Deal Makers, Could You Help, Please?
FMV - 125K
Repairs - 8k
Owes 3 payments of 750/month (2250+late fees + others)
Has a 1st - 82k
2nd - 25k (HELOC)
Owner wants 5k?
The comps are at 125-129k
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I am planning to short the 2nd ;
My justification :.82 x 125=102.5
102.5-15k (repairs) = 87.5k
so offer the 2nd 87.5 - 82 = 5.5k
and pay off the 1st.
Is this a deal?
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What other way can this deal structures????
Thanks in advance
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