Subject To Sale
I have just completed a transaction that gave me the deed to the property subject to existing mortgage. The property needs about $5K worth of repairs to bring it up to market value, but I've already had another investor call and inquire about me assigning the property to him. Does this happen often? If so, what is a normal profit , dollar or percentage, for such a transaction? Are there any pitfalls of transferring the same property twice in subject to transactions?
I'm new to this area and appreciate all the valuable comments everyone on the board makes.
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