Sub2 "buy" to Lease Option "sell".

[Aziz M.]

Hello fellow investors,

Here's what I'm looking at:

Duplex- One unit occupied ($450.00 per- mth2mth lease).

ARV= $65K Mtge.= $78k (balance $66k) Payments current.

Monthly payment= $810 (PITI)

Repairs= $2K

I want to buy Sub2, and then sell via L/O to a tenant buyer willing to put in some work equity. Seller is extremely motivated and waiting for my contract.

* Intend to raise the current tenant's rent to about $650, so potentially 2 units= $1300 rental income per mth.

Note: This would be my first Sub2 deal- just wanted some feedback and/or opinions on what to look for, etc.

Much obliged in advance!

Z