All Forum Posts by: Darren Crawford

Thanks everyone for all your input and trust me I know the deal  doesn't have any meat on the bone and isn't something worth pursuing , specially not for me seeing how I am in San Diego was just hoping maybe with all creative people in here I could figure a way to help the seller out instead of just turning her away after hearing all the bad stuff that she has recently went through not every deal is all about the money for me ....

I have a motivated seller out of Memphis ,TN that I am working with she is a burned out landlord who just lost her mother and is to busy to manage her rental properties and just needs a break. The numbers are tight on this deal but I am hoping I can help her... the deal goes as follow :

Rental Property #1 Saint Charles Memphis TN 38127 ( 3 bedroom /1 bath )

Currently has a mortgage that she still owes $30,000 Current market value of the home is $33,000 property needs minor repairs new carpet and toilet other than that property is in great shape 

Mortgage Payments are at $395 per month ,the property is currently being rented out at $695 per month she is currently collecting rent her self ,so no property management is in place  tenants have been in place for 2 year now and are great tenants property annual tax is $405. 

Rental Property #2 Steal Street Memphis TN 38127 ( 3 bedroom /1 bath )

Currently owes between $36k - $38k on Mortgage monthly mortgage payments are 1st mortgage payments are $365 2nd Mortgage payments are $120 total of $485 per month

Currently being rented out at $695 for the past 2 years property needs no repairs annual taxes $500  Current Market Value $36k !!!

( She is willing to do seller financing or just sell the property for she owes) 

How would you structure this deal ???