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Updated over 7 years ago on . Most recent reply
![Raymond Hill's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/638585/1621494392-avatar-raymondh13.jpg?twic=v1/output=image/crop=683x683@0x0/cover=128x128&v=2)
Real Estate Possible Deal
Hello Everyone
Just wanted to get everyone's opinion on the matter I am facing. I have an owner who has a first mortgage of 190k and a second mortgage of 64k on her property. ARV of 290k. The numbers look tight I know I am just trying to figure out what are possible solutions to buy and flip this home. Obviously she doesn't have much equity in the home and she is going to be foreclosed on in 1 month. Any advice on how to go about this?
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![Kristian Peter's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/22230/1621361774-avatar-kristian.jpg?twic=v1/output=image/crop=1582x1582@8x0/cover=128x128&v=2)
@Raymond Hill - you may want to offer less, and attempt to "short" the 2nd mortgage. The 2nd will lose their entire investment if they don't agree to a smaller payoff, and that could free up some room for your potential flip. Have the owner provide a letter of authorization (you can google it for a sample), and then contact the lender with your request to reduce their total payoff to $10k, and if they refuse, hopefully they will counter with a number that is less than $64k, and give you the ability to buy and flip. Hopefully that helps!