Updated over 11 years ago on . Most recent reply
Creative Solutions/Options
Greetings all,
This weekend, I'm at an expired list property; owner occupied. After talking to the owner in person, I find out they still owe $165k on the mortgage. The property is in pretty bad condition - roughly $65000 in repairs. ARV is around $275k.
The owner is motivated to move due to health reasons. But firm at $185k (?)
They mentioned a need to have an extra $20K to get in another home.
Is their a deal here? They were open to lease option, but I don't know if this scenerio lends itself to a lease option opportunity.
Am I missing something?