Buy Homes Subject To (Exactly How)
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- เผยแพร่เมื่อ 6 ก.ย. 2024
- Subject To Real Estate Investing Made Easy - Complete Guide With Paperwork!
The BEST REI Software 👉 wrgo.io/Connect...
📚Show notes 🎁Gifts & more in description.
During this show Jerry Stevens & Ross Hamilton cover the steps it takes to buy homes subject to including attorneys and insurance agents, paperwork required, and finding motivated sellers.
Sometimes real estate deals require creative solutions to make them work. Subject-to transactions can be used when financing needs to happen fast and the seller is open to a “take over payments” type scenario to get their property sold.
If you’re finding but not closing deals, then using subject to transactions can dramatically improve your close rate. If adding more tools to your investor tool box is something you need to do, then you want to tune in to Connected Investors’ ‘Exactly How’ podcast featuring a subject-to pro.
You’ll learn how to creatively structure deals using subject tos, the exact paperwork to use, the pitfalls to avoid and the professionals you need to do your first subject to real estate purchase.
You can find the full detailed plan on ExactlyHow.com.
Want to get into real estate? Not sure how to start?
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📚Show Resources:
connectedinves... - Paperwork.
wrgo.io/Connect... (The BEST real estate investing software)
Connectedinves... (The social network for REI)
Connectedinves... (House flipping APP)
PrivateLenders... (Find funding for flips)
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ABOUT the Connected Investors' founder Ross Hamilton:
Ross Hamilton has been investing in real estate since he was just 19 years old and he has really done it all. Ross has completed countless residential and commercial fix and flips, wholesale deals, he buys and sells notes and makes a killing developing land.
Ross has a rare talent set. Not only has he been very successful as a real estate investor, he has made a very influential name in the tech world as well. Ross has raised and invested millions into tech companies.
Ross is the exiting founder of Connectedinves.... Connected Investors is an investment property marketplace and social network for real estate investors with close to a million members. Several years ago Ross launched a private funding portal, PrivateLenders..., that disrupted the entire industry. His portal facilitates over 3 Billion in funding A MONTH.
He has a unique perspective on the real estate investing market and he loves sharing his knowledge with others.
Want to get into real estate? Not sure how to start?
👉 See It Here: wrgo.io/Connect...
subject to investing - buying houses subject to
![🎤 ไปกันต่อออ! จับฉลากร้องเพลง x P’ #XXSIVK [EP.2] (1/2) เพลงของใครจึ้งสุดน้าา 💓🎤 #MXFRUIT](http://i.ytimg.com/vi/mLI_K0sAS4o/mqdefault.jpg)
5:40 until real info starts
thanks!
Thank you! ❤️
Thank you.
Thank you soooo much!
Thank you!
This one was absolutely great because it talks about " Subject To " type deals which make the deals easier because they are distressed owners who need an out so they won't get hurt because of their financial situation,
21:31 "prices are appreciating, " does the subject to work in a market that the market is not appreciating. Such as a market crash. The down turn lasts about 4 years. Eg 2009 to 2012 until it hit bottom
The main point of sub-2 is ownership and control. If you are buying a property sub-2 chances are you are in it for the longhaul. So whether it's a down market or an up market, as long as it's cashflowing, you don't care. Any appreciation that may or may not come over time is just icing on the cake.
Subject two deals help people in a distressed position, it's quite a creative transaction. Thank you for this information, I intend to be involved in a variety of ways to help others and this channel shares several to do so!
Love what you no mortgage less risk
This is how I definitely plan on accumulating my rentals. Great info especially the part about the extra deed in escrow for the worst case scenario.
Have you acquired any properties this way yet? How’s it going?
its been 11 months.. how many properties you have..
So glad we live in this age. You have the ability to "mentor" so many people. Keep up the good work Ross!
Unplugged on a tropical island, while still making money...that's the ticket. Honesty and transparency is a hallmark foundation. Thanks!
People seem to really love this interview. Jerry brings it.
he sure did
Really appreciate this video bro, a lot “gurus” will make a hour long video and still have you not even knowing the next step to take but after this video I’m definitely more confident in going out and locking up subject 2 deals. Please keep this up 💯
Glad it was helpful!:D
Due to the change in the marketplace, is this technique appropriate? Are the margins too slim since you have to be concerned about people being able to pay rent?
Great to hear both of yalls experience with Sub To Deals.
Is there any more information on how to set up the extra escrow account? I like this idea and think it will help get more deals. Thank you.
Am I protected if original owner on deed decides to sell as equity builds and will that equity be split with me, since I've made payments in order to them to have equity at all? How am I protected? Am I a homeowner 3rd party or just basically a renter....because I'm looking for a home to live in, not turn over
The deed is made out to you on the day of closing, so you are the current owner of the deed and therefore you are the current owner of the property and therefore you are the one whose equity is increasing in the property with each mortgage payment. The debt (the mortgage) is what remains in the name of the seller.
You're now the legal owner, so the previous owner can't sell it......
My feedback is when he was breaking down what a subject too is his internet connection broke up a lot, so I still dont know. He also broke up during the rest of the call.
“Additional Deed and escrow to safeguard seller “ 1. What Bn is additional cost? 2. How is it structured?
I'm still confused, what would be the steps to wholesale a subject to prop? Excuse if this question is redundant, I'm just really new at this?
Once you've purchased the property subject-to, you own the deed on it so that means you own it. So you can assign the deed to another buyer but they will now be responsible for paying the mortgage on the property.
@@jalabi99...... and this deed transfer is a transfer-taxable event.
What is Jerry talking about around 25:00 as far as 6 year and life time term. How was this helpful to the seller or the buyer?
I like how all these videos claim that they are going to show you how. In reality what they do is show what your going to do. Big difference.
The one question I had and waited the whole time for an answer for and his camera froze. The seller gets their equity from the original purchase and the new buyer gets what they accumulated? Did he give the guy money when he sold the property after 6 years? I was unsure what happens to the seller in the subject to's equity when they sign over the property,
Damn he is just like I am, he literally described me.
On and off switch perfect way to explain it
I can work har but when I'm off, I'm just off
And learning is the main thing I do, reading and audiobooks all the time
Feels good to know I'm not the only one
What if sub2 pays mortgage in full over time then what? Is it like leasing a car and buying it twice or will payments go towards down payment or just help qualify to rebuy this home you've been living in?
Once the mortgage balance is paid down completely, the holder of the deed (you) owns the property free and clear.
Once again you all are absolutely awesome. I love these videos and podcasts...I now have a library of the TH-cam videos to reference as I go along...
AWESOME!!!!
Great info. Do you have the right to refi/cash out, or sell the property?
I love this channel, I’ve learn so much. Can’t wait to join. Thank you guys so much. ✌️
WOW! Thanks so much team for breaking it down. This got me pumped and the free gifts Jerry gave away are gold.
How would this work if the seller is planning on buying another home? They are current on payments.
If going to insure the property then you will need money. So, how is this with no money?
Yes, I would like to know can we use private money to reinstate the loans. Also how can I do the double account to protect the homeowner. Great info
To reinstate a loan you just have to send the mortgage company the back payments plus their legal fees. So private money here is more or less people you know. We are talking about $3,500 - $15,000 or so depending on loan. What Ive seen people do is offer their friends and family a percentage of profile if they put up the money to reinstate. Can you elaborate more on the double account question.
Subject To Inestments is a mutually beneficial wat to to help others! This is an oldie but goodie! Thank you!
I always wonder why the seller doesn’t rent it out themselves
Mindset would be my $0.02.
Cannot find the sample paperwork on your website you gave...
Question: can my buyer do another subject to sale of my house and my mortgage keep getting passed around?
I sold my house “subject to” to a buyer in October of 23’. They sold that property in January and I wasn’t informed or contacted. I actually found out because LifeLock notified me my lender changed my address and I was removed from my own account so I had no way of checking. but when I found out the house was resold and deed transferred my agent that connected me to the investor said it had sold and we had no further obligation to the mortgage. But I found out my mortgage was never paid off; I contacted the investor I sold to and he said he transferred our agreement to the new buyer, is this possible? I didn’t see anything about transference in the contract or escrow paperwork and it’s hard to believe that it could be transferred indefinitely without me consenting or meeting new “buyers”
Great Value! Thank You. Is there more information as to the "extra deed" put in escrow for the security of the seller in case something happens to buyer. How does that process work?
THANK YOU! finally a step by step with detail of talk to paper work.
Awesome. Thanks for explaining everything in detail. It's all about helping people. #exactlyhow
When taking over the mortgage payments do you take their login information for the bank account? How would that work best? Is there a video you can link me to?
If you've made the seller sighn a release info form you don't need any of that because it's your property and you could call and set up a automatic payment withdrawal with the bank your self but all of this info would be apart of your sub 2 paper work prior to to taking over any sub 2 property it's really about getting all of your documents in order making a list and you disclose and explain every document and they sign every document
He was cutting out when we started to discuss the due on sale clause agreement with the seller. Can you please advise? Also the documents weren’t on the link.
Great interview !
The due on sale clause is a part of every loan, however the mortgage company has to decide to enforce it. In my experience doing 100s of deals this way, banks rarely call them due unless you stop making payments.
Connected Investors thanks for the reply. I fully understand that. He was about to talk about the seller signing some document that the buyer would provide about the due on sale clause. What is that ?
Do you have any examples of the documents he uses ?
Can you do this with commercial property?? Example: Apartmemts
Every shows brings new strategy! thank you for sharing!
How do I get the paperwork. Signed in, but sent to webinar and not paperwork.
Would this process be the same if I wanted the property for myself instead of flipping?
Most Definitely. If you're able to afford it, then you're able to live in it and not be concerned with looking for anybody else. Takes banks completely out of the equation. The results of the agreement will be strictly between you and the seller.
@@cmosdriver so how do you locate a subject deal?
Does the Seller share Seller-disclosures ( homeowner disclosures) during a Sub-to transaction? Since you're not exactly selling the property, only transferring the ownership via title... is the seller obligated the share any disclosures?
Any way to download a subject to contract? I got a deal cooking and want to practice
I like how Ross ask questions to Investors as he was a newbie. As in if we were there asking them 😄 #exactlyhow
Great information! I’m starting in real estate investing and found you on UTube. Love how you break it down. Thank you. #exactlyhow
So who keeps the equity in sub to
Okay Wow!!!!! this sounds like me too, but then the hardest thing for me is to slow my mind down, I'm a newbie in this business, but I love real estate My first start was with Carlton Sheets given to me back in 97, now I have my licence so how do I do a subject two contract to help home owners?
i so glad already , Even i am new with no money as yet . i believe i will grow with this environment,
CAN YOU DO SUBJECT TO IF THE HOMEOWNER IS BEHIND ON THEIR PAYMENTS 1 OR 20 PAYMENTS
Is it possible to rehab then refinance the subto house and pull out cash to cover back the rehab cost?
Great video. When I acquire the subject to property Can I get it in my LLC or do I have to get it in my personal name?
Safest to get it in the name of a trust that has a third-party trustee who is not related to you and who does not share your last name. Next safest is to get it in the name of an LLC that has a neutral name that does *not* include your personal name in any way shape or form. Easiest but least safe is to get it in your personal name.
I've used trusts on the four I've done. Seller assigns their beneficial interest to me, which IS a transfer taxable event.....
Been listening in via spotify! Love Pin and Exactly How!!!!
D. S. Duenas thanks for the comment! Is there anything you need we can help ya with
Ross another great educational video, thank you for the docs included on the presentation. #exactlyhow
Great Win-Win! Jerry Jams and Ross ROCKS!
Great content. How do you find home owners to assist.
The question is??? What do you do to locate a Seller who will agree to sell their property Subject To????
Just re-listened to this.. Thinking this is a good strategy in this environment
Where can I get the docs?
What if the seller passes away? In relation to the tittle company
can. you be a bit more specific. and here is a great resource new.connectedinvestors.com/fast.
Could you give exactly link for subject to paperwork, if it’s free, of course?
maybe because I have zero knowledge of real estate, it's still hard to understand. I get the concept, but I think this needs more instruction or detailed information
Hello there, thank you so much for your feedback!
How many months are you willing to bring up to date. And is there anyway to verify that if you bring it up to date it is not still in repo?
The sweet spot is that the seller is no more than three months delinquent on the mortgage payments. Since you have the mortgagor information from the seller, you can easily check the current mortgage balance, the current PITI payment amount, and so on.
What happens to the person. Who's paid this whole time, if deed comes out of escrow where do they get out of it except use of the property during that time of transfer? Basically, the person who gets properly under sub2 is just a renter with option to own?
if you file the deed at your local court house you are the owner of that property. If you hold the deed and don't record it. The previous owner is still the owner. If you have all the docs signed, you can record it at anytime and become the owner when it serves you. Subject to's are not a lease option.
This was very informative! Have to try this soon!
#ExactlyHow
This was a great talk! 😀 Are the documents still available? I wasn’t able to open the link.
Yes they are, I also have some contracts available as well!
Thank you for sharing.....info is great for my beginner's business.
Glad it was helpful!
I looked for the sample paperwork and couldn’t find it...?
This guy's a scammer bro body software it doesn't do nothing of what it says it does paid 35 bucks a month for free Craigslist listings that were on the market
@@jeromejames7472 Interesting choice of words. Sounds like you had Deal Dog - A software that pulls together FSBO and auction properties in one dashboard. Have you been successful using any other software. If you are still in real estate reach out to my office. We will credit you whatever you paid toward deal dog to our premium software.
Roger - Here is the paperwork. connectedinvestors.com/blog/how-to-buy-real-estate-subject-to/
Okay boss will do I will be happy with that
Thank you for this video! great information.
You are so welcome!
So hypothetically the seller could put out a hit on you to get the house back, lol!
What happens if the original borrower files bankruptcy
Have done over 100 of these and never had that happen. I would assume since They dont own the property so it is not part of the bankruptcy.
@@ConnectedInvestors please explain "assume"
What $3000 software was he talking bout that he gifted away
Wow I thought I was the only hardest working lazy person on the planet. I'm glad I'm not alone.... But on the other hand great show. There are truly a gazillion ways to win in Real Estate.
Coach Daisha :). People work really hard to be lazy? Have you checked out our free app yet? Https://new.connectedinvestors.com/mobile
Couldn’t you just be added to the existing insurance or do you really need to get your own?
You can just be added to existing insurance.
Wow!! Great information, Ross. Thanks for producing these videos. Know I know #exactlyhow
I know its been a few months. You been watching the channel?
Can't find the notes and presentations. Did you guys take down the page or something??
Here you go! connectedinvestors.com/blog/how-to-buy-real-estate-subject-to/ .
Does it work in Hawaii market ? I live in Hawaii looking to get into creative investing
ROSS... So, how many pina' coladas did you have before you didn't know what you were drinking anymore? - LOL
If you or your entity did not make the payments, couldn't the seller sue for non performance?
Yes they could which is why you should *never* fail to make a payment
How do you obtain Title Insurance if deed is not your name?
The deed is in your name. The mortgage is not.
Thank you great info!
I would like to speak with you
love the video I sign up I don't see the sample
should all be here. connectedinvestors.com/blog/how-to-buy-real-estate-subject-to/
He still didn't say in detail what papers to use.
masterflex27 did you review the blog post
"what are your plans for 2020?" (as I'm watching this in 2020)
Thanks Ross! Shared this with my partner so we can add Sub2’s to our playbook. #exactlyhow
Your link ( ExactlyHow.com ) is not working on my new computer. It says Certificate error & won't let me go to that page.
So how do I get to your page?
The webpage it shows says:
This site is not secure!
This might mean that someone’s trying to fool you or steal any info you send to the server. You should close this site immediately.
great I learn a lot thans
#exactlyhow this is so amazing and I leaned a lot.
its been a month. Did you make any money? taken over any properties?
Tracking The Market no I had buyers fall through last minute right before contract ended.
Thank you for all the information and value amazing.
Thanks for watching! Here's the #1 BEST REI software you need 👉wrgo.io/ConnectedInvestors/65330
📚Show notes 🎁Gifts & more in the description.
How can I get the notes to the subject to exactly how video
why would the seller not just walk away ? what is he getting from this ..... no foreclosure on their house ?
@@dennismedina9191 after Listening to the SUB2 recording, you asked for notes and paperwork , on the how to do it. I'm new but want to get the same information,. Do you have copies or how can I get the sample paperwork? Jerry was not ready to share. Thank you
Are these documents/agreements on the website currently?
@@zibtihaj3213 don’t know if someone already told you. The seller, if they care about their credit, this is a perfect strategy to keep they’re credit intact and not have a foreclosure on it.
How are taxes filed for the person making payments on property.under sub2 ...are we homeowners or not?
If the loan is in your name, then you can write off the interest.
@@ConnectedInvestors but loan is under the sellers name. Right?
@@rightright6582 Yes. Loan never leaves their name. It is important to understand you are in violation of due on sale clause and the bank could call the note due. That happened to me once out of hundreds of deals and all I was able to work though it without having to pay off the mortgage. Either way it takes a LONG time for them to enforce it.
@@ConnectedInvestors this a mess. Then the broker, intermediary, etc , can always ask the seller:
1-can the broker , not really a broker, file for the taxes as She or He is the one paying for the mortgage.
@@rightright6582 As far as taxes go. Ive never had an issue with that. Typically as I am making mortgage payments taxes are included. If not I just send the money in. Plus even if you are behind on taxes it takes a long time for any real action to take place. SO typically id have the property sold. Brokers. I never used a broker on any subject to. If you are a broker there will be other issues you have to watch out for to ensure you don't lose your license.
How can I get a contract for a subject to?
The blog post in the description should have all paperwork. ;) are you part of connectedinvestors.com?
Not many views because sheeple would rather watch music videos😂🤣 Let's Goooo💯
Algarythyms and not many subscribers.
Anyone who uses the word sheeple will not succeed in life because you already think you are better than everyone else.
@@justinarnold84 False.. the reason I used sheeple is because I'm trying to wake people up.. Has nothing to do with me being better than anyone.. "We The People" as whole have to take our rightfully owned rights back.. It's never about me
The audio sucks, would have been a great TH-cam video if not for that.
yeah that was our first show. Its better now ;)
Just received an extremely rude and unprofessional email from one of your representatives. Listened to your 2 hour webinar just to be insulted...unreal....
Do you acquire these properties with a warranty deed ? Do you get title insurance when you acquire them via sub 2 ? Ive heard that title companies wont insure the title until the loan is paid off and that if you dont have an insured title you wont be able to sell it down the road
Nick Giachos quick claim. No title insurance. It is risky. But when it only cost several thousand to get into a deal it’s worth it. A good title search is key.
Connected Investors is there a way to do it via general warranty deed ? And how do you sell these properties down the road when theres no title insurance. Wouldnt this scare buyers away?
Nick Giachos you can get any type of deed you want. So to answer your question. Yes. When you resell to someone getting a loan everything is “cleaned up” bc the old loan that you took over is paid off and it is a normal purchase. Nothing for the seller to be scared of. They don’t even know you have it subject to.
I’ve done it with warranty general deed and was successful. Try it !!
You mean I don’t have to pay 10 grand?
Very interesting #exactlyhow
been doing this for years, just need to do more and it is a win/win for everyone.
Bob you said youve been doing it for years i have a question for you .. im new and sooo with subject to you will need money to pay back pay of mortage so if your new and dont have that cash you wont be able to do it right?
@@lisapierce1761 partners-more success with numbers. We need to present the deal to partners that make it a win/win. Win for the seller and win for your investment group. strength in numbers-which is not easy getting a good investment group together.
Bob do you use an LLC or a trust (I've used trusts on 4 occasions....) and the reasoning for your preference?
I have used both and get an attorney that knows the rocess@@Zuddybuddy
#exactlyhow thanks