i found a deal the house is 5/3 and its in a nice neighborhood. he wats 180k for it and i went on zillow the house is worth about 260k and it sounds like great deal the thing is i dont have much money so i want to wholesale it and closing cost will be about 4-6k and i dont have that money.

Some lenders are pretty competative but they are few and far between so shop around.John Corey

. $200,000 might get you a shack in a crime infested neighborhood or a tiny condo.

Beachbum - Are you trying to set up a PM shop?

However, a roof over their head is the minimum that buyers are looking for.If you've got a less than desireable house in a similar neighborhood then you don't want to be a long distance landlord.One other thing.

Dal1,As an appraiser I have seen many houses that have been improved beyond what the neighborhood calls for and it is unfortunate..When an appraiser adjusts the comparables to the subject to arrive at a market value your improvements are adjusted to what the market iswilling to pay for those improvements.

Maybe the neighborhood isnt great or maybe building is old.

There was one in my neighborhood whhere the owner did a deed in leu and it sat from September until March then sold in 10 days.

Great senior only neighborhood, the worst house on the block.

I do recommend people find a big bookstore that has a coffee shop.