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Updated almost 8 years ago on . Most recent reply
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Subject to, Guidance and Education.
Most Popular Reply
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@Anthony Johnson great job on doing subject to Investing.
Add this tool to your belt!
I am doing similar investing, but i actually partner with the homeowner, so there is no Buying Subject To, as the owner is still in place with me. We start an LLC, we put both our names in it, as a 50/50 partnership. Quit clam the Deed into the LLC. I pay the mortgage to current, but make sure the home owner is out and the Locks are changed, as they can just move back in or stay after you pay the mortgage. Not a good situation to be in when you're out thousands and they are living in the house all happy for free.
I rent it out, and give them half of the Net cashflow. If there is a lot of equity, we sell the house, and split that.
Makes it easier to get home owners to work with you, and looks less predatory if it ever goes to court.
Happy Investing