100,000...

I line up a buyer for $125,000...

What happens to the remaining balance of $75,000?

I'm really new and I'm just trying to understand the process.

Thanks.

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Tim G.'s profile image
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Tim G.
  • Rental Property Investor
  • from San Diego, CA
  • Member since Jan 12, 2011
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Tim G.'s profile image
Tim G.'s profile image
Tim G.
  • Rental Property Investor
  • from San Diego, CA
  • Member since Jan 12, 2011
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Tim G.
  • Rental Property Investor
  • San Diego, CA
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Tim G.
  • Rental Property Investor
  • San Diego, CA
Replied

If they equity then yes.

So Josh, what is your goal in real estate? These hypothetical deals don't pay well, how can we help you make some money?

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