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Updated over 17 years ago,
Found a property to wholesale. Is this a good deal?
Hey guys:)
I wanted to say thanks again for the welcome to biggerpockets:)
And well, i do have a few questions about wholesaling properties.
Well, as you know, i'm prettty new here, and was wondering if you guys could provide some advice. Well, if found a property. It states in the info that it is a notice of trustees sale and also that they are under a notice of delinquent assesment. Also the claimant is a homeowners association and the amount is roughly only $3000 dollars.
1. So my question is, would this be something to look into?
2. And if i wanted to wholesale the property to a rehabber, and i first secured a contract with the homeowners, will the rehabber i assign the contract to assume the mortage on the house and all other expenses that go along with the house with it if any?
Well, i thought that this would be a good deal (to wholesale) because the foreclosure price is quite low. And i thought the person/rehabber that took over this house would be able to make a deal out of it because of the low $3000 that was involved to get the house. So maybe it's a good deal for a rehabber?
Well, please advice:) I'm new to this, and need some help from experienced experts.
Thanks again fellas:)
I appreciate your help:)
:D
Frenzy