Can This Be Done When Attempting A Short?
Here it is, 1st is foreclosing(295k), second exist(30k), home on the market for 439K. Can I take this Subject to and try to short the seocnd while haveing an agreement to split net profits(at some percentage) after I resell the property. No cash would actually trade hands in my acquiring the property, but would the second be able to come after me if 4 months from now I paid the original homeowner 25K? Thanks! At this point I don't even know if the second wants to play ball...[ Edited by jllaco on Date 02/08/2004 ]
Try to purchase the second via an assignment for a discount. Then, do what you want.