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Updated about 15 years ago,

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717
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50
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Greg P.
  • Los Angeles, CA
50
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717
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Need some advice - Subject to deal?

Greg P.
  • Los Angeles, CA
Posted

Hello, I was offered a newly remolded 4plex for my small restaurant. The comps are showing that a complex in this area are selling for around $200k. She has a mortgage of $110k, and she wants to do a trade. The problem is, I can't get bank financing to buy the property. So, my plan is to either subject to or contract for deed the property and then resell it on the open market. Which option would be better and is there a better way to handle this transaction? My main goal is to cash out. Thank you for any advice in advance.

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