I have the opportunity to take a rental property subject2 with a tentant already in place interested in purchasing by the end of the year. I will just pay an assignment fee.
It has been completely rehabbed. What due diligence should I take to make sure this is good to go?
Title search?
Inspection and Appraisal?
Copy of the lease?
I want to make sure I dot the i’s and cross the t’s on this one.
You need to start with the basic math - will it cashflow?
Keiht
loveshack,
Glad to meet you,
Just so I understand, an investor took over a property Subject To and this investor will be transferring the deed to you with a tenant in the property for an assignment fee, is this correct?
John $Cash$ Locke
The investor bought the property, rehabbed it and now wants to offer it subject2 through a wholesaler for an assignment fee. I plan on taking it over subject2.
A tenant with good credit is already in place and interested in purchasing at the end of the year.
80k loan balance. 125k value Currently a $375 cash flow.