Deal issues
- Im having issues with a deal and I'm not sure if it's worth it or not . Have a motivated seller whom has a reverse mortgage on the house for about 289,000 .Athens sellers asking around 200,000 not to mention The home needs a bit of work and the foundation is damaged to the point where one part of the house feels like it's on a slop . From what I've read reverse mortgages are tricky and for investors not profitable more times than not. My assocoate feels like we can negotiate with the lenders down but normally with reverse mortgages they want 85 to 95 % of what the house is appraisal at idk what to think but I have time to make a decision . Need advice on how to go about this .