Good deal or bad deal?!?

[Erica Hatfield]

I got a call from a absentee direct mail campaign. Homeowner is interested in selling. Renovation was started but still needs to be finished. Owner can straight out and said comps were 400K and he would not entertain 200K. The place has potential to be converted from SFH to duplex. The mortgage info states 155k and assessed at 28K. I asked owner was there still a mortgage but question sort of ignored. Homeowners seems pretty open to ideas I want to present seller financing and I fund the rehab/mortgage renovation is done and property sold. I think I heard a BiggerPockets podcast like this; but I can't find it. How can I negotiate the owner carrying loan while I renovated and sell to end buyer

[Anthony Dadlani]

@Erica Hatfield Typically seller financing long term is an option when there is no mortgage. 

Suggestion #1 offer a JV to the seller. You invest the remodel funds and then share profit when the property sells. We have had success doing that often with our PM partners.

Suggestion#2 Bring in another investor to buy the property cash outright

Best of luck in all your endeavors.