Arkansas Sub2

hi, john and everyone else

I live here in arkansas and have just been told the company I work for is moving to Mexico. I have been looking at different things and real estate seems to be my best exit strategy. Anyway, John I am looking at buying your course but have a few questions first.

1. Do you know of any reason why sub2 wouldnt work in Arkansas? Anyone on here from Arkansas using it?

2. I read ( on another site) that if your tenant/buyer rents from you for at least 12 months they woill have no problem getting the financing to cash you out, if the property supports it , is this true?

sorry so long,
a very newbie

Comments(4)

  • JohnLocke2nd December, 2003

    wgccomp,

    Glad to meet you.

    I have students in all 50 states plus, England, Italy, Canada, Germany, Iraq, etc., well as you can see, I haven't found anywhere it doesn't work. The mud huts in Iraq are a little difficult however.

    Yes, any mortgage broker worth his salt can get your buyers re-financed if they have made their payments on time. I have seen "D" credit buyers re-finance.

    It usually take 1-2 years of a solid payment history. I am not saying they will get the lowest interest rates, but the majority of lenders look for the payment history.

    John $Cash$ Locke

  • wgccomp2nd December, 2003

    Thanks john for your quick reply, I really think this is going to be the way I can support my family when my company goes south.

    Anyone from Arkansas or Oklahoma on here, Id love to here your thoughts and experiences with sub2.

  • Ladybug2nd December, 2003

    I am in the North East corner of Oklahoma and travel frequently to Arkansas. Also, my husband and I own property in Arkansas, in Yellville, about 10 miles South of it.

    Feel free to contact me; I do Sub-2 in Oklahoma.

    Where are you in Arkansas?

    Ladybug

  • dlukas3rd December, 2003

    I live in Little Rock Arkansas and have been investing in Real Estate for about 4 years. I have not ever purchased subject 2 the existing financing, but plan on implementing this powerful purchase strategy soon.

    David Lukas
    Central Arkansas Properties of LR, Inc.

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