Confused
When doing a "subject to", who has the responsibilty of maintaining the mortgage? How do you find a buyer fast enough so that the extra mortgage payments don't kill you, especially when there are so many homes for sale in the area already? Do you already have the buyer lined up before doing the "subject to" deal?
I'm very confused by this type of investing, are there any simple clear guidelines anywhere to get the meat of the subject?
Thanks
You are responsible for all of the mortgage Payments from the date that you agree to be responsible for them. If you are not prepared to make the payments until you find a qualified Tenant/buyer or buyer for the property then you shouldn't do the deal. That gives the rest of us a bad name.
Good luck,
Jeff
Hi DKRoff,
The great thing about real estate investing is that there are a host of options available to you. Some are require cash, some dont. They most effective way to make money with real estate is to specialize in 1-2 ways of purchasing and stick with it. Specialize in Lease Options, Subject-To, Preforeclosures, Sheriff Sales, etc. You may have to invest some dollars to educate yourself in these specialized areas, both you will find that it is well worth it. Best of Success!
BAMZ