Hello All… I Have a question for the experienced REI members…
I have found a deal from a realtor in my office ( im a realtor too ) she has gotten under contract a property which is vacant and facing foreclosure… she is telling me the mortgage loan is assumable…
How can i creatively get this deal and wholesale or retail… and make some money ?
I dont want to be responsible for the mortgage or for a real estate commission…
What might i be able to work out on home, mortgage, and with agent…?
The house is coming in @ 200K 60- 90 day sale
& 30 Day sale would possibly be 190K…
She owes 165K…
What questions must i ask ?
What can I do with this deal ?
with or without sticking my neck on the line…
I figure the mortgage to be with taxes and insurance about the same as it would rent for 1350 per mo…
What kinda offer can i structure ?
I was thinking wholesale or maybe L/O, is this correct…?
Any detailed info would be greatly appreciated… !! BIGTIME !!
I must move fast on this one… as the date is set for like 2 weeks…
How can i stop foreclosure process and make something outta this deal… ?
Shortsale … maybe…?
Which ways do you all reccommend… please respond ASAP !!
Mohegan