Check out the subject to forum on the Residential side of this site for a ton of information on sub to deals- click on the blue tab, upper left, then on "Forums".
Many people use this method, although some have concerns about the due on sale clause included in many mortgages. I bought my first rental this way, although I wound up refinancing it because I was concerned about the DOSC with rising interest rates. The only problem I had with it was that it was harder to find a lender to do the refi than it would have been to just purchase it initially. But I was able to fix it up and rent it out, so it appraised higher and I was able to pay it off with a 80% LTV loan, which saved me from paying PMI.
Check out the subject to forum on the Residential side of this site for a ton of information on sub to deals- click on the blue tab, upper left, then on "Forums".
Many people use this method, although some have concerns about the due on sale clause included in many mortgages. I bought my first rental this way, although I wound up refinancing it because I was concerned about the DOSC with rising interest rates. The only problem I had with it was that it was harder to find a lender to do the refi than it would have been to just purchase it initially. But I was able to fix it up and rent it out, so it appraised higher and I was able to pay it off with a 80% LTV loan, which saved me from paying PMI.
Chris