Why Would A Home Owner Agree 2 SUB2
I hope this isnt posted twice... Please pardom me if it does.
I have a list of question......
1. Why would a home owner agree to a sub 2 deal? What motivates a seller to do this instead of sell or using his/her prop as a rental?
2. Does the home owner profit in ANY way?
3. As a REI after obtaining a home sub2 what is your course of direction; do you flip the property or is it better to use sub 2 props as a rental?
4. Is sub 2 dealmaking the ideal REI entry for a person short on cash/credit? Also is this a good way to buy a first home or deal yourself into a bigger more expensive home?
Thanks for reading
Sub2 does not have to be a no or nearly no money down approach to acquiring real estate. in its most basic form, it could involve a down payment, and a second mortgage with owner financing and a balloon payment. The basic difference is that it as a way for you to acquire real estate without getting rid of the existing financing when you do it.
The great no and nearly no money down deals come when you are dealing with anxoius sellers. Regardless of why, sometimes sellers are convinced (right or wrong) that they need to get out of the house right away, and are willing to do things that you might not consider to be reasonable. That's when the best deals happen.
Hope this helps,
Jeff