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Updated over 10 years ago,
Would this be a good Subject to and then rent to own?
Hello BP!
I had a seller contact me about their property and not wanting it to go to foreclosure. They owe about 183K plus a few months of back payments, which is about 10K. Taxes are up to date, but we will see with the next installment.
It is a 4/2/1
ARV is about 230K (I need to get better comps, this is just a quick overview)
Property doesn't seem to need much work. (Have only seen pictures)
Mortgage payments are about 1600/month.
I found average rents from rentometer $2200. I think this is a bit high, found a similar house close by asking 1750/mo.
I am not sure what information I need to get or what the next steps should be, if this is even something I should look more into? Any advice is appreciated.