Owner Willing To Subto Or Have Me Assume Mortgage
i got an owner who will let me sub 2 there morgage of 260k 1900.00 a month. but they also want 205k because of there equity build up. they have 3 tenents wich covers roughly about 3k a month. the price they want is 465k the kitchen needs work on 3rd floor and one faucet needs work in a bathroom. then they got a room that was the bathroom but they moved it to a new location from were it was. the old location is still not finished they need a cealing and paint and a kitchen.
what i thought would be for them to refi there morgage and get there capital all out and then i will take over the payments. i would then lease it out to own. they also wanted to sell this yesterday. any ideas?
total renovation would be 30k - 35k thats 2 kitchen and a room to be painted and get the pipes chainged in the basement. 
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