Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago,

User Stats

28
Posts
2
Votes
Ocie Gibson
  • Real Estate Investor
  • Clarksburg, MD
2
Votes |
28
Posts

Subject 2 va

Ocie Gibson
  • Real Estate Investor
  • Clarksburg, MD
Posted

I wanted to ask some of the subject to vets here how would you structure this deal.

I have a home I'm about to buy, the owner is going to let me catch up on the rears of the mortgage which is about 12k then I'm going to pay 2 months advance mortgage payments while i rehab the property. I'm going to give the homeowner 30k for the house.

NUMBERS

MORTGAGE PAYMENTS 12K REARS 2K ADVANCE PAYMENTS

30K TO THE HOMEOWNER

While I have control over the home I going to rehab the property then I will resell it. 

So I'm thinking of setting it up like this your thoughts here are my options

1) Should I Do a Quit Clam Deed ?

2) Because its a probate property have the seller create a trust with me as the trustee, then i Buy the beneficial interest by purchasing it from the seller for 30k

HOW WOULD YOU SET THIS UP ?

KEEP IN MIND I'M DONG THIS BECAUSE I DON'T WANT TO PAY 2 CLOSING COST MEANING WHEN I BUY IT AND WHEN I SELL IT.

Loading replies...