Marana, AZ · Member since 2017 · 64 posts · 18 votes
Hey guys so here's the situation
About 2 years back I sold a home security system to this older couple
Well the other week I swing by their house to find out the Husband has past away
I put out there that if they wanted to sell the house call me I'm interested and I could help them out
I just got off the phone with daughter she called me asking if I was still interested
I said yes I would be but I asked how much is left on the mortgage
She told me about 80k
And that there was a reverse mortgage on the home
She said she'll call me back to confirm the price and when they are ready to move forward (within the month)
I looked on Zillow and the estimated worth was 200k
How can I make this work?
Can I make this happen even with a reverse mortgage ?
Cause there's a lot of potential profit here
Thanks guys
Investor · Bentonville, AR · Member since 2014 · 759 posts · 379 votes
9y
Bryan Templin What are your goals for this house?
Are you wanting to really purchase or wholesale? If purchasing, then a reverse mortgage shouldn't matter or change anything to you, just close with a title company like normal.