My mortgage is 2k a month.

Hello everyone, I been doing a lot of reading ,researching , YouTube ,I understand the wholesale strategy,find deal ,do comps ,negotiate with seller but what if they want to get out n still owe on their mortgage how you negotiate

He purchased the property back in 2006 for $232K with two mortgages on it.

Good morning fellow BPers: I’ll get right down to it.I’m at the tail end of my first 1031 deal (hurray).Sold a property in Los Angeles and was able to buy three townhomes in, yup you guessed it, Eastern North Carolina.I closed on the first property two days ago, with no mortgage.

@Rich Hupper FHA mortgage fraud carries a maximum 30 year prison sentence and $1 million fine.

Obtaining a new mortgage and keeping existing properties I own as rentals.

My mortgage on it went from 170K to 125K over the 12 years, it doesn't cashflow great, but when the mortgage is paid off I will cashflow 13K a year from it for the rest of my life. 

Obtaining a new mortgage and keeping existing properties I own as rentals.

I will be assuming the mortgage of around 274k, and the rest will be under a contract for deed.

Even with 65 k as down payment mortgage and taxes and maintenance fees will eat up most of my salary with condo prices at around 400 k for a one bedroom.