All Forum Posts by: Consuela Adams

Don’t miss this opportunity: 4.7 acres of buildable land in Lagrange, GA ready for your next project!

• Located on a buildable lot

• Includes 2 septic tanks and a well

• Perfect for development, investment, or building your dream property

• Asking only $85,000

Serious inquiries only. Email: [email protected]

Hey everyone,

I'm looking for some guidance on what I originally planned to be my first fix & flip, funded by a private money lender and partnered with an experienced flipper. However, after digging into the numbers, I’m thinking this may be better suited as a Subject To deal instead.

Property Details:

• Owner still owes $242K on the mortgage.

• ARV for similar properties is around $350K–$360K.

• Rehab estimate is roughly $60K–$70K.

• Seller says the monthly mortgage payment is around $1,100 at ~7% interest.

• Property has little to no equity, so it's not ideal for a traditional fix and flip.

Given the numbers, a flip would only work if I could buy it well below the existing mortgage balance, which clearly isn’t the case. So now I’m wondering:

1. Could this be a good candidate for a Subject To deal?

If so, what should I look for to confirm if this structure makes sense?

2. What documentation do I need from the seller to verify if creative financing is even an option (e.g., mortgage statement, payoff amount, loan type, etc.)?

3. What other information should I be collecting to analyze whether this is a good opportunity?

4. If this is a viable Subject To deal, is it possible to partner on it with another investor, or would it be better to wholesale it to a buyer who specializes in creative finance? 

I appreciate any insights from those who have experience with these types of deals. 

Thanks in advance!

Advice please? So I found a off market lead and the seller only wants me to talk to his agent from now on and he also wants to only use a GAR (Realtor) contract, that his realtor will prepare. This is the purchase and sale agreement that agents use when the house is on the market. I've never used this purchase and sale agreement before, what can I have them add to the agreement to make sure my contract is assignable? He also wants the EMD to be 2,500🙄 and sent to the real estate attorney in 3 days😳. He did agree to close with my attorney of choice though. Should I even pursue this? 😒 who's paying the agent? will she get 6%? 🤔 what should I look out for on Realtor purchase and sale agreements?

Thanks for any advice

@Andrew Postell great info!! Thank you so much! I will look more into the down payment assistance programs!

@Andrew Postell yes

@Brie Schmidt thanks for the advice! I did get pre-approval for the loan but cash for 3 months or closing cost is something I do not have. I was wondering if there were any other creative financing ways to fund the deal. Thanks again for the advice.

Seeking Advice: I'm looking to buy a duplex property in Atlanta with an FHA 203K loan, found the property myself off market. The property would generate excellent cash flow with more that 9% of cash on cash return. I believe this would be a excellent BRRRR property. It is in a excellent school district. How should the off market deal be structured on a contract when no Real Estate Agents are involved? What other funding could I use for closing and the down payment if I have no cash to fund the deal?

Thanks for any feedback

@Mike Wood thank you for the advice!

Question for new builders-, if a buildable lot is In the flood zone could a new foundation be built on cement blocks and if so would the property still need flood insurance? This lot is near a creek.