Preforclosure Contract???
The owner of the property just wants me to start taking over her payments (including this month) and then just give her a bit of the profit after I rehab it and sell it.
Q#1. What kind if any contract do I need to write up?
Q#2. What is a fair percentage for her as she is not asking for anything now.
Thanks J
Preforeclosure, rehab, back payment, including this month, and they want a piece of the profit..... You are stepping in to save it and they want? What's the ARV and payoff now?
First of all, sorry I just realized I'm in the wholesale forum instead of the preforeclosure.
The payoff amount is 92k and the ARV is 138k.
-J