They lowered the price a couple times and then I offered another 6.9% below that and we have a deal.I suspect they have a mortgage at 3.6% based on when they last got financing and I REALLY would love that rate, so much that I'm open to re-doing the deal much closer to their most recent listing price if I can get the house subject-to the existing mortgage and give them cash for the difference. 

Now I'll be at $350k financing 50% or so... yielding half the returns for all that work!  

It depends on your finance and your strategies as well as your exit plan.

With that being said, it's a good idea to get an understanding of what kind of financing you will use and what you will qualify for, so you know what to expect in terms of leverage, rates and terms.

An open-house - and we were able to negotiate the price down by $41.000 How did you finance this deal?

How did you finance this deal?

Gene,Best two ways to make money and buy multiple REI's quicker is either "All Cash" purchase of a property and immediately do a "Delayed Financing" loan.

My thoughts were:-Purchase at $220,000 with subject-to financing-Pay the $6k to get mortgage current, then take over the existing mortgage/payments-Give seller 2nd lien position and pay them $500/month (100% go to principle balance on 2nd lien)This essentially becomes a break-even (or small loss) situation on monthly cash flow, but I own the property with $0 money down and get the benefits of depreciation.

We negotiated 300,000 in seller financing.

An open-house - and we were able to negotiate the price down by $41.000 How did you finance this deal?