Looking for JV Partner or lender for Subject-To deal in St. Louis

[Rob Terpilowski]

Looking for a JV partner on acquiring a property subject-to the existing mortgage.

4416-4418 Minnesota Ave.
St. Louis, MO

Townhome

HOA Fees: None

Mortgage Balance: $40k

PITI: $462

Rate: 3.75%

Originated: Dec 2009

ARV: $135k

Rehab: None

Estimated rent: $1,100

Cash to Close: $45k (Cash to seller, wholesaler, closing costs)

Potential Exit Strategies, listed in order of preference:
- Sell on an owner finance wrap
- Sell via Lease Option
- Rent
- List on market and sell retail