Subject To And Flipping?
I had a question regarding doing a subject to deal. Lets say I just want to do a subject to deal and turn around and resell it to another buyer for a profit. Will this type of method work or do I need to hold the property before I see any sort of profit? I would think this would be ok there is enough equity correct? Anyone doing such deals???
What I would do is option to purchase the property from the seller at a set amount and anything you get above that amount is yours. The optipn to purchase should be for 3 or 4 month with the right to exstend a additonal month just in case the closing takes awhile. Then what I do is run a add buyers in the rent section of the paper, " Rent to Own/ Owner Finance, credit problems OK!" This will give you wide variety indivdual you can pick from. Now you are going to need a finance company that deals with people with bad credit which this is 75% of the market. Here is a company I use ****Must Reach Senior Investor status before posting URL's*** they deal with people with beacon scorse as low as 525 . After you have built up your buyers list you can then pick the cherry's out of the bunch sale the home to. Their are also charity gift companies that will give buyer 6% of the down payment online. Then when you have gotten your buyer approved you may want to sign mortgage purchase agreement , or a sales contract with your seller and make sure the contract gives the write to asign your contract to your buyer at closing. Then you get your buyer to sign a seprate sale contract one that doesn't allow them to go around and make deal with you seller. Also this is the time for you to get the non-refundable ernest money towards down payment of the home, normally it is 5%. Make sure buyers know if they back out the deal they will lost this money. I hope this help you out.
Allen,
I have some buyers with bad credit. Please check my profile and email me with info on the lending co you use that works with 525 credit scores.
Thanks,
Amelia
Allen look at my profile as well and send me the name of your source that dals with 525 credit scores, thanks,,,,,
Allen,
I would like the name of that lending source that lends with a 525 beacon score. I have a lot of potential t/bs in that category. Please check my profile, and PM me.
Prosperous investing,
td
Allen,
I also would like the name and tel.# of that lending source that lends with a 525 beacon score. Please send response to my PM.
Thanks a lot. Elliot.
Allen,
I would also like the information on the lender that deals with 525 scores. Please PM me.
Thanks!
Tania (IL)
Holy smokes. 525....Allen send me the info too. My contact info in my profile.
[addsig]
Allen If you can let me get that information too on that lender that works with 525 beacon scores. Send me a private message would you please. Thank you so much.
Email me (see my profile) and I can help you all out. I know of lenders that can go as low as 500 middle score.
Allen,
Could you also email me url address for the lender you use for the low credit score. Please see my profile for my information. I tried to email you but there is nothing in your profile. -Sarah
What is the name of the source that deals with beacon scores lower than 525. Send to my private message.
yes, please send me the info on both lenders.
thanks,
HB