Creative Real Estate Financing

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Eno Roj
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Need help for potential subject to financing

Eno Roj
Posted Oct 30 2022, 20:15

I am a new member and trying to navigate my way through a potential Subject-to financing deal. I'd like to connect with someone around Philadelphia who is well versed with this kind of contracts and help pitch it to the seller properly. 

Can you also give me your experiences with this buying homes with the use of Subject-to financing in Philly suburbs?

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Kerry Baird
  • Rental Property Investor
  • Melbourne, FL
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Kerry Baird
  • Rental Property Investor
  • Melbourne, FL
Replied Nov 16 2022, 09:48

Since so many days have passed, you might not still be interested in this deal.  I am not in the specific area you mention, as I did my sub2 deals in Arizona.  However, I did set up my deals with an investor friendly title agent.  I have also closed seller financing with a real estate lawyer.  Either of those can help you with contracts. 

As far as pitching to the seller, it often comes down to their motivation in relationship to speed and convenience for the seller. I have offered lease options, and my motivated sellers preferred the sub2 for its finality.  My tired landlord sellers want a tax benefit, and by carrying back, they get a lump sum with my down payment and then they get the rest of their equity over time...meaning they don't have to pay tax on that income until the year it is realized.  When I make an offer to a tired landlord, I mention this as a benefit to them.

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Kerry Baird
  • Rental Property Investor
  • Melbourne, FL
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Kerry Baird
  • Rental Property Investor
  • Melbourne, FL
Replied Dec 7 2022, 07:02

@Eno Roj