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SubTo to Save a Foreclosure, Deal or No Deal
I was reached out by this property owner who is going through foreclosure and see if I can make her a deal to take over the property. The ARV for this property is about $200k. The rehab cost is less than $80k. Current past due to the lender is $7.7k. Total payoff is $89k due to the lawyer fee and process fee etc. Thinking about taking it subject to. Monthly payment for the house is $310. Thinking about holding the house for 6 months and fix and flip. Is this a deal? What are some of the ways to make it a deal if not?