First Sub 2 In Georgia
I'm working on my first deal and trying to decide if sub 2 is the way to go on this one. The property has comps in the $110k-$115k range and is in the forelcosure process. There is roughly $20,000 in equity in the property and the seller is very motivated for several reasons. The house needs minor repairs of less than $5K.
My two options are a cash purchase or a sub 2 with obviously less cash out of pocket. My concern is on the sub 2 are there more risks involved because the property is in foreclosure? Also, how do you obtained insurance for the property in a sub 2 transaction?
I appreciate your time in reading and replying to my post!
Comments(0)