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Updated almost 15 years ago on . Most recent reply

Ricardo White's profile image
Ricardo White's profile image
Ricardo White
  • Real Estate Investor
  • from Durham, North Carolina
  • Member since May 26, 2010
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User Stats

14
Posts
5
Votes
Ricardo White's profile image
Ricardo White's profile image
Ricardo White
  • Real Estate Investor
  • from Durham, North Carolina
  • Member since May 26, 2010
Connect
Ricardo White
  • Real Estate Investor
  • Durham, NC
5
Votes |
14
Posts
Real Estate Deal Analysis & Advice

IS THIS MY FIRST EVER DEAL?!?

Ricardo White
  • Real Estate Investor
  • Durham, NC
Posted

This is my potential first deal: Owner has a lien on property of 19k (owner financed) Lien Holder never received mortgage payment from buyer. The Lien Holder is my mother (sweet right) so can I wholesale the note on the property and allow the investor/rehabber to foreclose on the grantee? I ran comps came up with 100k ARV the house is basically condemned 1,936 sq feet built in 1925 and has code violations. I have no clue how to come up with rehab cost is this even a deal. The lien amount is for 19k SOMEONE PLEASE HELP ME!!!!?!?!?

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