First Subject To Deal...And it’s a creative one

1 Reply

Hey everyone! I have a deal in the works that is in the verge of falling apart. I am a subject to Investor in the Swfl area and my seller has a property that is worth 230k willing to sell for 200k. They have a 150k mortgage on property and willing to carry a 50k note. The issue I am running into is they need 30k upfront to purchase their new home. An idea I had was to involve a note buyer however most will not take a second lien position and want 3-6months min of payments. I even considered a wrap around. Any suggestions as to how I can give the seller what she wants and come out the deal with no money from me attached Thank you all

Tell them that you can give them 30k, but thats it. Find a friend or other investor to lend you the 30k. Give them a note for 35k or 40k or whatever number that works for them. You basically created a discounted note for them.

Honestly, buying a 230k property for 200k is not really a deal, especially if you are going to have to pay 8% or 10% on that 2nd. If you can get them down to 30k, it looks better.

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