Updated about 10 years ago on . Most recent reply
Subject To deal question
I have a tired landlord that is selling 4 properties in Georgia. He stated if I give him a good deal on the first one I will get dibs on all of the others. First let me tell you I am not in position to buy it myself, this will be a flip to a buy and hold investor.
Here is the info: 3/1 - built 1920 - central air installed- PVC piping - hardwood floors - Roof 7 years old - new Hot water heater- ARV on house is $65k - Decent school district- Rated 5-6 and 6 - there is a outstanding loan for $41k - A tenant paying $650 per month. Landlord selling to move to Florida and he understands Subject To and know it's going to be that type of deal. Paying $500 month on loan - fixed rate - rents in area for similar house is- Comps are 3/1 sold for $63k ,1000sq ft - 3/1 sold for $79k ,950sq ft - 3/1 Sold for $87k , 1546 sq ft.
How would you structure a Subject To for this deal to flip to a buyer. As a buyer what would interest you in this deal. Owner may want some cash from deal, how much would you give the seller.