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Updated over 15 years ago,

User Stats

361
Posts
75
Votes
Joseph Ziolkowski
  • Inspector
  • Alsip, IL
75
Votes |
361
Posts

Property has little equity...deal or no deal?

Joseph Ziolkowski
  • Inspector
  • Alsip, IL
Posted

Hi all! I am about to make an offer on a 4-plex 2 hours away from me. Though the owner is motivated, and the place seems to be in very good shape (minus a new roof), what the guy owes is probably about $30,000 more than I'm likely to offer. Now to clarify that, I'm a wholesaler, and I'm figuring on wholesaling it to a cash buyer. Is there any way to make this a deal? Would this maybe be an "assuming payments" type situation? Sorry if it sounds like a newb question, but I haven't come across this yet.
Thanks for any and all ideas! :mrgreen:

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