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Subject to idea on my own town home?

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Benjamin Ostler Letter Carrie US Postal Service from Ogden, Utah

posted over 2 years ago
Hello everyone, I am new and I have a town home that I was originally going to rent out when we moved next year but I came a cross subject to deals and I got thinking. How possible and is it worth it to fit my own home into the subject to equation? I'm looking to be creative with different avenues. I like the idea of having a long term payment coming in and not dealing with up keep. Any thoughts? Thank you for any help.

Chris Seveney Investor from Annandale, Virginia

replied over 2 years ago
I am confused. Are you sure you understand subject to. If you were to subject to your property, you would be turning over the ownership of your home but the mortgage remains in your name. I don't see how you would get "cash flow" for this as a subject to benefits the person buying the property and not the seller from a financial perspective

Benjamin Ostler Letter Carrie US Postal Service from Ogden, Utah

replied over 2 years ago

Thank you @Chris Seveney for responding. Homes on my street are selling for 130's-140's. I owe 95 and I have a 4% interest rate. I was thinking about selling it for close to what others on my street are going for and charging a little more APR. Which would give give me a good chunk more then my payments on my existing mortgage.

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