Ok, I have an old friend that her mom’s house is getting ready to go into foreclosure.
Sale Date is the end of August. Ok, The payoff amount is 49, 000. The comps in the
area are between 65,000 to 70,000. The seller just wants to get rid of the house.
And save her credit. How should I structure this deal?. I’m a wholesaler doing a favor
for a friend. Should I try to short sale it, or should I just sell it subject to?
How should I do this deal EXPERTS!!!
Someone HELP please!!!
I wouldn’t consider myself an expert, but if I am reading this correct you should have any problem helping your friend out. Network with your buyers/investors and wholesale the property with 20,000.00 equity or put a rent to own buyer in the property for a quick fix with current payments and cash them out in the future for a win win situation. If there are back payments due have your rent to own buyer put that amount down as there down payment to get it current. Good luck!
The best advise I could give you is to get educated. Dont go by what you learn in a message board because it may or may not be correct and you will end up paying the prices if someone gives you bad advise.