Wholesaling
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 13 years ago,
Beach front property....Should I touch it???
I got a call from a lady who filled out a form on my website. She's located in my area but she wants to sell her property in NC on a beach. This house is a block away from the beach in a desirable area (from what people are telling me). After talking to her she told me that she recently just had a brain stroke and she really wants to get her life together and she needs the money.
Deep down inside I would feel bad wholesaling this property to make a profit, I know that I would be helping this lady out but it just doesn't feel right. But here are the numbers, the ARV on two recently sold properties one on the beach 275k and one away from the beach 225k these are all within 90 days. She told me that the house was recently renovated and that it has a tenant in the down stairs apt renting it out for $676 month.
I threw out a cash offer at her for 100k and she accepted it but we haven't filled out the contract yet. My question is, what would you guys do in this situation?