All Forum Posts by: Cody Steck

Look forward to seeing the future progress on this. Great find!

I really liked this post. I thought it was insightful and a good way to think outside of the box. It seems like everybody wins. Good thinking, Ryan.

If you do get to foreclosure, I am assuming that if you want to take FULL control of the property you, as the tax lien holder, would also have to pay off the existing mortgage right? 

How does this work?

Ahh, very nice

I looked through that tutorial and it says that in order to use this option for an investment it must be a single unit. Is this true @Justin Green or will your duplex be eligible?

So you actually can do a sub2 on a house that has an FHA loan? I'm assuming this puts all of the "owner occupied" risk on the seller?

@Hattie Dizmond  I didn't think about the tenant part of it. That's good information. I think the combination of those things should definitely cover me enough. Thanks!

Any tips on this?

Depends on what you buy it for, how much value you can add, and if the market appreciates any (if at all). 

@Joe Villeneuve has good insight on these kinds of questions.

You can get a credit from the sellers to go towards closing costs to offset that cost. Or why not just ask for a lower purchase price? I understand you don't wanna use your own cash for repairs so shoot for a credit to reduce your closing costs/down payment.