Posted by rhunter on April 21, 2003 at 09:43:38:
Terence,
I would love to know how the experts would handle this one also. Why dont you post a specific question so we can all “get smart”.
Perfect “Subject To” Deal Need Help - Posted by Terence
Posted by Terence on April 18, 2003 at 15:57:02:
Hello “Subject To” Experts!
I have a perfect “subject to” deal in my face and I need help.
Seller willing to sell house “subject to” for $850.00/month. Fair market value $134,000; asking 131,000. 3BR, 2BA, 2 car garage
PITI: $850.00
Homes rent in that area for $1200-$1400.
Need assistance ASAP!!!
Terence
(317) 849-6863
Fishers, IN
Re: Perfect “Subject To” Deal Need Help - Posted by Alex
Posted by Alex on May 03, 2003 at 13:34:00:
Terence, I would suggest visiting this website. www.getthedeed.com
This will give you some insight on how to work deals that have little to no ‘equity’ and make a very good profit from it.
Get the Deed … - Posted by Michael Morrongiello
Posted by Michael Morrongiello on April 24, 2003 at 19:51:57:
Terrence:
There really is NO equity that exists in this home if its FMV is $134K and there is still $131K in debt owed against the home…
However, If the home will logistically rent for $1,200.00 + per month and the existing payments on the current loan are $850.00 per month then the real question is WHAT does the seller want for his meager equity if anything?
Does he /she want $3K cash? and then they will deed over the home to you “subject to” the existing debt?
If that is the case then WHY would you not do this deal? (I would have interest)
To your success,
Michael Morrongiello