How to help potential seller who owes more than house is worth
Hey all. I am new to investing. Had a conversation with a guy who has two mortgages totaling 77k (50 on the first, 27 on the second). The ARV is 69.5K in current market. Estimated repairs 12k. He says he is currently renting out the home pretty consistently. He says he just wants to sale for more than what he owes. I told him that I would look into other possible solutions but that he might be better off continuing to rent out the unit at this time. Thanks for any insight that you can offer.