Seller: Out of State and owes $140K, wants $144K.
Property: 4/2 with 2300sqft in one of the best neighborhoods in town with a value of $178K.
She is willing to do anything I say to get payoff plus $4,000. Can she give me a 2nd mortgage on the property if I sell it for her, rather than me doing SUB2?
What’s the easiest route for me to get the equity out and give her that $4,000?
If I understand are you just looking to sell it and both get a profit? Her’s being payoff of loan and $4K.
Get it under contract w/ the right to assign and move the property all day long to a retailer buyer or move it to another investor cheap for an assignment fee.
why would you not want to take it sub 2?
if you really don’t want to do that probably getting a straight option on it and try to reatail it or whole sale it. Just make sure on this as I’m still a newbie.
I would find out how motivated she is to see if the 4,000 is a must.with her being out of state and depending on her situation I would think that you can negotiate a little less than that.
Good luck and God bless.