NO EQUITY WANT TO SELL

Hey guys/girls has anyone closed on a deal with no equity…whereby your offer to purchase was subject to the lender short selling…discounting the note.

I have a prospect with nice home home but owes more than it’s worth, U know the story…his friend told him I did short sale for him, although he was in foreclosure. But he wants to sell & buy him something more affordable…I can make this into (2) deals if we can make it work.

Unless you can profit from the incoming rent minus the outgoing mortgage or you can discount the underlying liens to create an equity spread you have nothing. Sorry.