Creative ideas Investment property..

Our neighbor has just went through a divorce and is struggling with her bills and taxes in the rears… She has moved out personally and now has two tenants renting form her in this duplex… She said she’s gonna see if she can try to make it for a few months… We share a dumpster and she can afford even her share… Im looking for creative ideas to approach her with to obtain her property… appraisal value 206,000.00 / assesment valued 144,100.00. Looks like origionally paid 110,000.00 . What ideas can be used to get this property out from under her… Lease Option ? Straight sale? I dont actually know this would be my 1st property… and i know there is other ways with notes and stuff. i.e. Carelton sheets… any suggestions greatly appreciated… What should i give for a duplex appraised at 206K ?

also how do i fugure out what she actually owes and what her current payments are ? Thanks …

You could try asking her what the payments are. You should know what the rents are. If it will cash flow you can consider subject to or L/O. The problem is not what you should give her but what she thinks she has to have. If she loses it she gets nothing but a bad credit report. If you can make it cash flow why shouldn’t you get most if not all the reward.

In most places ownership will bring in more than rents. Wrap it if need to cash flow.

In Texas with high property taxes ,mortgage payments will be around 1% monthly of the mortgage amount. Lower taxes will make it a little less. If you have access to the courthouse the Deed of trust or mortgage will be recorded. It would be easier to ask.

Thank you for your reply, Bud Branstetter… Im not sure i understand what u mean by subject to … ? Or wrap it if need to cash flow… ? So i need to find out what her mortgage is for and what her rents are getting… to see if there is or could be a positive cash flow… Where should I shoot for seeing 206K appriasal value and 144K Assesment value… I will need to make her an offer… I will pobably be competing somewhat with her Ex-husband who wants to buy it from her but she said she dosent want to sell to him… What price range should i aim for… ?
I would like to get a L/O but must show her the benefits of doing so… since she already has it rented it must be appealing to her… Maybe option fee may coax her…