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Updated about 7 years ago,

User Stats

4
Posts
4
Votes
Milissa Kernahan
  • Philadelphia, PA
4
Votes |
4
Posts

“Subject To” deal: is this even worth it?

Milissa Kernahan
  • Philadelphia, PA
Posted

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!