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Updated about 5 years ago,
townhouse that may be a good rental
So i have never wholesaled a townhouse. I have only done single family houses.
I have a townhouse that I am trying to wholesale for a coworker. The seller owes 143.000 on the townhouse , He wants to walk away with 20,000 in his pocket, I would like a 3,000 assignment fee. The ARV on the townhouse is 195,000 and the townhouse needs very little work. Only paint in 3 of the rooms and some laminate in the living room is needed. About 2,000 in rehab cost. The property is pretty much move in ready. I think this would be a great rental property but cant find any cash buyers. Are my numbers off ? Any advice on how i should proceed. The seller wants to close by the end of November. Thanks