How can I make this deal work

[Renee Harris]

I got a call back from distressed seller. After doing research here is what I found.

She bought foreclosed property in Feb of THIS year. house had fire damage, she tore it down. Something happened, no wants out.

So now she is willing to sell the land. EXCELLENT NEIGHBORHOOD, the land is in-between two nice houses. 6200ft lot, old damaged house was 2100 sf it was a 3/2.comps in the area with a house on the land are from $850,000 - $1,4000.000 (this house is much bigger with a pool)

Here's why she is so motivated.

owes $718, 000 in hard money

owes $89,000 back taxes from 2016 to present

has two HERO liens on the property.

How could I make this work? A build in this area would probably cost about $350,000 - $400,000.

I was trying to wholesale it. But, was thinking maybe I could offer to JV with her.

I need suggestions and thoughts

Thanks

[Nick C.]

Yikes these numbers are awful. She owes 718k + 89k + hero loans? Then you've got to pay for a new build 350 - 400k. How long do new builds take in LA? Here in Florida 6 months would be fantastic, my guess is it takes longer there. After you factor in interest for the hard money, plus the other loans, holding costs, closing costs, and realtor fees if she breaks even it would be a miracle. Don't get dragged into this mess...