Updated about 6 years ago on . Most recent reply
How do i do this deal
Okay so a guy is listing for 165k and the area goes for around 230k,
He owes 80k, and just wants out of the house.
How would I go about structuring this deal??
Any Advice would help. Thank you!
Most Popular Reply
This all depends on what you want to do with it. If you plan to make it a rental, see if he will settle for just the 80k and split the profits you make with him. This way you can get into the deal for little money down and it's a win win for both of you.
If he wants out and wants cash, see if he will carry the note for a short while and owner finance so you can flip it. Then pay him off out of the flip proceeds.
If he doesn't want to carry a note, look into wholesaling it and taking the arbitrage.
This is kind of like showing an artist an empty canvas and asking what to put on it. it really depends on what you want, what will work in your area/situation, and so many other variables.
If he wants out and wants cash, see if he will carry the note for a short while and owner finance so you can flip it. Then pay him off out of the flip proceeds.
If he doesn't want to carry a note, look into wholesaling it and taking the arbitrage.
This is kind of like showing an artist an empty canvas and asking what to put on it. it really depends on what you want, what will work in your area/situation, and so many other variables.