HOW SHOULD I TRY PUTTING THIS DEAL TOGETHER?

[Neddrick G.]

Sorry about the title I tried to summarize what I'm seeking. Here's the spill:

I know this individual who received a large sum of money about a year ago from lottery winnings. The guy went out and basically spent all of the money. During the time that he still had money, he started building a home on a corner lot that he purchased. The guy didn't use any financing, instead, he paid for the land and the materials and labor to get the home built but of course he ran out of money and it appears he has no interest in finishing the home. The home is framed up with basically most of the exterior is complete. Based on the homes adjacent to the home he was building, this home would have easily appraised and sold for 100k+.

I'm seeking advice on how I could possibly broker a deal or maybe get an investor to buy the home in which I also receive a profit. Honestly, the guy doesn't have any money, he recently just got out of jail due to child support issues and is currently living with a significant other. The house has been sitting unfinished for about 4 months. I was thinking about reaching out to the guy and offering to pay him for the home out right. Therefore someone can finish the home and flip the home. I'm sure the guy would be willing to take significantly less that what he's put into it.

Please let me know your suggestions. I'm currently not in a position to personally but the home for him. However, I do want to get a cut as far as for putting the deal together

[Ned Carey]

@Neddrick G.:  @J Scott gave you your two basic options. You can find more about Wholesaling from the free wholesaling guide under the education tab above. 

@Brenda B. Gave you more specifics on how to proceed. I will expand on that. Talk to the owner and just see what his situation is and if he is interested in selling. You basically have three goals on your first contact.

1. To see if he is interested in selling
2. To determine if he is motivated
3. To establish a price he might expect.

Generally you want to know those in that order. The second one is the most important. No motivation generally means no deal. The third is the least important at the start. That can come in time with negotiation. 

Ask lots of questions about his situation then use that information to figure out a solution.