I am a new investor trying to get started in the RE Investment business. I have a deal in the works that I want to move on. The problem is that I have no idea on how to structure it to make it work for me and an investor. Here are the details:
- 2 BR 1 BA home
- 1170 sq. ft
- Owes approx. $67k
- Approx. value via comps $58-$65k
- Tax rolls $67k
- No major repairs needed (new paint inside; change door locks; new carpet)
- Owner looking for $3k cash and subject to financing
How can I arrange this deal to make it feasiable for an investor to pick it up from me via an assignment? I want to flip this deal to another investor but I am totally loss as to how I can structure it. Please help!!!