Posted by tmofa-IN on January 12, 2004 at 19:18:00:
Not a landlord,
Negotiate a price first, then look at options,ask if he would be willing to refinance to the asking price then you T.O.P?
Do a wrap-around mortgage. Ask if you could lease for 6 months to 18 months, then buy at whatever agreed upon price and put either nothing down (I’m going to use the money to fix up) as little down as he will accept. He gets a monthly payment but does not have to deal with the headaches.
Or long term lease split the profits and you manage them, he keeps the titles. You benefit and he benefits.
Just some thoughts.