Hey Dymond here reporting with a possible deal in the works.
Four Family Condo= Up to $400,000 FMV
Owner paid=$305,000 1 year+ months ago
Owner wants $315,000(first option) if I can close in 7-10 days.
Owner second option will be to take what he owes on it.
Owner defaulted amount =$20,000
Owner has 2 mortgages on the property totaling $2,400 per month.
Interest Payments = 8% & 12.87%
Owner on some kinda’ repayment plan.
Property taxes are $3,000
Condo Fees = $500.
Condo needs 2 water heaters and painted interior.
Want to assign my contract what should I offer this guy.
Owner quotes “I just want to leave with a little bit of money in my pocket”