Newbie has 1st contract need help!!! - Posted by Alexander

Posted by SCook85 on January 08, 2001 at 18:52:11:

Alexander,
You essentially have a deal at market value. It isn’t anything special. But since you do have it tied up, you may be able to assign it to a landlord if the numbers do work out. How did you come up with $150 per month cash flow? I would imagine that most investors, if they had to qualify for the assumption would not do the deal. If you took the deal “subject-to” you will have a much better chance of assiging it to someone else.

You should advertise it in the paper and see what kind of hits you get.

Steve

Newbie has 1st contract need help!!! - Posted by Alexander

Posted by Alexander on January 08, 2001 at 15:25:47:

I have a fully rented duplex under contract for $56K. Market value is about $59K-$61K. It has $150/month positive cash flow. Being that the property has an assumable loan I made an offer for the mortgage balance and it was accepted. What’s the best way to find an investor/landlord to flip this property? I’d be happy just to make $1K-$2K off the deal is that realistic?

Alexander