High Equity Lead Options
Hello BP
I am in contact with a potential seller that has under 20% Equity in her property. I have not seen the property yet. But from our conversation it seems like the only thing it needs is new flooring and touch up the paint.
The numbers
ARV $256,000
MORTGAGE $204,000
PAYMENTS $1500
PROJECTED RENT $1700
How would I go about offering a lease option with no money down. Also her and her family live in the property.
Would this be able to work as a wholesale deal because it doesn't need a lot of work?
This seems like a pretty good property for a sandwich lease option. But I am not sure how to go about doing it.