Subject To Existing Lien Deal

[Leroy Williams]

Investment Info:

Single-family residence other investment in Hampton.

Purchase price: $204,000
Cash invested: $5,025

Another successful trip to Virginia. I've been in negotiations for a little over a month with the seller. Due to a particular life situation, she had become overwhelmed with mortgage payments and couldn't consistently pay on time. She was "months" past due and didn't want to destroy her credit worse than it had been. We spoke. I educated her on how I could assist. Even let her speak with families I've helped in similar situations. Once she was confident I was the solution to her problem, I couched her on negotiating the restructure of her loan. This process was key to providing relief to her and securing the acquisition for me.

With a little clean up and minor repairs, my team will have this home available for a deserving family facing a different sort of life situation.

#subto
#renttoown

What made you interested in investing in this type of deal?

Opportunity to help another family. Low financial entry to barrier.

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

Cold calling.

How did you finance this deal?

Personal funds.

How did you add value to the deal?

Assited in finding a solution to a seller's life situation. Will ultimately provide a home to a deserving family.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Reputable real estate attorney in the Hampton Roads area.