In a subject to deal is there a way or a system to keep payment records to appease the homeowner? Second, how does your tenant-buyer increase their credit score while they are in the house? Is there some way to have their payments count on their credit? Or some documents which are accepted by banks which will show the tenant-buyer has been making continual payments?
Kellenhomes,
Glad to meet you, I briefly cover how to handle the payments that will appease the seller and show a record to the mortgage company or bank on how they paid. Loan Servicing Company is the keyword.
http://www.reiclub.com/articles/sub2-beginner-investing
John $Cash$ Locke
Thank you for your response Mr. Locke. The article was very informative. I do have another question. How do I determine which LSC to use? From doing a google service I see a number of companies offering this service.
Kellenhomes,
The following company has always done an excellent job for me. Even though they are located in Las Vegas it does not matter, as loan payments are sent in to various locations throughout the U.S., not necessarily in the state where the property is located.
You can go to their site and check out the services they offer.
http://www.loanservicingcompany.com/
John $Cash$ Locke