QUESTION ⁉️ “I’m in negotiations with a property with ARV between $185K & 190K.
For what I’ve been told, it needs carpet throughout and everything else is good to go.
They’ve only been in the property for years but what I don’t understand is she bought the property for $151K but owes 1st mortgage 116k and 30k to HUD.
She’s fine with just paying off what’s owed. It may be a couple of thousand dollars for moving cost.
But my thing is 70% of $185K is $129,500; so she’s already over where I need to be not including any repair costs or assignment fees.
How do I make this deal work?”
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ABOUT YOUR HOST ::::|
Ola "Tux" Abitogun is the Creator of myEmpirePRO and author of Smart Real Estate Wholesaling. He became a FULL TIME entrepreneur in October 2006.
He is a computer engineer and an engineering management graduate from New Jersey Institute of Technology; (NJIT) class of 2004/5. He was born in Dallas Texas and raised in Nigeria by his Nigerian parents. He considers himself a proud Nigerian American.
Today, he is a marketing addict, trainer, marketing and business consultant, real estate investor and all around serial entrepreneur. Most importantly, he is husband and a father. The professional work he is mostly proud of is personally helping 1,000+ entrepreneurs around the world reach greater heights in their careers.
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