WANTED: Ideas for a Creative Offer

[Heather Schmidtknecht]

I am interested in a duplex that has a listing price of 89k; there are two units that rent for $450 each.  The property is in pretty good shape; would minimally require painting of garage exterior and window trim on house exterior in the Spring.  Interior could be updated a little, but is 100% rentable “as is”.  There are improvements that could be made fairly easily to increase the rents and the value of this property as a whole.

I have heard that the sellers are highly motivated, but their mortgage pay-off is 85k.  I’d like to purchase it for 70k, and am looking for creative ideas to make a deal with them knowing that their pay-off is 85k.