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Updated about 7 years ago,
“Subject To” deal: is this even worth it?
hello everyone, for some months now wholesaling has been my thing. Recently I came across a deal that in my opinion I can’t wholesale. The owner is VERY motivated. He doesn’t want anything for the house he just wants to get rid of it. So possibly a Subject To deal can be made? I would like to know everyone’s opinion. Is this even a deal? Here are some numbers:
ARV: 140k
Duplex (first floor one bedroom second floor 2 bedroom)
Mortgage owed: 44k
Lien: 20k (from a car)
Averages rent in area: 700-850
Repairs: estimated 15-20k
Also, Is it possible for the owner to negotiate for the lien to get reduced?
Any type of advice is appreciated!