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Updated over 10 years ago on . Most recent reply

User Stats

31
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5
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Jarred Black
  • Fairview Heights, IL
5
Votes |
31
Posts

Refinance to Seller Finance

Jarred Black
  • Fairview Heights, IL
Posted
I have an opportunity I need some feedback on BP. I have a lead on a single Fam that would make a great rental. It's a 3/2 in a C+ neighborhood. The seller owes 52K. The ARV is between 75K-85K. The house is good condition, maybe a couple grand to get a occupancy permit, rent for $800 The seller is open to seller finance (very motivated). Im thinking I could do a subject-2 (need info on the due on sale clause) but the seller's mortgage is 623/mo with an 11%. Now the seller mentioned she could refinance for a much lower payment. Can I still do the subject to after a refinance?do the numbers support it?

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