sub / creative finance

[Matthew Espana]

Hi, 

I'm looking for any real estate investors in Bakersfield who have had any experience with creative finance and/or routinely use creative finance such as sub-to to fund their deals. Please feel free to send PM, I am looking to connect. 

Thanks. 
 

[Joe Homs]

@Matthew Espana do you have a deal that you are working on or want to learn how to do sub-to deals?

Good Investing...

[Matthew Espana]

Hi, 

Yes, I recently made an offer on a property and proposed sub-to and was met with strong hesitation. I ended up making a conventional offer and hoping to bring sub-to up again once in contract and see if maybe they're more willing to engage or consider. However, I recently also saw a property that I think is perfect for sub-to, in that its been on market over 100 days and is listed for almost the same amount they bought it back in 2022. However, I am not sure how to approach them. Do I simply tell my agent to ask theirs how much they owe and how much are their payments to see if it even makes sense for me to pursue it and possibly use it as a rental or is there a way to get make a very strong guess and not bother the agent with those questions before having a strong guess first? I guess I just need some guidance, but am very much ready to buy via this financing if possible. Thank you! 

[Jacob Sherman]

what type of creative financing ? 

[Matthew Espana]

@Jacob Sherman, Sub-to

[Jacob Sherman]

if its on the market can just have your realtor ask their representation 

[Tom S.]

@Matthew Espana  I think you need to find out as well what their intentions are after selling.  If they'll be buying another house immediately, it prob wouldn't work as the existing mortgage will still stay on their credit, and they wouldn't qualify for an additional mortgage.