Sub2 Deal Structure

[Kevin McGarrey]

Hi All,

Can someone go over sample exist strategies for Sub2 deals? Just say I've negotiated a deal to take over a seller's property, now I "own" the property and am paying the mortgage, what next? For example, B/S agree on a sales price of $100k for a property with a $50k mortgage on it (assuming the house is worth $150k so the deal works). When do I pay S the other $50k?