Help on subject to?

[Thomas Gutierrez]

Ok guys I am needing some help on a deal. So my neighbor is 20k behind on Payement and have a total loan of 175k. House is worth about 230k how would I go about structuring this deal? Would it be a subject to deal? If so how would I go about doing paperwork and everything to make it legitimate

[Curt Smith]

Hi Thomas, I'm focusing just on sub-to, have put together education that I present to my local REIA. Connect/PM me I'll send you this PDF. Then email me and I'll help you get this deal closed. Sub tos are such a good deals I hate to hear of folks new or experienced screwing them up!!! Sub-to is the most complicated deal there is, more docs AND post closing very very important steps post closing. Most deals you are done once you close. In sub-to you are just started with the steps.

I'm assuming the mortgage is well well under rent.  I suggest rent must be more then $400 vs the mortgage.   And that the repairs to ake rent ready is not that much.   I've put in $40k post closing to fix up, I've only done $20k.   

Most sub tos have some form of stress invovled so its hard to actually close on one that doesn't need much rehab,,, so $15k would be the least I could imagine;  paint, flooring, fixtures, no ac or roof.  Add an ac and now $20k.