Older homeowner - how do I do this?

Bird Dogs, Wholesaling
1

I’m not sure which room to post this in, but this is my best guess.

I"m rehabbing a place right now. Talked to the nice little old lady next door (immaculately kept 2 fam.). She says she just had hip replacement surgery, but she’s not doing so well, but after all, she’s 88, but her older sister, who lives there, is doing ok.

You have the picture.

So, how do I approach this nice lady? And how do I do the deal. I don’t want to take the place while they live or want to live there - I want them to be secure in that both legally and emotionally. Do I offer to buy, and give back a life estate? Do I do a real estate contract for 30 years with prepay on death of last of the sisters? Reverse mortgage?

Any advice from savvy investors would be appreciated. Thanks and Merry Christmas - Kelly

2

bingo,

I like the way you think but realisticly, why would they sell to you. Do they need income, is there an estate tax issue, are they looking to remove assets from the estate? I’d do a little more fact finding. As you gain their trust, maybe they’ll open up to you.

-H