Best Strategy for this Situation -Transactional funding?

[Valeria Valdes]

Hi everyone,

I have a specific situation that I would like to get your opinion on since I think there could be several ways to go about this. Please excuse me if these are dumb questions as I am fairly new into RE investing world :)

Here it goes: I was speaking to someone at my local gym (while networking) that mentioned he put an offer on a house to live in, but he does not know if it will pass inspection since the roof is significantly damaged (and then some). The property is an REO and was in Auction in January for 281K (unpaid balance). After that, the lender took ownership for 435K. Now, six months later, the lender has listed it for 279K.

My first question is, does the end buyer still need to worry about the unpaid balance back in auction? Or is the listing price what he's working with?

Second, what strategy can I use to help him get the loan since he plans on fixing the roof himself. He has looked into the 203K loan but he would need to go through the credit check, ect ect that a bank requires.

Could I potentially do a wholesale with transactional funding? This way I can put the property under contract, all cash, quick close and then double close with the end buyer?

Sorry for the long post but I hope I explained this correctly. Any help or creative strategy suggestions would be greatly appreciated!

Thanks,

Val