How do I make Money on this deal?????

[Christopher Griffith]

Hello BP,

I am very new to the investment game. I recently got a lead for a property that is in lieu of foreclosure. The seller is an elderly mother and daughter that do not want the property. The mother has not been paying on the property she was informed by the bank that the amount owed is over 315K (2 family in the Bronx NY) they were considering handing over the keys to the bank until I stepped in. I spoke to the daughter today and she told me that the bank wants to appraise the property because it has not been appraised in years. They told her once the appraisal is done they will give her paperwork for her to sign so I can talk to the bank in regards to the property.

How do I negotiate this deal so that I can fix flip and make some money?