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Updated almost 2 years ago on . Most recent reply
How to Wholesale a $1,000,000 dollar House
Need help
Just got a call today from a seller that NEEDS to sale his house before goes into foreclosure for what he owns on the mortgage ~$250,000.
The house is not finished and needs about $100,000 in repairs. The ARV is $1,000,000.
How to wholesale this house?
- Hector Perez
Smart Real Estate Investing
Most Popular Reply
Originally posted by Hector Perez:
Need help
Just got a call today from a seller that NEEDS to sale his house before goes into foreclosure for what he owns on the mortgage ~$250,000.
Just got a call today from a seller that NEEDS to sale his house before goes into foreclosure for what he owns on the mortgage ~$250,000.
The house is not finished and needs about $100,000 in repairs. The ARV is $1,000,000.
How to wholesale this house?
Is this a trick question? Unless the house is in a market where nothing is moving, there are lenders and buyers that can close on a $1M house selling for $250K tomorrow. What's the complication? Get it under contract and get the contract assigned/sold.