You can buy using seller financing or you can buy "subject to" the existing financing.

In the limited reading I've done thus far, the authors touch on this subject in only the most general terms -- i.e. to evaluate a market, one should consider population growth, economic conditions, infrastructure, average cap rates, housing supply and demand, etc.

Not the person who's just trolling their home out there and won't take a discounted/wholesale offer. 3)ARV is established by running comparable sales of other homes similar to your subject deal.

Doing flips or any other active business is fully subject to UBIT, making it even worse than rentals.

If so, there might be an opportunity here, but make it clear to him you would either be assuming his payments ("subject to" purchase) or paying off his lender through escrow.

My goal is to buy very profitable buy and hold. the subject property is not profitable at all.

Louis:Why don't you try to do a subject to deal with cosmetic only rehab.

This LOI would spell out each of the 3 options in detail and also all your contingencies you are asking for.I recommend you include the following at minimum:This Letter of Intent is subject to the following terms and conditions:1.

After all, your opinion of how good it is is subjective.

Since I'm not there yet, and don't have a handle on the market, my plan is subject to change.