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Updated about 12 years ago,
Profitable Subject To Deal?
Seller contacted me via my DM campaign. She wants to sell so she can purchase another property but says she's having a problem with getting a bank loan because she still owns the subject property.
Subject property:
Sect. 8 rented 2 bedroom townhouse $950/mo rent
Mortgage owed: $42,000 with a 10% interest rate
Mortgage payments: $597/mo
Seller to me:
No money down
Take over payments
How would you approach this deal? I wanted to buy subject-to. Is there a way I appear as owner doing it this way?