Posted by phil on March 10, 2006 at 23:06:00:
This ain’t theory, that’s exactly how yur supposed to do it.
would this work for sub2. anyone done it before? - Posted by pat
Posted by pat on March 10, 2006 at 21:52:24:
Hey i was just wondering if this theory would work.
take over payments sub2, before the next payment is due… market and sell the
house to a tenant buyer so you can pay the arrears and start collecting monthly
payments.
any feedback?
Re: would this work for sub2. - Posted by Equity Hunter
Posted by Equity Hunter on March 11, 2006 at 23:08:41:
Usually there is more to it than that. Repairs. Advertising. Tenant buyer. Hmmm. = Little Money. Run a fake ad for tenant buyers in your area. Ask them how much dinero they have.
would this work for sub2. anyone done it before? - Posted by stan
Posted by stan on March 11, 2006 at 24:35:23:
It sounds like you have absolutely no money. Having done dozens of Sub2s, I will advise you to not get involved with this form of investing until you have a reserve of six months payments. If things go sour you will put the screws to yourself and the seller, who can sue you if you can’t perform as agreed – something the gurus don’t tell you.
stan