Off market deal….SubTo?

[Tim Blanchard]

We have a potential off market deal with a neighbor coming up.

They have an STR next to one of ours (both perform well). They just moved out of the area and are thinking about selling. I'm wondering, since we've been pretty open with them from the get go, if it might make sense to present them with a "subto" deal? With rates being where they are, they purchased in ‘20 so I suspect their mortgage is at a rate well below 5% and it would be great for our bottom line to get that rate ;-)

I’m not familiar with “subto” deals at all but from what I’ve heard, this sounds like a ripe opportunity.

Thanks!

Tim

[Eliott Elias]

Purchasing a property subject to is complex, you first and foremost need to get educated on proposing this and what it actually holds you and the seller liable for. This is not a traditional transaction by any means and you need to understand it fully.