Posted by Bill Hebert on August 17, 2007 at 13:04:29:
There are several approaches you could take: 1) get them to sell it to you subject to their existing mortgages and have them make the next 2 or 3 monthly payments; 2) Do a joint venture with them and have them pay all the bills and then share the profits with you; 3) bring in some equity partners to fund you during the 2 or 3 months of negative cash flow. The sellers are in “trouble”. You can solve their “problem”. That puts you in the driver’s seat when you negotiate with them.