Homeowner called me today and said he is 3 months behind on his mortgage. Property vacant. here are the numbers
3/2/2 1300 sqft
1st 62k I think
2nd 15k
needs painting and carpet.
Comps from 90k-95k
I was going to try and do a workout but the lender wants 5k to bring the property up to date. There is a woman that wants to rent the house and pay 6 months in advance 4k. Is it possible for short sale? Going to look at it friday. Was going to wholesale it. Either double close or put the property in a LLC to whole sale the LLC to my rehab investor. Pls let me know all documents needed. I think I know but want to make sure