Potential Deal

[Darryl Williams]

I have a potential deal and I'm trying to determine how to structurel. The Seller wants to cash out of a house in a Max of 2 years. He owns the property out right and sell price will be $40,000 it's a 2br/bth with an additional room in basement that can be used as another bedroom. The rent for the area is $700/month, he will finance the purchase with a balloon due in 24 months. He wants around $10000 down payment so the finance is for $30000. The question is how would someone structure this deal where we can make a little money. The house is move in ready. ARV is around 48000. Payments and interest are flexible for the 24 months to seller. I wanted to put a person in the house on a lease option with hopes that they can qualify for a mortgage in 1 year. I am looking for advice because I really don't know which way to go with this one.