Big Deal, Big Numbers - Posted by Steve

Posted by David Alexander on June 12, 2000 at 16:28:50:

Well, Steve worst case scenario tie the deal and assign it for a profit. Why let the deal die.

Just a thought,

David Alexander

Big Deal, Big Numbers - Posted by Steve

Posted by Steve on June 12, 2000 at 13:57:22:

Thanks to a referral from my friend, who also posts here, I’m taking a property subject to. Its not any old “subject to” deal. This one is easily worth $700k and it has a first of $550k at 8.5% with payments of $4,400 per month. The current owners are three payments behind, facing foreclosure, and ready to walk if I stop the foreclosure and take over payments. There are some other complications which make the deal slightly prickly, but there appears to be at least $100k in profit potential.

I keep telling myself this is just like 4 or 5 of my regular deals, all rolled up in one. The challenge for me is expanding my comfort zone, as Ron LeGrand says.

I’ll let you know what happens.