Creative Offer
I found a property that I'm very interested in. It's a buy and hold property that is already cash flowing well in a market that's becoming more and more challenging to find positive cash flow properties. The owner wants out of the property as he's upside down and wants to move to Costa Rica for good. Unfortunately, I don't have all of the cash needed for a down payment. My partner will be getting the remainder of the down payment in about a month. I'm trying to figure out a way to get the owner under contract despite lacking a preapproval from a lender and without proof of funds. The owner is not willing to do a subject to mortgage.
Does anyone have any creative suggestions about buying this property?