Is this a deal?
Situation: Elderly couple facing foreclosure. Will sell me their property "at cost". Have about 50K in equity. Will be paying me rent (positive cash flow for me). Then when they are comfortable and get their finances back on track will buy property back from me.
Solution: I buy the property. When their comfortable, I'll sell back to them w/ a profit of around 5-10K (I'm a nice guy), plus I'll be making some cash monthly from rents.
Problems: What paperwork do I need? I've got about 2 or so weeks to make this deal. Thinking about H$ to purchase them immediately refi.
Answers: Lemme know what you think!!!!!