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Updated over 5 years ago on . Most recent reply

User Stats

258
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135
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David Nacco
  • Real Estate Agent
  • Chattanooga, TN
135
Votes |
258
Posts

What should I do next?

David Nacco
  • Real Estate Agent
  • Chattanooga, TN
Posted

So I found a house I want to try to wholesale but I have some concerns with it. First of all I found a property I would like to wholesale. The property was purchased in 2012. I could not find the purchase price. The ARV is $260,000. I do not know how much work it needs either yet. However the home is in pre foreclosure which to my understanding makes wholesaling it more difficult. And also the property owner is an 81 year old lady, her husband passed away in 2016. The home was filed for foreclosure August 2018. The owner also owes $19,000 in back taxes. Would this even be worth further pursuing? Also who would I even go about contacting first. I have the foreclosure attorneys phone number and office address and the owners current address and phone number.

Most Popular Reply

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Replied

Newbie investor here please verify all info I'm about to say, and welcome to all feedback but this looks like a subject to deal. You can possibly see if the seller would be open to you catching her up on the 19k in taxes, in exchange you paying the mortgage payments on her behalf. Subject to's are super tricky I recommend maybe finding an experienced creative investor to walk you through this process sounds like a good opportunity to learn a really useful strategy if executed properly.

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