Subject 2 Or Wrap
I've been reading Investing in Real Estate by McLean & Eldred & have a question about Subject 2. Ideally, I would want to buy the below example Subject 2 and keep the existing financing in place, but if not, would this work Sales Price: $100k Loan balance $70 @5% mtg payment: $374 Down: 5K They write a $95k Wrap Mortgage @ 7% I pay them $628(est). They make $254 each month. SELL I could then either rent this for cashflow Sell again on a Wrap for monthly profit Sell on a Land Contract for profit(I keep title till paid off) Sell on a L/O for a number of years, then have them puchase @ appreciated cost Do any of these scenarios work? I know I have the big DUE ON SALE clause to worry about, but is that the only obstacle & is there any way around this? Thoughts/critisizims/praise/abuse welcome

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