Hello DG family. This is my first post so it may not be put together well so please be gentle. I had a call come through my 800 number and the lady said that she hasn't really caught up on her mortgage throughout the last year and is looking to sale. She has just built a deck and says that her home is in great condition. She says that she got her home for $188K and after looking at the most recent assessment it is worth only $172K, and her monthly payments are roughly $1200. Her husband is due to be deployed soon and she is motivated. Our market here in VA is starting to turn around a bit, but is definitely still at bottom. My question is, with no equity should I jump into this first deal as a rental, because it doesn't fit any of my buyers criteria for a wholesale? Or should I just let this one go (which I really don't even know what to say if that's the case)? All help is greatly appreciated.
Hello DG family. This is my first post so it may not be put together well so please be gentle. I had a call come through my 800 number and the lady said that she hasn't really caught up on her mortgage throughout the last year and is looking to sale. She has just built a deck and says that her home is in great condition. She says that she got her home for $188K and after looking at the most recent assessment it is worth only $172K, and her monthly payments are roughly $1200. Her husband is due to be deployed soon and she is motivated. Our market here in VA is starting to turn around a bit, but is definitely still at bottom. My question is, with no equity should I jump into this first deal as a rental, because it doesn't fit any of my buyers criteria for a wholesale? Or should I just let this one go (which I really don't even know what to say if that's the case)? All help is greatly appreciated.