Posted by Charles Parrish on May 18, 2006 at 23:56:37:
Why get involved in houses without a profit potential or equity?
I suggest you use your energy in find a better deal. Why take on the seller’s problem.
The owner took his equity out of the houses by refinancing.
Make the following offer to the seller:
You will buy both of his houses if he gives you 20% of the loan amount at the time of settlement.
This will automaticlly increase your equity, and could give you some sweet cash.
Use some of that cash to learn how to manage tenants.