Ep. #624 - WHEN TOTAL COST IS EQUAL/GREATER THAN 70% 📍 Real Estate Wholesale

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By OLA Tux Abitogun and OLA Tux Abitogun | Business | Entrepreneurship | Real Estate | Digital Mark. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

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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?” ENJOY THE VIDEO!

BLOG POST - https://myempirepro.com/blog/

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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WEBSITE myEmpirePRO :|: http://myEmpirePRO.com

282 episodes