Reverse Mortgage in Wholesaling

[Merari Alfaro]

Hey guys!

I have a client I've been building rapport with, she's 79, has a pressure point of wanting to sell her home, late April, if possible.

The comps for her home are 500K, with the latest one being sold in 2015(!). The home requires quite a lot of work and remodeling, I haven't been able to calculate ARV just yet but I can kind of say around $20-30K. Her asking price is $700,000 but she said she would be okay with $450K. The catch is that her home has reverse mortgage, that explains why no realtor has really taken her up on the home. At this point, I want to be able to help her out, does anyone have experience with this? Is it a dud, or could it be a possible deal?