That extra cash can be used to lower your debt or possibly buy and additional rental.

If the rate isn't locked for 7 to 10 years then I do not count it for that length of time.You will also have to factor in resale costs or refi costs or diminished returns from taking on a cash partner to retire the debt when it comes due.From my experience really small local banks will look at problem properties or problem areas to possibly give a loan.

Most of our debt is from South Bend, IN and less than three years old.

Hi Dylan,Here in California, the amount owed on the loan is on the notice of trustee sale as 'total debt' or something like that.

(You could eliminate any default penalty under the contract as consideration for the additional earnest money ;) ) Hope it works for you.If not, you may need to use the option route and a separate lease with rents paid at market rates and an option price paid as you might agree to structure the deal

With houses that cheap and your income so good, there is really no reason to accumulate a lot of debt.

The primary issue is even though there is positive cash flow on the 10 properties the existing debt on the portfolio is approximately 8 % OVER FMV I'm interested in hearing the opinions of the community about this type of subject to scenario which I'm sure comes up frequently otherwise the seller probably wouldn't be willing to do a subject to.

How I Took Tenants From the CompetitorsRecently I initiated a discussion about how I was more competitive without debt.

The owner has alot of equity in the building but the mortgage is sure to be above $160,000 so that would eliminate just the standard 'subject to'.

Debt Relief?