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Updated over 6 years ago,
HELP!!! Is this a deal or a flop??
Hello BP family,
I ran into a situation that may be a deal, but I'm not sure. I need your opinion on what my options are?
Subject: 4br /2ba townhome in Lauderdale Lakes Fl. The estimated market value is $120,000, minor repairs need.
Owner: She owes $90,000 on the mortgage, she rents it out for $1600 and has a cash flow of $445.
Situation: The owner is going through personal issues and no longer wants the property. She said she would get rid of the property for $10,000-$15,000. She needs that money to move out of state and start over again.
Question and/or advice: Is this a wholesaling, buy and hold or flipping opportunity or is this a flop? Thank you in advance.