MIGHT HAVE MY FIRST WHOLESALE DEAL !!!!

[Cierra Seay]

Hey BP community,

Today I potentially have stumbled upon my first wholesale deal I'm just trying to figure out if it's worth going after. 2 Bedroom home in a decent area of Detroit, owner inherited the home and did some work to the inside but just hasn't been able to keep up with the expenses. Total back taxes $6,853 but only $5,941 is needed to get out of foreclosure status. Because the home is in Detroit I'm thinking this may be a hard deal to move but the home is in a decent area. I'm honestly not trying to make a ton of money but I do want the seller to walk away with something. What do you think Michigan investors ?

[Ned Carey]

@Cierra Seay  I have bought properties with close to $50k in back taxes. Sometimes the back taxes can be a motivating factor as they can loose the house over the taxes. The tax man comes first and there is no way for them to sell the house without the taxes being paid.

That depends on the seller and how motivated they are. Most sellers are unrealistic about what their house is worth. They are also unrealistic about the cost of selling and how much  they should pocket when all is done.

That is why the best deals come from motivated sellers. If they are not motivated you are not likely to get a great deal. The best you can do is make an offer that makes sense to you. Your concern should NOT be what you think they will accept, only what works for you.