What does buying a house “subject to” really mean? After all, there are all types of subject to clauses one can put into a contract when buying a home. This includes subject to attorney review, buyers inspection, finding a quality resident (as in a lease-option), or as we’re referring here, the existing mortgage. Can an investor really just take over someone’s mortgage payment on their original loan, and have the deed transfered?
But why wouldn’t the seller just sell the home? Why would they give up equity or title? Why would they jeopardize their credit?
It seems to make no sense, but there are reasons why a homeowner would just hand over the deed. Unfortunately, bad things happen to good people, and sometimes they get themselves into tough situations or they just plain run out of time.
If this sounds like Thor's magickal hammer for acquiring properties, IT IS!
BUT, there is a time and reason to use such a tool, and there is no one better to show you how to use that tool than William Tingle.
For over 10 years William operated a real estate business where he wholesaled and rehabbed numerous properties each year but found his real niche in what he calls “Sub2”, buying subject to the existing financing. To date, he has taken the deed on over 500 properties and even though he “retired” in Belize in 2010, he still continues to buy 20 to 25 properties a year in this manner in select markets throughout the United States.
William will be teaching "The Secrets Of Subject-To" at BIG Chattanooga, Thursday, February 21st via Skype. RSVP NOW and learn:
RSVP NOW on Facebook or on Meetup and join us on Thursday, February 21st at 5:30PM at Wally's Restaurant located at 6521 Ringgold Rd in East Ridge, TN. You will get to ask questions directly to William and get answers. If YOU have successfully accomplished a Sub2 deal or two, come tell us about it! Network with other investors and build friendships and relationships for each others success. Be sure to have a delicious supper from the menu or from the buffet at Wally's Restaurant. DO NOT MISS this event!! RSVP TODAY, and We will see YOU at BIG Chattanooga!
Have you been a “real estate investor” for several months or even years without doing your first deal? What is holding you back? Fear? Lack of money? Credit Problems? Lack of Focus? Are you afraid you will screw it all up?
Why make such a big deal about your first deal? Well, it’s the hardest deal you will do, but once you get through it, your belief in yourself and real estate investing will rise dramatically. You will be on your way to becoming a true real estate problem solver.
BIG will have experienced local and regional investors speaking and leading interactive exercises on relevant topics on a beginners level. So please join us on the 3rd Thursday of every month. Arrive around 5:30PM so you can get some delicious food at Wally's in East Ridge.
The Chattanooga REIA Beginning Investors Group (BIG) hosted by Alan McDonald, is an educational and networking special interest group for new investors who are just getting started in real estate investing as well as “new again” real estate investors who’ve taken a few years off and are looking to get back in the game. BIG is hosted by Alan McDonald, who will be bringing in local and regional real estate experts to teach new investors how to survive and thrive in our ever changing economy and real estate market. The entire purpose of this group is to inspire and eduacate new investors to get their first deal and help new again investors get their next deal!
The Beginning Investors Group meets on the 3rd Thursdays of each month from 5:30 PM to 8:15 PM at Wally's Restaurant located at 6521 Ringgold Rd, East Ridge, TN just off of I-75 at Exit 1. BIG is FREE for Chattanooga REIA Members. Guests and Not-Yet-Members will eventually pay a fee, but for now, there is no charge for anyone that attends. This is a “dinner” group and we kindly request that you buy dinner and/or drinks since Wally's allows us to meet there. There will be lots of learning and lots of networking. Bring your deals and your haves, wants and needs to the meeting for discussion.