Sub-to ??
Hello Everyone,
Could someone let me know if this isn't a sub-to case. Lets say someone wants to sell there house really fast, and they still need to pay 130,000.00, but they bought to house for 170,000.00 When in that case you pay off there payments (130,000) with hard money or your own funds. Then the house is yours, and you make repairs if needed and then sale it? And if this isn't a sub-to, could someone let me know why not and what is.. John Cash I live in Daytona FL, I would love to meet you in Orlando FL!
Lance 
LJT,
Let me GetThisRight....
They bought the house for $170K and they owe $130K and YOU can buy it for $130K.....
AM I RIGHT?
IF I AM...
BuyIT&SellIT..
and make about $40k
....as always,
GoodInvesting, Rocky
LJT,
This is not a Subject To deal the way you described it.
If you leave the $130K loan in place and get the deed from the seller then this is a Subject To deal.
Now you sell the property for full value, you have not come out of your pocket with $ nor used your credit to purchase this property. You also save this way on points and other charges with getting a new loan.
This would be my first approach on a property like this. Once I get title to the property then there are other ways to go either creatively or conventionally.
If you are in Orlando when I am there no problem in saying hello to one another.
John $Cash$ Locke
Is seasoning going to affect the way you sell this prop?
Are you going to sell on Contract for Deed until seasoning has been achieved?
Seasoning has no bearing on a Subject to deal as there is no new loan because this is owner financing for our purchases.
In addition, we have a 24 month requirement for our buyers to refinance so this also is not affected by any current seasoning requirements when we resell.
Best of luck
John (LV)