Arkansas Sub2
hi, john and everyone else
I live here in arkansas and have just been told the company I work for is moving to Mexico. I have been looking at different things and real estate seems to be my best exit strategy. Anyway, John I am looking at buying your course but have a few questions first.
1. Do you know of any reason why sub2 wouldnt work in Arkansas? Anyone on here from Arkansas using it?
2. I read ( on another site) that if your tenant/buyer rents from you for at least 12 months they woill have no problem getting the financing to cash you out, if the property supports it , is this true?
sorry so long,
a very newbie
wgccomp,
Glad to meet you.
I have students in all 50 states plus, England, Italy, Canada, Germany, Iraq, etc., well as you can see, I haven't found anywhere it doesn't work. The mud huts in Iraq are a little difficult however.
Yes, any mortgage broker worth his salt can get your buyers re-financed if they have made their payments on time. I have seen "D" credit buyers re-finance.
It usually take 1-2 years of a solid payment history. I am not saying they will get the lowest interest rates, but the majority of lenders look for the payment history.
John $Cash$ Locke
Thanks john for your quick reply, I really think this is going to be the way I can support my family when my company goes south.
Anyone from Arkansas or Oklahoma on here, Id love to here your thoughts and experiences with sub2.
I am in the North East corner of Oklahoma and travel frequently to Arkansas. Also, my husband and I own property in Arkansas, in Yellville, about 10 miles South of it.
Feel free to contact me; I do Sub-2 in Oklahoma.
Where are you in Arkansas?
Ladybug
I live in Little Rock Arkansas and have been investing in Real Estate for about 4 years. I have not ever purchased subject 2 the existing financing, but plan on implementing this powerful purchase strategy soon.
David Lukas
Central Arkansas Properties of LR, Inc.