Hi!
There is a beautiful old house that need a lot of work and has been on the market for more than a year. It is way to expensive for me to buy or else I would think it is a great property to flip.
I am not sure what the mortgage is on the property the agent was wishy washy about it but I do know they bought it at a multi million dollar price just a few years ago and they moved out last year. So, I am guessing it is a great source of stress.
So, two questions:
How can I find out the mortgage info?
Any ideas on structuring a deal? I was thinking of a joint venture. I take over the right to the property, fix it up, sell it then pay off their mortgage. Something to that effect. Any ideas?
Thanks.