wholesaling, owner wants to do 1031, any deal structure ideas

[Elizabeth Blazina]

Hi, I am in the process of  presenting an offer on a property owned outright.  The seller has had for over 30 years.  He has stated that he wants to do a 1031, however he does not have another property in mind yet.  I am assuming he is not getting any break for taxes or appreciation at this point since owning it for 30 years.

Generally with a zero mortgage , and a motivated seller, I would be structuring  my offers a few ways for e.g a Partial payment up front, and a balloon later( 6-9 months ) for a flip.  

However since his main objective is to use this for a 1031 ( of which he does not have another property yet) I am not sure what I can offer.  It is my understanding ( per Brandons recent 1031 article ) that he cannot deposit any monies into his account. So I am thinking that I cant offer any monies upfront .  

This is a property I will wholesale mind you, so any investors or wholesalers that have bought from someone wanting to do a 1031 I would love to hear how you structured this.  Aside from the "all cash offer" which is pretty straight forward .. except that he does not have a "like" property yet.