Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 9 years ago on . Most recent reply

User Stats

57
Posts
9
Votes
Gabriel Jeroh
  • Houston, TX
9
Votes |
57
Posts

How would you structure this Subject To deal in Houston, Tx?

Gabriel Jeroh
  • Houston, TX
Posted

I have this Subject to off market deal in Houston, tx: 

Seller's Motivation: Needs to move to smaller house close to work place.

ARV: $185,000

Repair: $5,000

pending Mortgage: $135,000

Seller currently lives in property and willing to vacate ASAP.

All payments are current and no lien on property.

How would you best structure this deal? Whats the most suitable planned exit?

Most Popular Reply

Account Closed
  • Investor
  • Central Valley, CA
3,729
Votes |
6,037
Posts
Account Closed
  • Investor
  • Central Valley, CA
Replied
Originally posted by @Gabriel Jeroh:

@Sandra Gibson am not talking about the purchase price at this point. Lets assume the deal has that much equity; I am looking at the way to structure this deal without the seller's attorney turning down the offer. Have you done a similar subject to deal with so much equity?

I have done sub2 deals with such equity.  IMO you're unlikely to be able to negotiate a sub2 deal with an attorney involved.  The seller would have to have circumstances that couldn't be solved by an immediate sale.  The seller has plenty of equity and no extenuating circumstances. Any attorney doing their job is going to steer their client away from a subject to transaction.  

IMO sub2 works best when it solves the seller's selling problem, not the buyer's buying problem.  No cash to buy is a buyer's problem.  

Loading replies...