OfflineHey DG family!(: I had a quick question on subject to's. Well Ive bought yellow bandit signs and business cards flyers and started marketing. Now ive got sellers calling but some of these leads are people that are over their heads with their mortgage. So is there a way to help these people by getting a "qualified" tenant in there to pay their mortgage? Or rent to own? Is this what subject to deals are?
Some of these leads weve got are sellers that are not behind on payments but are barely making them. so they really want to sell but their house is barely worth what they owe.. so is there anything we can to make it a win win? Thanks for any advice.(:
Robert.
yesterday is history, tomorrow is a mystery, but today is a gift. That is why it is called the "present."
"Be not afraid of growing slowly; be afraid only of standing still"
I've never done a short sale so have no advice except to read up on the subject here in the forums. And, see if there are other experienced DGs near you that might pay you a finders fee, or partner up with you on these deals. Good luck with everything.
Those who kill time murder opportunity.
"Beloved, I wish above all things that thou mayest prosper and be in health, even as thy soul prospers." III John 2
"To get up each morning with the Resolve To Be Happy is to set our own conditions to the events of the day. To do this is to condition circumstances instead of being conditioned by them." Ralph Waldo Emerson
What do the sellers need or want. Don't you need to find out what kind of loans they have to see if you can take over the Mortgage or to find out how much you need to purchase. If it's a good mortgage rate and terms, see if they want to just work away and you can take over mortgage. Then find a renter or wholesale the property. I think it's depends what the seller needs.
So as long as the seller is willing to work something out I should be fine? What if the sellers owes A LOT more more than what the house worth? For example he owes 190k his house is worth 110k? Is this when a short sale is required?
yesterday is history, tomorrow is a mystery, but today is a gift. That is why it is called the "present."
"Be not afraid of growing slowly; be afraid only of standing still"
from lease options. Guess I will have to look that up. somehow they seem the same to me right now.
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