Anyone out there,
I got a question. I'm a single mom and trying to do a subject to and lease option. I need some guidance here.
I know I filled the purchase agreement, deed contract, and assume to pay the seller's mortgage. The deed contract, will I closed at a title company? I'm looking to rent that property within the next 3 years and sell it to another buyer.
How do I profit that? or have a smooth transition.
Now lease to option. I'm reading a book from an investor who wrote it. I have some questions. If the seller sold $100,000 and still have equity, I accept her/his offer, paid $1,000 option to buy. Let's just said I found a tenant buyer and offer the selling price to her for $160,000 and he/she paid $5000 option fee for 18 months.
My question is how to the seller gets paid when she sold $100,000 to me and how do I get paid when I sold $160,000 to the tenant buyer.
I know it sounds confuse. I would like an mentor if anyone can help. I went to the flip men TV show workshop but not willing to pay $41,000 on doing these deals. If I can find a mentor that of course is affordable but not too expensive like those workshop, i'm willing to pay.
Thanks,
Amanda
