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fozzy
realtor/investor
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good deal or not
Thursday, July 13 2006 08:41 PM
i just met with a seller and he will do a sub 2, i only have to make up 3 grand in payments which i would get first from my tenant buyer but the loan he has in place is adjustable after 3 years and thats coming up. do i do this or let it pass. he doesnt have any equity in the house, but i thought if i could get someone in there to take care of payments i could make something at the end
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E. Olson
Property Management
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Re:good deal or not
Friday, July 14 2006 07:57 AM
Your best be is to run the numbers. If you can cover the monthly expenses compared to the monthly rent then you wont loose money. However, you have to look at how long it will be before you can pull equity out. Unless you keep this one long term, which has tax benefits
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