Strategy to buy upside down house

[Steven Booty]

I found a single-family house that works as an investment property but I'm pretty sure the owner has an upside down mortgage on his hands and likely no equity in the house. His asking price is too high for it to be a good deal.

Are there any strategies I can take in this situation? (besides moving on)

[Amanda G.]

@Steven Booty, not the answer you want to hear, but probably not. If he is very motivated there is the possibility of a subject to existing financing, but you'd only want to do that if the numbers still worked for you. You could reach out and let him know that is an option, and then move on and let it sit in the back of his mind. Then follow up if it sits on the market for ages.