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Updated over 1 year ago, 05/26/2023
SubTo on a property nearing foreclosure
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?