Neighbors Might Want to Walk Away from House
If you can structure deals with little to no down payment and with out loans then.. I NEED YOUR HELP!
My neighbor across the street owns two homes. One here in Palmdale and one in LA. He expressed his interest in selling the home to go live in la and that he is willing to sell the home for what he bought it for a couple years back. The home seems to be in great shape since he was never really there and is worth around 330k. He bought it for 285k and just wants to see what he can get. I would jump all over this but I just recently bought a home under my name and have a loan. I used most of my cash getting this new home. He’s a good person and seems interested in working with me.
Here is what I need help with. How do I structure a deal with this man that is beneficial to both of us? I cannot buy his house through the traditional means with a loan and down payment. I do have some money to help entice him for a sellers finance or something along those lines. I’ve never done a deal like that but I am willing to try! Maybe a “subject to” deal with some money up front would work? What other options might I have? Maybe a lease that gives him a monthly cash flow from me to own some rights to the home, rent it out, give him his payment and pocket some cash flow on top?
Any advice or input in appreciated!! My dm are open!