How To Get Them In The Program
I am looking to wholesale properties that are subject to existing financing....
A couple questions.
Do subject to investor buy these deals from wholesalers? If I did get a deal and convinced them that I might be able to help them out in their situation....just wondering ihow in demand these are and if I would be able to unload it to an investor quick.
I am trying to look at it from the sellers point of view...it would be very hard for me to trust someone with a loan under my name (of course if the home is heading to foreclosure...whats the difference if the loan is defaulted anyways) But what are some "lines" that can ease the situation a little and make it easier for them to believe that you may be able to help?
JB
[addsig]
jb,
I have a couple of questions in order to better understand your question.
Are you intending on passing the "subject to" aspect of these properties on to these investors you're trying to sell to?
---OR---
Are the investors that purchase these properties from you bringing new financing to the table?
---OR---
Something else?
If the first option is your choice, your major hurdle would be to convince the seller that you are capable of passing off their credit to a third party. Someone that they don't know. And that this third party will be as trustworthy as you are. They have to trust that you will do what you promise to, if they agree to a standard Sub2 deal. This goes way beyond that.
If the second option is your choice, you will need to leave enough in the deal to make it attractive to investors. As in the thoughts above, not impossible, but a challenge.
If you have something else in mind,please share it further. If you have something new, I'd love to hear about it.