HELP@!#
what exactly is a sub 2 deal... Can a sub 2 work if the seller will hold the first mortgage. The asking price of the multi family is 213,000. What would I say to the seller to cinsider this. When You do a sub 2 loan , you take over the payments at the sellers rate???? Im really lost on all of this can somone please help.
Yep, You're lost!
With a sub 2 deal, your objective is to find a seller that needs to sell, or at least thinks that they do. They sign a Warranty Deed, They move out. You move in, or find someone that will purchase via contract for deed, or lease option. You are responsible to make sure that the payments get made. I'd suggest investing in your sub2 education and get a sub 2 course so you don't mess things up.
Jeff
I suggest getting the manual or course from the main man on subject to The Mister John Locke,....Check this link out.
http://www.thecreativeinvestor.com/modules.php?op=modload&name=Shopping_Cart&file=index&c_op=viewprod&prodID=19