Help Structuring a Offer "Subject to existing mortgage"

[Ulises Ramirez]

Hi everyone I'm just starting my journey & need some guidance. I placed some signs out & received a call from a seller. They are behind $24,000 on their mortgage. They need to sell because they need to relocate. I understand there is no way I can wholesale this property however maybe I can get it under contract "Subject to the existing mortgage" & assign it to someone. For 10% down. I was thinking of reaching out to local agents who might have a buyer who couldn't qualify for financing. The 10% will take care of the default amount. Thoughts? Any one in So Cal area around San Bernardino? Thanks in advance.

[Paul DoCampo]

Ulises Ramirez , from newbie to newbie I can relate and tell you that Aaron Mazzrillo is totally right that the only reason you are forcing this to work is because you have nothing else in the pipeline (I'm guilty and still guilty of doing this) .....

From my little experience that I have, Trying to force something out of nothing like these types deals (especially for free) is going to not only tire you out early but frustrate you because of all the hard work you are going to put into it and most of it not fall through....

The homeowners I have dealt with that are similar to yours and are highly motivate but expect something, don't show any gratitude...if you want to help people out for free , give out free lunches to homeless at the park , they will show much more gratitude . There is too much risk, money, and work involved with doing real estate transactions for free