Owner financing for flips...possible?

[Mark Donohue]

I have a seller who is dramatically overpriced for his listing (on the MLS for 300 days when the market average is 65). The house needs a lot of work and I am willing/able to do it.

I am thinking the win/win may be for him to hold paper on the property with a 6-12 month option. However, I am not sure how I could then sell the home and make a profit on the back end.

Is it common/possible to use owner financing for a flip or do I need to use private money and just buy it at the price that works for my numbers?

I own Anson’s book, but seem to have misplaced it at the moment...