How to approach this Deal.. is it even a deal?

[Harriett Williams]

Hello BP family,

I have a motivated seller who is a landlord. He is looking to sell his property asap because he cannot find good tenants and only has 2 months rent left toward the payment. He owes 115,000 on the property but it is only worth about 136,000. As a wholesaler how should I approach this deal? or should this be something I pass up due to the amount he owes vs how much its worth which doesn't give me or a cash buyer much spread!

[Will Barnard]

Several options, purchase subject to existing mortgage and keep the equity, execute a MLO (master lease option) and generate gross income above and beyond costs for cash flow with the option to purchase if the value increases, purchase cash. All if these options depend on the possibility of cash flow so keep that in mind. It is only a deal if you can make money.