I found this deal by cold calling. I got the house under contract in August. I immediately sent it out to my cash buyers. Both of them said the deal was too tight for a cash deal. So I continued to market. So I came back to both of the cash buyers and asked if they would be able to close the deal if I structured it as a subject to the existing mortgage. One said yes. I had to wait until the tenants got evicted because they did a lot of small damages to the house that was beyond wear and tear. I was able to close on the deal on October 26 once tenants moved out.rnrnrn
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How did the FortuneBuilders team and resources help you to accomplish this deal?
FortuneBuilders taught me how to structure creative financing on deals subject to an existing mortgage.