Need help structuring a deal

[Lance Nelson]

I'm a real estate agent and I'm working on a deal for myself right now and wondered if anyone might have advice on how to creatively structure it. The seller has gotten into trouble with their second mortgage and the bank is planning on selling the property in a couple of months if the $80,000 second mortgage isn't paid off. Their current first mortgage is about $2000/month. They'd like to sell now and downsize homes. My issue: I'm working on another project that will be done in about 2 months and at that point I'll be able to cash out refi about $300k. I have the money to pay off the the seller's second mortgage right now, but barely and I'll be robbing money that's going into my current project. In a situation like this, would it make sense to pay down the seller's $80,000 and do a land sale contract that says I'll take over their mortgage once they buy a new property and I'd refinance within a year to give myself enough time to finish my project and cash out on it? Any other ideas when struggling with down payment, but you'll have it in the near future?

Thanks!

Lance