All Forum Posts by: Mani Festo

Hello,

I have someone who wants me to take over payments on a house in Texas. They are willing to leave the existing financing in place and allow me to make the payments. I know there have been different laws passed that have made sub2 more difficult (or are they even still possible??) in Texas. I would like to add that I would be occupying the property as primary residence.

Like for example.. if I am planning to occupy it and hold long term... how should I handle the insurance?

What type of sale contract should I use? I plan to refi within 2 years.

If it is possible can someone point me in the right direction to find up to date info on what is required to carry this out? I want to make sure I am protected from the possibility of the seller doing anything that would add additional liens etc on the property.

Any help is appreciated greatly.

Thank you. :mrgreen:

I am looking for a hard money deal to purchase a rehab SFR. Purchase price $460K. Needs about $75k in rehab. ARV is $800K - $900K. I want to be able to get into this with as little out of pocket as possible so I would want it to be possible to roll the payments etc into the loan. At least 3-4 months of payments anyway. I don't want to mess with documentation etc.

I don't know if it helps but my LLC has a great paydex listed with D&B since 1999 and high Business Experian score listed since 2001.

Exit: I want to refi and hold. Second choice: Sell.

Again, I would like this to be an equity based approval. I will PG if I have to - but I don't want to have to jump thru hoops of providing financials etc.

Can anyone get this done?

Yes...

It is in Travis county, Austin, TX

Thanks

I am looking for a hard money deal to purchase a rehab SFR. Purchase price 600K. Needs about $65k in rehab. ARV is $900K (comps are higher). I want to be able to get into this with as little out of pocket as possible so I would want it to be possible to roll the payments etc into the loan. At least 3-4 months of payments anyway. I don't want to mess with documentation etc. I am sure the seller would be willing to carry a second if the numbers are cutting close.

I don't know if it helps but my LLC has an 80 paydex listed with D&B since 1999 and Business Experian score of 97 listed since 2001.

Exit: I want to refi and hold. Second choice: Sell.

Again, I would like this to be an equity based approval. I will PG if I have to - but I don't want to have to jump thru hoops of providing financials etc. preferably close in name of LLC if possible.

Can anyone get this done?

Thanks! :D