Newer investor and member. I just got my 4th property purchased subject to the existing mortgage. I'm looking for someone with deeper pockets then I and wants to purchase some of these deals off me in the future. As I am only 22 years old I do not have a whole lot of capital to continue in the direction I want. I find several houses a month that would make great investments but are a little too costly for me. If buying a house for 10k-20k in upfront costs interests you please reach out to me and maybe we can make something happen. Also, I'm in North Carolina currently.
What part of NC are you in? The wholesaler I’m working with has had a lot of luck with these types of properties. She currently purchases, then lists them as lease options recouping her initial purchase price. Not my cup of tea, but she has been producing fairly stable income from this strategy.
@Tom Matousek that’s what I have been doing I lease option 3-5 years but it’s hard to find buyers that have 7k+ for a down payment most people can get approved for traditional financing if they have 7k+ to put down. And I find houses that are great rental properties just they are behind 5k+ in arrears plus closing fees and others I’m normally at around 8k to get the house and I currently don’t have quite enough to recoup right away. So id like to sell these deals every once in a while to make a little bit of quick cash. I don’t like to pass on them because I know how much money is made on them over the course of 3-5 years and more if long term.