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Updated about 5 years ago,
Wholesale Foreclosure (Subject too)
I have a deal the home FMV is 138k and the ARV is 220k. The payoff amount of the loan is 119k but to reinstate the loan is 13k with attorney fees, insurance etc. How I traditional do wholesale deals I would factor in the payoff of the home if the loan is less than the home using the wholesale 70% rule. Can I subject too this deal to a end buyer? They would be buying the home for 13k plus my assignment fee and they would make the monthly payments of $700 a month until they are done doing a fix and flip?