Subject To $270.16 @ 4%
Deal Review:
Mortgage Balance $56,260.64
Current Terms: $270.16 per month at 4%
Added complexity is financed Solar Panels: $35,000 they made the first 3 payments and then went delinquent. Never had them connected to the meter so they’re just sitting on the roof.
Owner (elderly couple) looking to move into a small retirement apartment wants $15,000 cash and willing to do a subject to deal on the existing mortgage and solar panels.
Home is on the MLS for $112,000.00
Needs foundation leveling, approx $30K Rehab
Comps are $145K to $190K
Any suggestions? Would like to use as a BRRRR