So here's the situation what do I need to do to make this work?

So here's the situation what do I need to do to make this work?

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
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  • 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.
  • Marana, AZ · Member since 2017 · 64 posts · 18 votes
    9y
    I'm looking to purchase the home and then flip it
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