I’m not gonna lie Jerry, you didn’t have to do this. Gave us a whole live call/script, subto and creative contracts, and access to have our own transaction coordinator 😮💨 you blessed TOO heavy on this vid. I’m taking action NOW
I took away that you guys were able to get the seller out of hot water while they get the cash out of escrow. Also was able to explain the process easily for the seller to understand & as the buyer yall made an amazing profit
That hit on all notes and covered the bases that anyone you pitch would ask! Great!!!!! Mention of the transactional coordinator was key to setting the seller at ease. I am preparing to approach hurricane homes in my area because I have the only way to repair the homes with my system. SW Florida. Worldwide Diversified Associates LLc
Great call! At no time did I feel the seller was being handled. Authenticity came thru in this conversation. The seller now has a solution with a thorough understanding of what he is agreeing to. Also, a TC will be a must have going forward. Priceless info. Thanks for sharing.
Your 20 or so years of talking to sellers really show here. You are relaxed, confident and very knowledgeable and the seller picks up on that. BTW. I can barely hear you. Your student/partner should have handed you the phone and let you handle it. Just sayin'. Thanks!
Two questions: 1) if you wholesale it, do you ideally set up the servicing first then sell it? 2) If you wholesale, is there a way to make sure the end buyer is only allowed to rent it or flip it (no wrapping)?
Understanding how any transaction process works gives you the ability to be a problem solver for any situation. I believe this comes with experience, yes? Would getting your real estate license & going through the classes teach you some of theses tools? Is getting access to the cash for This deal based on the asset or is that cash you already had built up from other deals making profit? I want to be a flipping genio problem solver like you.... many blessings be upon you, thank you ✌
well explained how to wrap up a deal, i want to learn that, i have a question how do i get fund if i dont have money for giving seller money and closing cost or any rehab the house might needed it.
What 3rd party services are you using to pay the note? And how is insurance handled, will that need to be in the sellers name as long as the loan is in his name still?
Prior to Having an Appraisal, Whats the Reasoning For Why Home Remodelers Make Offers to Loan Sellers or Home Sellers Without Making Mistakes That Waste The Appraisers Effort, Dont You Need Pricing Data in Advance to Make Offers to Know Your Breakeven Cost & Your Net Cost to Net Profit?
That deal was awesome Jerry! I’m not sure if I’m evaluating my sub 2 deal correctly. My seller has a agent and I work with an agent that brought me this potential deal. Seller is over priced on market and has been sitting for 145 days. His property needs a full rehab at 90k and ARV is 306. He’s listed at 199k & has a existing mortgage of 165k with 3.2 interest, lien for 3400. The house rents for 2100 a month. I was thinking I could seller finance his equity and do a referral fee for my agent but not sure how to handle his agent or if this is a deal.
great video and very insightful- one question- does not the deed pass over to you guys in a sub2? So if you walked away the past owner would not get the property they would only still be responsible for the loan. Or does the title not transfer over in a sub2 closing?
Jerry, who can qualify to be a persons transaction coordinator for paperwork...just a title company person? Whats a good way to find someone and qualify them? Thanks
Jerry you’re a flipping genius..literally the 🐐. Question, do you have the Power of Attorney discussion with the seller or have your attorney do it when he’s closing the transaction? Thanks for providing so much valuable content
@@FlippingMastery Hey jerry, I just started my wholesale journey. I want to know what areas (state of preference, zip code, low or high income neighborhoods and ARV) you like to buy in so I can bring you more deals. How do I contact you?
I learned a lot from this video the explanations were very clear. It felt different because me and the seller have the same name lol but My question is when jerry was talking about getting a payoff letter from the seller what did he mean by rears?
Go Here to Get Full Service Closings (transactional coordinator): www.constantclose.com/flippingmastery *Once you enter your email, it’s automatically emailed to you. If you don’t see it, check your junk/spam folder in case your email provider put it there...If you still don’t see it, my team can help you out. Support@flippingmastery.com
Most people selling their home have been living there for more than a few years and have an interest rate well below current rates. I'm curious why is not more common for sellers to be open to accepting an assumable mortgage offer, in order to maximize their own profit? I get the felling that these types of deals are uncommon and ideally targeted to distressed sellers. Also if this seller is distressed then is the risk greater that you will need to evict the seller if he takes you up on the rent back offer? I'd wonder if the distressed seller-now-renter would make another poor life choice by choosing to get evicted instead of honoring his contract (which he has a past history of non-payment already) and getting his $5k out of escrow. Of course if it only cost ~$5k for an eviction that it's not a problem.
You did lie to him about getting another mortgage in the future. As long as he has that mortgage on his credit report. FHA will always count that debt against him. A conventional loan after 12 months might be his only chance.
Hard to hear- silly jump cuts, why would you zoom in on fist bumps with silly sound effects- and you zoomed in on Pedro drinking a soda at 6:51... what is this??
Biggest takeaway is the conversational tone in explaining the win-win and answering the seller's question that leaves him with 100% clarity
Seller has a lot of motivation & Jerry is giving him $5k , he’s ecstatic.. cuz , subto saves his credit , so he can buy another property in the future
I’m not gonna lie Jerry, you didn’t have to do this.
Gave us a whole live call/script, subto and creative contracts, and access to have our own transaction coordinator 😮💨 you blessed TOO heavy on this vid. I’m taking action NOW
👆.
Did you take action ?
Love how Jerry addressed problems with the Seller
I took away that you guys were able to get the seller out of hot water while they get the cash out of escrow. Also was able to explain the process easily for the seller to understand & as the buyer yall made an amazing profit
@Jasmine Enimsaj 👆
Ok
I know Pedro he's a great guy very happy for him! great job!
I like how y'all kept it simple enough for the seller to understand without make him uncomfortable
I'm new to the field
1:05 Thanks Jerry. Very great script
The beauty of negotiating right!!
Wanna become like you Jerry, I'ma keep watching as long as you keep posting!!
You made that look so smooth, man! Great presentation gents!
That hit on all notes and covered the bases that anyone you pitch would ask! Great!!!!! Mention of the transactional coordinator was key to setting the seller at ease. I am preparing to approach hurricane homes in my area because I have the only way to repair the homes with my system. SW Florida. Worldwide Diversified Associates LLc
That was pretty awesome. Overcoming those objections is the key to Sub2.
@Luke Mitchell 👆
Jerry youre a F***ing genius God bless you !!
Great call! At no time did I feel the seller was being handled. Authenticity came thru in this conversation. The seller now has a solution with a thorough understanding of what he is agreeing to. Also, a TC will be a must have going forward. Priceless info. Thanks for sharing.
Ohhhh WhatApp is scammers. Thx for the warning!!
You make it look so easy!
Your 20 or so years of talking to sellers really show here. You are relaxed, confident and very knowledgeable and the seller picks up on that. BTW. I can barely hear you. Your student/partner should have handed you the phone and let you handle it. Just sayin'. Thanks!
Outstanding work gents! Soild rapport and I loved how you guys came along side of the owner and explained everything!!
Which third party company do you use to show he’s making payments for his future loan?
Great stuff 🎉 Love it ❤Thank you 🙏🏽
Pedro you are a flipping genius 🎉🎉❤
Two questions:
1) if you wholesale it, do you ideally set up the servicing first then sell it?
2) If you wholesale, is there a way to make sure the end buyer is only allowed to rent it or flip it (no wrapping)?
Awesome content! Thank you for explaining it all in detail and doing the live call. Amazing!
Great video! Jerry is a flipping genius! It seems like a lot of moving parts, but the key to making this work sounds like a great TC & private money?
Good job
Understanding how any transaction process works gives you the ability to be a problem solver for any situation. I believe this comes with experience, yes? Would getting your real estate license & going through the classes teach you some of theses tools? Is getting access to the cash for This deal based on the asset or is that cash you already had built up from other deals making profit? I want to be a flipping genio problem solver like you.... many blessings be upon you, thank you ✌
well explained how to wrap up a deal, i want to learn that, i have a question how do i get fund if i dont have money for giving seller money and closing cost or any rehab the house might needed it.
What 3rd party services are you using to pay the note? And how is insurance handled, will that need to be in the sellers name as long as the loan is in his name still?
Jerry, do you have a subjecto course explaining everything from A-Z?
Wonder how Pedro found this. Good deal!
Prior to Having an Appraisal, Whats the Reasoning For Why Home Remodelers Make Offers to Loan Sellers or Home Sellers Without Making Mistakes That Waste The Appraisers Effort, Dont You Need Pricing Data in Advance to Make Offers to Know Your Breakeven Cost & Your Net Cost to Net Profit?
What if the new lender says no after showing them you’re making the payments on the previous loan?
That almost never happens. But if on the very off-chance that it did, then they could always find another mortgagor.
Please provide a couple TA's
Is subject to available on all home loans?
So was this deal found through searching for pre -foreclosures in Flipster? If not, how so?
That deal was awesome Jerry! I’m not sure if I’m evaluating my sub 2 deal correctly. My seller has a agent and I work with an agent that brought me this potential deal. Seller is over priced on market and has been sitting for 145 days. His property needs a full rehab at 90k and ARV is 306. He’s listed at 199k & has a existing mortgage of 165k with 3.2 interest, lien for 3400. The house rents for 2100 a month. I was thinking I could seller finance his equity and do a referral fee for my agent but not sure how to handle his agent or if this is a deal.
So would this lead qualify for as a deal for your 10K club or after you get the signed agreement?
great video and very insightful- one question- does not the deed pass over to you guys in a sub2? So if you walked away the past owner would not get the property they would only still be responsible for the loan. Or does the title not transfer over in a sub2 closing?
I think sub2 would be the most effective if the buyer could actually take over/transfer the loan- why lenders don't do that is a mystery.
Yes, sub2 you take title
Can I do sub-to virtual wholesaling with pre foreclosure?
Yes
Wait.. so you don’t do any of the paperwork you just tell a transaction what you agreed on verbally and they do all the work from there?
Correct
I need help with a deal.
How do I get in touch with you?
Ann
Is the transaction condinater an Real Estate agent?
Not necessarily
Jerry, who can qualify to be a persons transaction coordinator for paperwork...just a title company person? Whats a good way to find someone and qualify them? Thanks
Use mine!
Go Here to Get Full Service Closings (transactional coordinator):
www.constantclose.com/flippingmastery
@@FlippingMastery Thank you!
Ah I missed it. Just saw your video on your vitamins
@Michelle rice 👆
Jerry you’re a flipping genius..literally the 🐐. Question, do you have the Power of Attorney discussion with the seller or have your attorney do it when he’s closing the transaction? Thanks for providing so much valuable content
Usually let the TC handle
@@FlippingMastery Hey jerry, I just started my wholesale journey. I want to know what areas (state of preference, zip code, low or high income neighborhoods and ARV) you like to buy in so I can bring you more deals. How do I contact you?
@@jamesdouglas9205 go to his 10k check club link in the description of this video
I learned a lot from this video the explanations were very clear. It felt different because me and the seller have the same name lol but My question is when jerry was talking about getting a payoff letter from the seller what did he mean by rears?
arrears= overdue payments
Where can I find a TC?
Go Here to Get Full Service Closings (transactional coordinator):
www.constantclose.com/flippingmastery
*Once you enter your email, it’s automatically emailed to you. If you don’t see it, check your junk/spam folder in case your email provider put it there...If you still don’t see it, my team can help you out. Support@flippingmastery.com
Most people selling their home have been living there for more than a few years and have an interest rate well below current rates. I'm curious why is not more common for sellers to be open to accepting an assumable mortgage offer, in order to maximize their own profit? I get the felling that these types of deals are uncommon and ideally targeted to distressed sellers. Also if this seller is distressed then is the risk greater that you will need to evict the seller if he takes you up on the rent back offer? I'd wonder if the distressed seller-now-renter would make another poor life choice by choosing to get evicted instead of honoring his contract (which he has a past history of non-payment already) and getting his $5k out of escrow. Of course if it only cost ~$5k for an eviction that it's not a problem.
That conversation went so smooth it’s almost like it was staged. Js
I was waiting for this comment 😂
You did lie to him about getting another mortgage in the future. As long as he has that mortgage on his credit report. FHA will always count that debt against him. A conventional loan after 12 months might be his only chance.
But how many times can you use an FHA loan?
Hard to hear- silly jump cuts, why would you zoom in on fist bumps with silly sound effects- and you zoomed in on Pedro drinking a soda at 6:51... what is this??
No one really asked you bro 😂
God damn jerry
I really enjoy watching the in person 1 on 1 call vids..good stuff, Jerry! 📱📄🏠💵