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Joshua Lowery
  • Flipper/Rehabber
  • Jacksonville, NC
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Subject to deals!!!!

Joshua Lowery
  • Flipper/Rehabber
  • Jacksonville, NC
Posted Jul 17 2018, 06:35

Good Morning Bigger Pockets Family!

I have interests in a property that I need some guidance from you on.  You helping me will allow you to help someone out today across the US without even leaving your computer which giving you warm feeling in your heart for sharing your knowledge!

Now down to the facts!

Wanting to do a "subject to"deal with this one; (property needs about $ 5,000 in repairs and HVAC unit)

ARV: 72,000

Mortgage: 66,000

Mortgage payment: 550

Rents for 750

_____________________________________________________

Option 1 to the owners:

$2,000 down with me getting new HVAC unit and $5000 rehab. collecting 50$ per month from owners for property management before paying the 550 mortgage. 

Option 2 to the owners: 

$1,000 down with the owners getting new HVAC unit and I'll still do the $5000 rehab. collecting 50$ per month from owners for property management before paying the 550 mortgage.

Does these two options seem reasonable and make sense? This is what I have put together.

 I've reached out to many investors and I  seem to get the "beat around the bush" answer or not a straight forward answer.

Also would it be smart to do a with a lease option with the new renters getting $5,000 down and collecting rents? 

or would I do a 5 year contract with the home owner, place tenants in the property with the option to sell the property after 5 years?

I would love some guidance on how to structure this deal! Look forward to hearing from the Solid Minds Out there!!1

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