How do I buy the house I'm renting as an investment?

[Mohamed Abushadi]

I am currently renting a decent 4 bedroom 2.5 bath suburban home in Alpharetta, GA and paying $1,650/month. I would like to buy the property from the owner but don't want to offer a bad deal and in the process anger/offend the landlord. Comparable properties range between $260K - $280K.

Why I want to buy:

• Save on rent as the mortgage will be cheaper
• Fix the house and flip it while living in, holding it for 1-2 years for appreciation

I would like to offer a low price on the property (reduce 25K+ off retail) since I plan to buy it as is, and upgrade everything in it since everything is from original 1990's construction. I'm afraid to offer a low price to the owner since they are not motivated and are happy with the incoming cash flow.

Any ideas or tips on how to make a offer like this would be greatly appreciated. 

Thanks in advance!

(P.S. Credit and down payment are not an issue and I am pre-approved for financing.)

[Jake Mires]

The hardest thing to do in this situation is ask. Thats all you have to do, I would start by complimenting the home. And ask if he would consider selling you the place. Or you can always bring up a rent to own situation. I would offer him a fair price for the home, don't insult him with the price. But when you ask him, reiterate the fact that you can make it easy to transfer title. You're already living there, know everything about the property, and can just sell by owner. No agent needed, that would save him AND you money!