Even if you get a great deal that is 20% below market, appraisers will typically be anchored by the last sale price and you may be stuck not being able to pull out as much cash as you need to pay off the HELOC.

Wishing you the best on that first deal!

Hey Tim,Sounds like your lender is underwriting this as a multifamily deal instead of two separate single-family townhomes, which is probably why they’re pushing for duplex comps.

Ask the manager to explain their process for dealing with maintenance, late rent, evictions, turnover, etc.

I would more trust a mentor who was part-time, spending maybe 10% of their time mentoring and the other 90% doing deals.

Like everything else, you have to find the deal that makes financial sense.

If a seller refinanced a house at around 220k and has about 120k left in mortgage, but the house also appreciated to 450k, how do I structure a subto/seller finance deal?

I’m about to tell you about a deal that could have easily fallen apart, but instead turned into a $200k profit after a lengthy eviction process.

Having said that, I think 1-2 wholesale deals a month while working a full-time job would be ideal to start and ramp up as I get more experience.

Under IRS Publication 523 for 2023 dated February 2024, I qualify as "Service, Intelligence and Peace Corp Personnel" and for "qualified extended duty" (page 4& 5 - https://www.irs.gov/pub/irs-pdf/p523.pdf).