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
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.