HELP?!!!

[Shana Simms]

Hi, I am new to wholesaling and currently have a deal prospect that has a property it's about 1.4 acres and $60,000 is left on the loan. The property was In a fire so there's pretty much just the lot left. I ran comps and homes in the area values at about $275,000-$323,000. Trying to get some ideas in how I can approach this.

[Joseph Ball]

So, if I understand this, you have a vacant lot, with a pending demolition. What will demolition/demolition permit/disposal cost?

After demolition, what are vacant lots selling for there? Home values are somewhat irrelevant. You don't have a home. You have a vacant lot, with a $60,000 mortgage and a pending demolition, plus actual demolition/demolition permit/disposal costs.

Look up nearby vacant lots, days on market. 

Seat of my pants? I doubt you will find $60,000+++ is a good deal for a vacant lot.

Hope I'm wrong.