Asking bank to ok a Sub2 deal or Lease Purchase?
I have a potential seller who wants out of their mortgage. I was trying to decide if it would be a good idea to get the banks approval for me to do a sub2 deal with the owner of the property? If I don't, I'm afraid one of bankers may get wind of the deal and call the note due. Or, would it be better to do a lease purchase? I'm sure they could call the note due with this deal as well? This is a local bank in a small town.
Has anyone done this before? How did it work out? And if turned out well, what did you say to the banker to get them to agree?
Should this be a big concern of mine? This will be my second SFR. I am new at this but I am learning everyday about different ways to be creative. Any feedback would be much appreciated. Thanks in advance.