hello all,
i am a newbie so please bear with me on this longg winded question.
I have a list of ppl in NOD. Now say they are $5k in backpayments. I want to make their payments current and do “subject to financing” and then rent to own. Now, what paperwork do i complete and do i have to wait 5 days before they deed me the property? also, when and who do i give the 5k to? Say it takes me 30 to 60 days to find my tenant buyer, am i making their monthly payments?? And, when they move out , i am resonsible for say new carpert paint etc??
Now, with the same situation, if i want to sell the property and do an equity split with the ppl in foreclosure, is the paperwork the same and again if it takes me 30-90 days to find a buyer i am making the monthly payments? Now, this seems like alot of money out of my pocket to get ppl current, or am i missing a way to not use my money. I like sandwich lease options becuase no money out of my pocket, but i want to get into ppl in NOD but dont have alot of money, is this even possible? thanks sooo much for anyone helping me out!!!
danielle
ps sorry i did post this post in the wholesale section on accident :rolleyes