Possible Sub2?
I found an ad for a duplex, the text is:
Creative Financing Available. I am upside down on the loan to value. Willing to trade, owner finance, gift for down payment to make appraisal amount for loan. You tell me what will work. It is a 6 Bed 2 Bath up down duplex. Well maintained. Positive rental history. Make me an offer. NEED TO SELL ASAP!!
Is it possible to work a sub2 on this deal or what other options can you suggest?
SUB_ 2 S are being done still !!! In some places more then others They are not that easy to come by as the sellers have to be a in most cases in a tight spot . The seller must need to sell and fast for what ever reason ,and the fsbo is not getting it and neither is a realtor The main point to this is you are not going to find them by a realtor as a rule but by your own diging and putting the word out on the streets so to speak The word being i am buy homes and can and will close very fast
Sellers are not the problem at all. I get tons of calls almost daily from people begging to take the house.
It is the loans and the underwater houses that are the issue.
You have to be VERY selective when doing a deal.
John (LV)
How are you getting loads of people calling you ?
As i do not get alot of calls people begging me to take there homes What kind of adds are you doing / could i see what you are doing ? As i would love to have my phone ring more
diegoJ nailed it.
It is getting your name out there that this is what you do.
Then after a while the referrals will kick in and that is when it really gets fun.
John (LV)