Incredible Single Family Home Investment Opportunity

Incredible Single Family Home Investment Opportunity

New to Real Estate · Knoxville, TN · Member since 2024 · 1 post · 0 votes

Investment Info:

Single-family residence buy & hold investment.

Incredible Single Family Home INVESTMENT OPPORTUNITY! Hyperlink to listing below

https://www.offermarket.us/listings/528-College-St-N-Madisonville-TN-37354-USA

What made you interested in investing in this type of deal?

This deal has massive upside and I could not pass it up.

How did you find this deal and how did you negotiate it?

I am a car dealer and one of my employees' hit hard financial times and was unable to continue making payments on their home. After about one month of listening to the families issues, I offered make the payments to bring their mortgage current. The seller agreed to my offer and now I took the property over Subto.

How did you finance this deal?

I am sourcing private money to close.

What was the outcome?

The home is under contract and I am looking to close this week.

Lessons learned? Challenges?

This entire process has been a learning lesson. I have never worked in real estate and navigating unfamiliar territory has been challenging.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No, I would love some help.

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  • Real Estate Coach · Miami, FL · Member since 2024 · 1k+ posts · 485 votes
    2y

    Hi Justin, 

    you're off to a great start with this creative acquisition strategy, especially for someone new to real estate. Taking over the property subject-to (Subto) the existing mortgage is an advanced tactic and can be highly effective when cash flow or equity potential is strong. However, navigating the legal and financial complexities of Subto deals requires careful attention, so I’d recommend working with a real estate attorney to ensure everything is structured correctly.

    Securing private money for the closing is a smart move, but ensure your terms allow for flexibility in case of unexpected repairs or delays in cash flow. Since you're new to this, building a reliable team of professionals, an experienced agent, a lender, and a property manager→ will be crucial for long-term success.

    If you need assistance with financing or further guidance on scaling your portfolio, feel free to reach out. Happy to help!

    Best,

    Drago

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