How to go about this?
If anyone can help,
I know someone that owns a property, it's not for sale but there is no tenant in the property. There haven't been a tenant for about a 1 to 1 1/2. They still have the property in their name and I guess they are still paying the mortgage on it also. It was built in 1989 it's in a good neighborhood in MD. I say it's probably worth around 300-350K.
I'm new to the RE game so I would like some insight on how I can purchase the property on good terms. I really want the property for myself. I know that what I'm trying to have the mortgage at i will not be able to get but I'm trying to get the mortgage payment at 1000-1500 a month. And also my credit situation is not that good right now. Not bad but not that good.
I know this person very well but I just want to know how I should go about approaching them from a investors stand point.