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Wholesaling
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Updated almost 10 years ago on . Most recent reply

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Acker B.
  • Real Estate Investor
  • Killeen, TX
0
Votes |
3
Posts

section 2 or wholesale

Acker B.
  • Real Estate Investor
  • Killeen, TX
Posted

A motivated seller owes 50,000$ on a morgage. in addition, she have a 5,000$ lien an the property. She lives out of town and rented the place to friends of the family in which they are destroying the place. the comps are 61,000$ from the lowest and 81,000$ the highest. I did an average of 6 numbers from different websites and it came down to 66,000$. I offer was 26,000$ and she rejected due to her existing note. I mentioned section 2, but she doesn't have the money to pay the lien. Is this deal worth raising my offer? Can I do a section 2 without the seller paying the lien? 

Most Popular Reply

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402
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96
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Russell Ponce
  • Investor
  • Santa Rosa, CA
96
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402
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Russell Ponce
  • Investor
  • Santa Rosa, CA
Replied

I'm not familiar with section 2 but there's not enough equity for a wholesale deal 

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