Instant success with yellow letter campaigne.... but now I need help.

[Nicholas Renshaw]

Hi

first and foremost, I just want to say that I am new to the real estate investing business, but would appreciate any help anyone could give.

I recently began a yellow letter campaign last week, sending out 100 letters last Friday. Monday at 5:57 pm I I get a call.... I was not expecting it to happen that fast! but it felt great. The lady I spoke with told me a little about her property. How much she owed and when she bought the property. I had asked her why she was selling, but it turns out she still lives in the property and wants to continue living there but wants someone to buy the property because she is behind on the mortgage. 

At the fear of sounding like a stupid question to most, can I make this into a deal and into profit? From the vague description, does this have potential to be a deal? If so, what kind of deal could I make of this? Wholesale flip to a buy and hold investor?

sorry for the long windedness but I'm very excited to have such a quick response.

thanks in advance. 

[Devan Mcclish]

Yes you can make money here. You need to determine what the ARV is. Is she upside down? Is there equity? If there is enough, you can flip it to another investor. You can buy it for yourself. If there isn't that much equity you can buy it subject 2 the existing mortgage staying in place. If she's upside down you can sub 2 or short sale it. There's a lot you can do but there's other questions you have to answer before you figure out an exit strategy