A veteran seller came to us needing a fast close after his tenant left his rental unit in shambles. As we buy all types of properties, this transaction was a “subject to.” Meaning, we took over the property, subject to the existing loan staying in place. As the VA seller was ok with keeping debt in his name while it’s being serviced by us and the renter, knowing this would improve his credit, he was very happy. We took control over the property, paid the seller over $60,000. As he was also in default and behind on all payments we were able to pay his loan current, while in escrow to keep him in good standing, then buy the property as is. This will be added to our rental portfolio as it’s a nice rental unit in a great area.
