I had a seller call me today and they have a house that is in great shape and they have about $50,000 in equity and all they want is the payoff as they can’t afford the payment.
I was thinking maybe I could do a option on this house and then sell this house quickly by holding a 2nd and either let the seller close and I hold a note or do a simultaneous close. I really just want to make about $10,000 so I would be willing to sell well under market value plus hold the note.
Is this a viable idea in todays market??
Any ideas or help would be greatly appreciated!!