If the new guy is paying the mortgage (which I really doubt), the old owner is paying for the mortgage debt anyway and he made a bad deal.The QCD event is inferior to the mortgage, so it essentially didn't happen.

., a couple of clarifications;The asking price on a short sale property essentially means nothing, unless the agent actually did a proper job and priced it in accordance with the comp.s"Property forecloses for $282k--next day it is on market..."

Plenty of meat for Sub2 and leads can be asked for from the wholesaler letting them know that you will gladly work these leads and if you close a deal kick them 300 or so- essentially paying down their lead generation cost from the throw away part of the list.

Regardless, you're essentially getting several thousand dollars of completed repairs for free if you insist on performing on the contract price.

So if he would be willing to do it subject to his existing mortgage, I could essentially pay him $X to buy him out of his existing mortgage.

So while I do get understand your market essential doubled ..at least you CAN buy a property at 50k in your market.

Essentially Bigger Pockets is a mentor.

IF my father wanted to offer anything, I suggested he get (going rent in the area for 3/2 is 900) $1,000 per month for the 3 months up front, and then $1,000 for the deposit ( essentially money on the side in case the person has to be evicted) and see if they have the money to do it.

To the active note investors out there:1) Who would you consider essential to your note investing team?

." :) Perhaps mention the fire hazard, safety issues, and the risk of damage to their belongings as well.