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Joe Schaak
  • Investor
  • Stillwater, MN
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Any Way to Make This Work?

Joe Schaak
  • Investor
  • Stillwater, MN
Posted May 5 2016, 08:44

Okay, real estate gurus. I have an owner of a 3/1 down and 2/1 up duplex (he lives in it) that wants to move down to Florida. He's asking $220k and arrived at that number this way : $110k current mortgage, $100k down on FL home, and $10k moving expenses. Monthly rental income would be $2150. 

As a straight cash purchase, it doesn't work. Is there any creative way to approach this that may help? Looking for ideas or just straight "no's"

Thanks!

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