Best Structure for a deal
I've got one on the hook.
House FMV is 204k
Loan Bal as of today is 181k
Owner want's out. Lender wouldnt accept my short sale offer of 151k stateing hat FNMA would only do 92% of FMV. I'm dealing with LSI.
They are willing to do a subject to deal but I would be assuming at 181k on a 204k house... a flip doesnt make sense.
I'm favoring "subject to" and get a tenant or lease option?
Or should I walk on this one!
Any imput would be appreciated...
The Humble Ellihue2 
Sorry about the typos... Watching CNN and forgot to proof read my own post!
Hi ellihue2
Sounds like a good ‘Subject to’ deal to me. Why don’t you just resell under a Contract of Sale/Deed, get $10-$15K down, $200 month cash flow and another $20-25K on the back end.
If you need help on the deal, just ask..
Best of luck
John (LV)