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Updated about 6 years ago,

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7
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Andre Lozada
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7
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question on a real estate deal.

Andre Lozada
Posted

So I have a motivated seller who stays in NC. He owns a home in Pa. The property is in pre foreclosure status. The ARV for the house is $63,000. He owes $20,000 to the mortgage company (which he says can be negotiated) and $5,000 back taxes. He said the house needs no repairs, built in 1980. 3 bed 1.5 bath, 1190 square feet. I offered $6,000 (after all back payments and fees) and he accepted.  So i'll put it up for an investor for $36,700 (my fee, sellers cash, mortgage and taxes) maybe less depending on what the mortgage company agrees on. Is this a good wholesale deal?