I have a question for those of you who have done alot of sub2’s. What is your standard amount of equity that you want to have in a property to do a sub2 deal?
For example… if a house is worth 700k, and the seller owes 500k… say the seller wants X amount of money for their equity.
What is the most amount cash that you would give to him at closing to do this deal?
Also… what is the most amount of cash that you would give to him at closing to do this deal if he agreed to carry back the rest in a note… no payments no interest… due when you sell?
PS- The medium price in my area is 500k… so a 700k house is pretty normal.