Property Advice First Deal Creative Financing!

[Patrick Gant]

Question: My Partner and I have found an owner. The owner is 4 months late on their mortgage ($6000) mortgage is 1434 and they owe 111k on their home. The home needs minimal repairs (MAX 10K). The homeowner is open to exploring options. This is our first deal so we are considering creative financing options depending on the buyers wants/needs. Right now we are considering: (1) flip using hard money BRRRR strategy; (2) wholesale assignment deal; (3) possibly renting to the owner? (how would we accomplish this? ----- problem here would be the owner still wants to stay in the house)?

aggressive ARV = 180K

Conservative ARV = 156K

Any advice will help!

Patrick Gant