Is this deal too personal

[Josue Caliz]

Hello BP, as you may or may not know I am a new investor with little experience looking to make my bones this year in real estate investment. I've been reading everything i can get my hands on;

books, forums, Q&A, and listening to several real estate podcasts.

I recently received a scholarship with a local real estate mentor, who I know will propel me to the next level, and help build the foundation I need to be successful. 

I've written out my goal of 10 deals this year and have been sharing it with everyone I know. In doing so I was solicited by my mother in law for advice and help. She owns a multi family property for over 20 years and due to life, she finds herself with her head under water and no longer has interest in being a landlord. I'm currently renting out one of the units.  It is an excellent property with prime location but it is a fixer upper. To the right investor it would be an amazing buy n hold.

I personally am not interested in this as a buy n hold and I currently do not posses the knowledge and resources to fix n flip it. In my research I've found that wholesaling this property would be a viable option in this situation. 

My question is this, being that this acquisition can't simply be business due to the personal relationship I have with the seller, should I feel guilty in capitalizing on her situation even tho I will be helping her stay out of a foreclosure. At this point a short sale is her only option and I don't intend on getting rich on this one deal I am more interested in the experience and it was her who came to me for help. I explained to her my plan and the potential outcome and she seems ok with it but I don't want this deal to be thrown back in my face later in our future.  

What would you do BP?? 

[Wayne Brooks]

@Josue Caliz         Pay Attention To This!  

A short sale is Not a good target for a wholesale.  If you try to get in the middle of this, you likely will just succeed in causing it to go to a foreclosure auction.

A lender will require the property to be listed with an agent in the local MLS, for probably a minimum of 5 days, before they will look at an offer and your MIL's short sale package. They will want as close to market value as they can get, not the discounted price you need, to sell at a discount to an investor, and still make a wholesale fee. Short sales have to be done a certain way, depending on who the Servicer, and the actual note investor, is. There are just too many things about a short sale you don't know.

Anything other than finding a good experienced short sale agent for your MIL would be a disservice to her.