Today, I give you a sneak peek of the first hour of a class I did with Vena Jones-Cox over Zoom. Vena is a really experienced investor and leader of the OREAI National Real Estate Investment Summit. She gives you the details and how to do “subject to” deals, a really creative and profitable way to buy properties.
A “Subject To” is a deal in which you purchase a property subject to the existing loan. This means you have found a seller whose conditions are right for you to take over their payments. These are really unique because the borrower, the seller’s name, actually stays on the mortgage, but you are the one making the payments.
I am sure you’re asking why would I want to make payments on someone else’s loan? How does the house legally become mine at closing if the seller’s name is still on the mortgage? Vena goes over several examples of her own experience with “subject to” deals. She talks about what to look for, when it is the right deal, how to maximize the profit, and how to know the deal is right for you and the seller.
This is a really exciting and creative way to actually help sellers who are stuck and make a big profit. The recording of the entire class is available with membership and you can access the video at joemccall.com/sub2.
Watch and Learn:
Listen and learn:
- What is a “subject to” deal?
- What to look for when making a “subject to” deal?
- How can a “subject to” deal benefits you and the seller?
Mentioned in this episode:
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