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Updated about 17 years ago, 09/06/2007

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First deal on "subjet to" It got messy ,HELP!!!!

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Posted

Hi

Dont know where to start really ,,Im getting dizzy.....but the owner wants out! AND 25.000$ !!!!

And My girfriend was in to the deal ,,but "changed her mind " . It was a deal ...not beggining to a marriage ,, :protest: No stone unterned..and now Im stuked whith 25.000 $ to pay the owner. and tons of stress .

Its a nice house , but the owner is having a living ZOO basicly in the house . Thats way it never sold for 8 month!!

1 st Morgage 315.000 -(refinanced sep 06 ) aparaized to 395.000 july 27 of 2006 !! payments (arm-1300 $ max 2400$ ..(more numbers if needed)

comps (in the area 400.000$ ) 3 bed 2 bath , the house has 0.46 acre ..new roof, new kitchen , cearmic tile thrue the whole house . Its a great house .
I will stay here (san bernadino ) its a nice neighbourhood , I will refinance later on .

NOW ! Question ... I NEED to prepare for parter ship ( around 30.000$)
Return on 30.000 $ ? negotaible ..

Im getting the DEED . when on title ...I will take some kind of loan in my name ...(pull out soem equty ,, ? I need some money aswell for do some retouching for the property ..dont know relly what the best loan would be ...?

What is resonable to pay for the help , to get this deal going .

Im very motivated ..since the time is ticking .
Its my first deal ,and Im doing my best to get this most honest and straight forward to a solution .
Please help !!!
Its getting too much pressure ...and I think it s a OK deal . !

Correct me for any thoughts ,, just ask the hard quiestions?

Thank you soo much ,,for any input.

look forward for some tuff and ruff replays!

Best
Regards Mario

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