Saw this ad posted, but dont quite understand the own for $15000
Investors - For $15,000 you can own this home that was recently appraised at $340,000. You simply take over the payments.
I have a beautiful, almost new, 2700 sq ft townhouse outside of xx,xx I bought sub-2 last week. I’m going on vacation in August and don’t have time to properly market it to sell or rent. It has $25K - $35K worth of equity and is in excellent condition.
If you’re interested email me and I’ll send you more information including the address and pictures.
Note: I prefer to deal with real estate investors because they will be familiar with buying and selling homes ‘subject to the existing financing’
Looks like they are trying to wholesale this to another investor and their assignment fee is 15K.
Nate-WI
I thought the same, untill I read these 2 statements.
"Note: I prefer to deal with real estate investors because they will be familiar with buying and selling homes ‘subject to the existing financing’ "
and
“I bought sub-2 last week”
You’d pay the investor $15,000 for his equity of 25-30k then take over payments on the existing financing. Sounds fishy that he bought it 2 weeks ago with the same financing and it now trying to dump it. Be cautious.
Still sounds the same to me. The guy bought it sub-2 and wants to deal with someone who knows the ins and outs of sub-2 investing and not a “normal” buyer who doesn’t know what this type of investing is all about. He’s basically looking to assign it and get his money for his vacation.
Nate-WI
Ok, that sounds true. Thanks