Trans union missed an obvious reject candidate and now I’m paying the price.

They have about 250k left to pay off and the value of the home is around 400k (based off of Zillow).

That’s the magic of real estate compounding over time, and it’s stories like yours that really highlight this.. from what i read in the street journal, that slow build often outperforms shorter-term stategies.From an investor-friendly agent’s perspective, being willing to dig into the neighborhoods (driving for dollars) and having a robust network.. from probate attorneys to local contractors.. can pay off big.

If this is what sub2 is, then why are people paying tens of thousands of dollars to learn this process?

My plan is to buy the house subject to their existing mortgage, renovate the property, refinance it and pay off their remaining loan balance using the money from the cash out refinance.

My portfolio is not that large and it irked me to pay a bookkeeper so much and still have to do a lot of the work.

He knows the loan will pay and they won't default because he knows they're solid. 

Mainly the panel is in the basement and it would require a ton of work and paying for labor hours + repairs. 

They also discussed a capital call but instead decided to borrow more money to pay the bills.

I know what it’s like to be in your position, and I believe in paying it forward.