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Hello, I’ve read a lot about the assignment of a loan or about transactions like Sub2 - “Subject to” - but can someone explain to me how you bypass the ban on assignment specified in the loan agreement? After all, the bank may demand to instantly cover the entire loan - and if you do not do this, will this property be taken away from you through bankruptcy?
ОтветитьHow do you vet the buyers of your SubTo deal? What happens when you have to foreclose on them?
ОтветитьAmazing Contant and very informative. Thank you for sharing.
ОтветитьHey Rick I’m new this is my first video from you, is there a contract you have for us to use for “subject to”.
ОтветитьLets say you seller finance / or rent out and in 3 yrs you want to cash out and sell the Sub to - to the rent to own tenant or another buyer.. what's teh process to be able to sell the sub to prop?
ОтветитьNobody can become financially successful over night. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals.
Ответитьwait won’t we have to make a whole contract for subject 2 then?
ОтветитьExcellent 🎉🎉🎉. Such a blessing to have you brother. ❤❤❤
ОтветитьThings to be considered but not covered is the loss of the previous owner's homestead exemptions. This could double your taxes if you have to report it as NON OWNER OCCUPIED. This will shoot up the Escrow. Then the next thing is the insurance which will be different if you are planning on renting it out.
Ответитьf I get a Deed from a subject to property can I still qualify as a first time home buyer for a mortgage loan ?
ОтветитьThe mortgage payment is calculated over 30 years typically and the payment is based on 30 years. Most of the payment goes to the interest in the beginning because he principal is higher in the beginning. Ten years into the mortgage you are still paying based on 30 years but there are only 20 years left. This is why a higher amount is going toward the principal - you have a payment based on 30 years but there are 20 left. This makes it seem like things are getting paid off sooner.
ОтветитьWhat if the buyer doesn’t end up paying the remaining mortgage?
ОтветитьAbsolutely amazing!! Thank you so much!
ОтветитьCan you make a video about subject 2 in Texas. The common objections in Texas.
ОтветитьPrinciple, Interest, Taxes, Insurance (PITI)
ОтветитьRick, you are in which state? I am interested in exit strategy interms of California state.. For example: I want to keep unit as Rental after buying Subject to and after paying off entire mortgage to seller after X years, what if Seller says he changes his mind and ask for the house back, what kind of leverage we have? I feel like we are in mercy of original seller
ОтветитьSince subject to keeps the mortgage in the seller's name, how does it work once you have equity? Since you technically own the house, do you gain equity? I'm getting stuck on how it shows on an asset. Is this done through a service company?
ОтветитьI have a opportunity to take over a home sub to with motivated seller … they owe 150K left. What do you think is a good way to structure this deal?
ОтветитьExcellent information with no BS. Thank you for this great content.
ОтветитьGuess , if u use it as air bnb or midterm rental … do u , Refi it asap if the interest rates work and get the owner outta equation?
ОтветитьThank you Rick for sharing these tips with so much clarity!
ОтветитьHow do we find these houses??
ОтветитьThank you
ОтветитьWhere do you find sellers that are willing to do a subject to deal.
Should I go to a Bank of realtor?
Is that a bio cube in the back?
ОтветитьRick, could i satify a 1031 with a subject-to purchase?
ОтветитьAnother really really Goode one..thank you..!
ОтветитьHello, if exit strategy is to sell to cash buyer will it be their responsibility to consult a Real Estate Attorney or mine?
ОтветитьYes love this information on subj to!! Thank you
ОтветитьNeed some assistance, trying to do a subject to deal and the agent I believe is new and thinks it’s an assumption. I’d like to talk to you or someone else in regards to just taking over the mortgage payments. Thank you for this video!!
ОтветитьThis is a good idea to acquire properties but how do you get around the due at sale clause to take over the deed to the property? Also can you do this without making a down payment or getting a mortgage?
ОтветитьMost subject to will have upfront cost to it right? Since most people who would want to get rid of property are in a time crunch so they can’t use a realtors and they might be losing the house .
To get the Loan re instated if they are behind on payments, repairs and closing costs wouldn’t all that be upfront costs to the investment? I don’t think you covered that in this video
He Rick Do you have any step by step script on Subject to(I am trying to get my first property Subject to, (I want to be able to move into it.
Can you please help me with the script?
Hello Rick, how do I access and fill out subject to paperwork? Thanks, Noel
ОтветитьHow do you find these deals?
ОтветитьDo I take over the deed as well?
ОтветитьHi, any possibility we can connect for a 1 on 1? perhaps a zoom call?
ОтветитьOnce the deed is in your name can you refinance and pull cash out similar to the brrrr strategy? Or is subject to only for cash flow purposes only
ОтветитьHow can we switch the deed to our names if the bank has it? Please if you can clarify that part will be greatly appreciated.
ОтветитьCan I do this in California?
ОтветитьWhy does arrears be so high? What are some reasons for this?
ОтветитьIn my area it's a dollar per sqft
ОтветитьThank you
ОтветитьThank you very much for breaking it down!! I laughed because I kept pausing your video and rewinding 10 seconds for like an hour so I could write EVERYTHING down!! I completely understand and now that I know what it is, I have to learn HOW to sell it, the idea of creative financing. Thank you my brother 🙏🏼
ОтветитьCan you live in a subject to as a primary residence?
ОтветитьQuestion: what happens to the sellers equity in a subject to deal? Don’t they expect you to pay them for it? Or are they typically walking away from the equity? (Seems like if they have low equity you could pay them cash but if they have a lot of equity I don’t see how you could pay them in cash — how does this work?)
ОтветитьWhat if they've owned the property for about 20yrs but only have 6% equity due to multiple refis? Would that be a bad Subject to prospect? And if not, how would you navigate through that deal?
ОтветитьWhat if the people still live there then what
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