How to wholesales deals with existing mortgages??

[Mario Harris]

Hi,

I am a newbie wholesaler and have came across a few leads where the sellers have existing mortgages. Consequently, on all the houses I would offer less than what they owe. Any ways to get around this when negotiating?? Also, any resources to learn how to do creative deals wholesaling? 

Any advice would be great! 

[Elizabeth Clyde]

Hi, we recently sold a property in a hot market and didn't list on MLS. We worked with two investor partners who brought 90k to the table each. The mortgage got paid off at closing and we walked away with the difference. The key is having good investors. You will hear the term: JV which means Joint Venture and that is usually a great recipe