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Updated over 1 year ago, 05/26/2023

User Stats

14
Posts
3
Votes
Quentin Johnson
  • Developer
  • Fort Worth, TX
3
Votes |
14
Posts

SubTo on a property nearing foreclosure

Quentin Johnson
  • Developer
  • Fort Worth, TX
Posted

Hello All, 

I'm considering securing a property that's nearing foreclosure. The plan is to SubTo but I'm unsure of the deals viability. House was renovated prior to the initial purchase. It's move in ready. 

Original Purchase price: $235,000

Remaining: $230,000

Monthly Payment: $2282

Average rent in area: $1800

Zillow Estimate: $252,000

Equity: $22,000

Past due + Current month: $9200


Is there anything that can be done to make this an attractive deal for me and the seller?

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