Is anyone doing subject to/lease options in Seattle metro?
Hi everyone,
I'm interested in having creative financing knowledge as a tool in my tool belt as I embark on wholesaling. My farm area is within the Seattle metro area.
I would love to hear from anyone doing subject to deals with lease options or wraparound mortgages in either Seattle or another high priced metro area with a big white collar worker/tech base (i.e., high median income).
Given the high prices of homes in the metro area and the incomes of those who generally live in the metro area, I believe there might be fewer end buyers who would want to do a lease option or a wraparound mortgage. My assumption is that many in-city buyers would have good credit scores and would qualify for conventional financing. I have not had success in finding helpful data.
Maybe I'm wrong and there is actually a sizable number of potential buyers in Seattle who have marginal credit and a 10% downpayment for a $500,000 house.
I've love to hear from others either in the Seattle metro or other metro areas about the pool of buyers who need creative financing.
Thanks!
--Michael