Handling Distressed Property
I would like to use your services in the future, particularly in flipping properties to you, but first I have a few questions and concerns regarding puchasing distressed property:
1)Some people say it is better to offer the remaining balance to potential sellers when buying.
2)Some say that you should offer to buy out their equity instead.
3)Some say you should offer to buy only half their equity.
4)If they have a lot of equity, do you offer to buy out their BALANCE as opposed to if they have a huge balance, offer to buy out their EQUITY?
This is in addition to buying subject to existing financing. Now i know some say you should just offer them uhaul money. However, a lot of books I read say otherwise and that you should offer them their equity or remaining balance. Such books include Cash Locke's subject to manual and flipping properties by william bronchick and robert dahlstrom. Please help, thank you very much for your time.
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