Found a run down house, going to talk to owner, options to buy?

[Lesley Govan]

Hi,

I found a house, I've called the owner (left a message) I need to know if they want to sell how to structure it.

Seller financing? and if say I buy the house from them for $50,000 and they hold the paper and I rehab it and want to sell it how does that work? I'm confused?

Or just buy and do a flip?

I may want to buy and hold.

This is my first attempt at a deal and I'm not sure what to do. Flip seems logical but if they hold the paper it would cost less for me, but not sure how to make it win win.

Any advice appreciated. Nervous nelly! lol