"Low equity" deals?

I’ve read read through about 30 pages of this birddog forum and have learned so much in just a few days. There’s one thing I’m not clear on.

In wholesaling and/or birddogging when someone on here says “there isn’t enough equity in the deal” are you referring to the equity that the seller has right now in the house, or the amount of profit that you make if you assigned/sold it to a rehabber? This part is confusing me. Thanks!

I think their reffering more to the current equity of the home. The whole idea is to get a prop with tons of equity in it and negotiate to buy for less than what its worth. That way you assume all the equity and you can either hold sell or wholesale. :bobble