All Forum Posts by: Milissa Kernahan

Hello,

I own a free and clear property in Philadelphia that is completely renovated and rented to a tenant paying $1250 per month. Looking to pull the equity out to pay off some debts (cash out refinance). Credit score is on the lower end from the debts but still above a 600. Any advice or lenders that lend these types of deals? Any advice is appreciated. 

That was my concern also. Thank you so much!

hello everyone, for some months now wholesaling has been my thing. Recently I came across a deal that in my opinion I can’t wholesale. The owner is VERY motivated. He doesn’t want anything for the house he just wants to get rid of it. So possibly a Subject To deal can be made? I would like to know everyone’s opinion. Is this even a deal? Here are some numbers:

ARV: 140k

Duplex (first floor one bedroom second floor 2 bedroom)

Mortgage owed: 44k

Lien: 20k (from a car)

Averages rent in area: 700-850

Repairs: estimated 15-20k

Also, Is it possible for the owner to negotiate for the lien to get reduced?

I want to Subject To the deal and rent it out or possibly lease to purchase it. But there has been some doubts because of the debt is owed. 

Any type of advice is appreciated!  

hello everyone, for some months now wholesaling has been my thing. Recently I came across a deal that in my opinion I can’t wholesale. The owner is VERY motivated. He doesn’t want anything for the house he just wants to get rid of it. So possibly a Subject To deal can be made? I would like to know everyone’s opinion. Is this even a deal? Here are some numbers: 

ARV: 140k

Duplex (first floor one bedroom second floor 2 bedroom)

Mortgage owed: 44k

Lien: 20k (from a car) 

Averages rent in area: 700-850

Repairs: estimated 15-20k

Also, Is it possible for the owner to negotiate for the lien to get reduced? 

Any type of advice is appreciated!