If you just want some quick cash without holding onto property you may want to look at finding a property in need of rehab that has a lot of equity and that you can get cheap. You could assign your contract over to someone who wants to do the fix up and will pay you for your contract.
Purchasing Subject to a mortgage basically means that the seller will keep the mortgage in his name, but you will make the payments on.
I have been following this newsgroup for about four months now, and I have some questions. I am looking at buying on a lease/option so that I have time to find a new buyer, and maybe fix it up a little. Is this a good way to go about it? Is there a better way? I don’t want to hold onto the houses for very long right now. I just need some cash so that I can start in real estate investing full time. Also, what does “subject to” purchasing mean? If you have any other suggestions on a good way to get started, please let me know. Thank you.