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Updated over 6 years ago on . Most recent reply

User Stats

33
Posts
2
Votes
Shaeida M.
  • Homeowner
  • Lawrenceville, GA
2
Votes |
33
Posts

HELP!!! Is this a deal or a flop??

Shaeida M.
  • Homeowner
  • Lawrenceville, GA
Posted

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.    

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