To deal, or not to deal....

[James Lusk]

Hey there, We have a prospective deal in our pipeline that is seemingly good. However, there are some variables that we are unsure about when deciding how to move forward in locking this property up. We are newer to the game and would love some advice and input. So here it goes; The deets: 3 bed/2bath, 2 car garage 1790 sq ft, built 2001 ARV roughly 155k-170k Rehab cost: ~10k - Mostly just cosmetic. Paint, some flooring, countertops and possibly sink/bath fixtures Seller is a recent divorcée. House has been vacant for 2 months. Things holding seller up from listing is the minor work, and cleaning up their ex's stuff that was left behind (that ex claims to want to sell with no sense of urgency, being as that they are not contributing to payments). Seller is basically paying for an expensive storage unit. Seller owes 95k or so, and sellers ex's name is on the title. We left negotiations with 125k on the table, but I hardly think seller will take that, just letting them marinate on that. I suspect 135-140ish is more the realm I could go under contract with. Now FYI, I am focusing on wholesaling as a business, and actually got this lead as seller was the banker who helped me setup my business account. I don't think there is enough room in there for a wholesale deal. At the moment my wife and I don't really have 20% to finance it ourselves. That is where you guys come in; does anyone have any creative advice on how we ought to handle this deal moving forward?