Possible Deal!
Hey gang....what do you think...I mentioned doing a subject to deal and they said they would be interested.
appraised value: $105K
loan balance: $73K (1st only)
payments: $800 PI
3 bed/1.5 bath
1000 sq. ft.
3 months payments in arrears.
Want to use it as a rental property. I would re-fi as soon as I am able.
What do you guys think? [ Edited by suntzu18 on Date 03/22/2004 ]
Why was the appraisal performed? Appraisals don't always represent FMV. Find out what the real FMV of the property is.
Don't know your market, but if the monthly only covers P&I and not taxes and insurance, you'll probably have a tough time renting it out for what you're putting into each month.
Roger
"Interested" and "done" are not the same thing, go get it done.
Hey gang..this one was snathced up pretty quick, but I have since run across another one about 10 threads down....anyway you could look over it and tell me what you think?
The topic is in this "subject to" forum and is titled "subject to deal...question""
I greatly appreciate your expertise.