All Forum Posts by: Ronnie Tejeda

Has there ever been a time where anyone did a deal sub2 the existing mortgage of the seller and in the duration of the time of putting the deal together with the buyer.. had to pay the mortgage yourself out of pocket for 1 or 2 months? As the “wholesaler” middle man

Maybe I can be more specific in the simplest way so you guys can help. 

Seller owes 50k on his mortgage

child support lien of $500

mechanics lien of $2k 

I shoot him an offer of 60k Subject 2 the mortgage. Leaving all the existing liens on the property. 

He nets $7,500.

The "as is" value is 90K. 

I put it on the market for 90k with a realtor representing the sale. 

Now if we get a buyer that puts an offer on the property .... what is the next step. This is where I get lost. 

Steve from Washington

Great! Highly appreciated. 

To Mike M from Arizona,

No worries no offense taken. Appreciate the fast response and the recommendation. To be honest with you I didn't even try out the search bar yet I just went straight to the discussions so I will definitely check that out. This is the first time I am using this website but you are right about myself being new to the real estate investing industry. However, I am apart of the Michael Quarles coaching program and it is amazing. I just wanted to see what other people had to say about the topic. Thanks!

Whats's going on everyone! Glad to be apart of this amazing group.

Has anyone ever done a subject to, or seller financing deal? 

I imagine so, can you please break it down STEP BY STEP exactly how it works if you were wholeTAILING a deal. 

Ex. buying a property 60-70 cents on the dollar and selling it via mls, using a realtor to sell it at 100% "as is" market value. 

I know there are a bunch of videos and articles out there but maybe someone can explain it in the simplest terms and give me a real-life example from their personal experience.

I kind of understand the general concept of the 2 different deals but not completely knowledgeable yet to feel comfortable to the point where I can present this offer to a potential prospect. 

By the way, I've heard both of these deals are better than all-cash deals as if your buying the property to then re-sell.  Please state your opinions below and your why's.

Thank you!