Posted by KC Questions on July 15, 2002 at 17:41:48:
As long as you have the proper paperwork filled out, you should be okay. As far as paying the seller on the backend, you might want to look into giving the seller a $2500 mortgage. If a seller is behind a few payments on a property, I try not to pay them hardly anything for their equity. Their benefit is debt relief. But if you insist on paying them $2500 per property, I hope there is enough equity to justify it.
Subject to on 4 Properties - Same Seller! - Posted by AdamFL
Posted by AdamFL on July 15, 2002 at 15:13:23:
Hi all,
A seller called me w/ 4 properties (personal residence + 3 rentals) all behind 2-3 payments. Seller is willing to sell subject to existing loans but wants some equity out (not much). A few questions:
(1) Am I taking too much risk by buying 4 properties subject to at once from the same seller?
(2) Say I agree to give $2500 per property to seller once I’m cashed out by a buyer. How do I structure back end payout to seller?
Thanks,
AdamFL