First subject-to deal

[Alec Anderson]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $161,000
Cash invested: $30,000
Sale price: $245,000

First subject-to property. Was all cosmetic work but the basement did flood after we listed it, which ended up hurting our budget.

How did you find this deal and how did you negotiate it?

Found on Facebook

How did you finance this deal?

The seller mentioned just wanting the loan paid off as purchase price. I partnered with a more experienced investor who knew how to structure subject-to deals and we bought it with minimal money down, only closing costs.

How did you add value to the deal?

I brought the deal and most of the rehab money to a partner with more experience and we both made money