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Updated over 9 years ago on . Most recent reply
Subject to strategies
Hi all,
I've got a question on subject to deals. Have any of y'all been successful in a subject to where the owner is behind on payments and the mortgage payments are higher than what the market rental comps are? The seller is motivated and wants to avoid foreclosure, so I'm looking for a way to make this work if it's doable.
Thanks for your input, BP community!
-Kim
Most Popular Reply
Brian Gibbons
#5 Guru, Book, & Course Reviews Contributor
#5 Guru, Book, & Course Reviews Contributor
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- Sherman Oaks, CA
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Brian Gibbons#5 Guru, Book, & Course Reviews Contributor
#5 Guru, Book, & Course Reviews Contributor
- Investor
- Sherman Oaks, CA
Kim this is a dog,
- worth x
- you pay x + 10K
- no cash flow, neg cash flow
- On sub 2 you pay PITI and maintenance
- loan can be called, upside down
You profit at the purchase.
You are dealing with an unethical seller. He wants to buy land over paying a mortgage in his name.
NEXT!