I swear Pace is sent from above or literally drunk, LOL! The amount of value that you give for free, helping others is amazing!! Other so-called GURUS should feel ashamed of themselves for charging 10's of thousands of dollars for this info.....They don't understand that the biggest benefit of what you do is the "community" that you've built and the loyal students you have. I can't wait to become a Subto member. Thank you, Pace.
Wow. My mind is blown. Since i found ur videos a couple days ago, i cant get enough. Really wish i found out about this a month ago before purchasing my first home. Still going through the paperwork to close. Seems like theyre never happy with the documents and always have something more they want us to send. Im only doing sub2 from now on!! Thanks Pace!!!
Same here. I found Pace because I’m wanting to buy a home sub-to this spring or summer. Then got interested in wholesale and possible fix and flips. (A friend wants me to buy her home in the mountains. It needs a full gut job but it’s surrounded by million $ homes) Thanks Pace, for the boat loads of info you share.
Pace, creating financing its so powerful that I’m talking to one of your team and he was about to accept the creative financing that I created to become a sub2 student, in the end of the conversation he said, are you trying to create financing on the membership? Dude you can’t do that.. it was good terms that I Offered him. I enjoyed the momentum…😆😆😆
@@PaceMorby Good morning and thanks for your reply! I definitely want to collaborate and learn from you!I have a challenging property in Missouri that I would like to talk to you about offline. Would that be possible?
Brand new today to the page. I wanted to give a sincere Thank you for putting valuable and transparent content out there. No ask on my part-just want give gratitude.
I read all of this information on all of this subject through the library, and reliable book vendors online. I thank you Mr. Pace Morby I exercise to these videos.
Pace I appreciate all that you give to us. Value and experience, sometimes I think you’re kidding but then I see your students. This is the real deal. Do u think you can share more of your student’s case studies and walk us thru it, how they did the whole thing? Much ❤️ love
Hey Pace great content as always. I just have a question. I live in Oregon and do loan signings and I notice a lot of the loans are no assumable unless they are a VA loan. So I was just wondering how are you legally able to take over this loan? Do you have to find states where loans are assumable?
@Joshua Esparza I get that but have a question. If you subto the deed goes into your name. Now the sellers loan is then paid by you. How do you get that loan information and what does the bank think when all of a sudden someone completely different is sending in payments?
@@RobertHasty what you’re doing is you pay the seller and the seller still pays their mortgage. In some cases, the lender will find out that the deed changed and called in the note or loan completely due. In this case to solve this, you can give the title back to the seller after signing a lease option. Which means the seller technically leases the property to you but allows you to do whatever you want and eventually purchase the property from them or you become the wholesaler and take any extra equity. The property has accrued since signing the lease agreement.
If somebody lets you take over their payments doesn’t that mean the loan is still in their name & wouldn’t that make it harder or impossible for them to get another mortgage loan for a new home to live in?
@Pace Morby, im trying to do my own due diligence to find the answer to my question, but arent those mortgages "due on sale/transfer"??? How are you keeping the mortgage in seller's name without their note being called immediately?
On subject-to deals, aren’t you taking on the risk of the property possibly getting repo’d by the bank if the seller goes into bankruptcy in the future?
So if you live in the Sub 2 hse deal, as a 1st time home owner doing No MONEY DOWN Deals? How could I now pay the Seller, mthly payments, when I couldn't cash flow it..not unless I am renting out the home I now occupy? Like plus the up keep of it. The seller needs there money? Can you see what I am saying? How many OTHER deals will I need to live in the 1 home..... I know NOTHING please just help me out here
Hey G! Check out this podcast video where I explain how to live in your own property acquired using subject to. th-cam.com/video/gmNmMOnh4Ns/w-d-xo.html
I want to do this I have 150$ to my name and dnt no anything about this but I think this is dope plus I’m homeless 34 years old Columbia sc 😢man I wish I knew this in high school 👍🏿that’s cool man
Since they are behind in payments, would i need to catch up on the payments? Say the monthly payments are $2500 and the homeowner is 4 months behind. would i have to pay $10,000 before the house is “mine?”
I’ve been searching so hard I’ve been trying to find them in public records looking up notice of default etc but they make some “public” records hard to find thank you!
Question: If distressed owner stopped making payments, the house still has a lien….so how can you take the deed? You’d assume the loan, right? But then you’d have to qualify for that loan just as if you were buying directly from the bank. I need more details.
Hello Pace! Thank you for sharing. I am on a hunt for my own home. What information do I enter in Batch leads to search for foreclosures in batch leads? I am only seeing sold home. Thank you in advance!
Hey Pace! Thanks for the great content. So we can still cold call these houses that’s in foreclosure already? What about if it’s in auction already? Thanks
Thanks for the dope vid/content. However one serious question.... how do you get your name on the deed? go through title? In az title insurances dont work on these or the fha ones at least ive heard. I still have it under contract but its taking me forever to close since they dont insure this type of financing. Help!!
Have you ever had the mortgage company of a Sub-To deal request full amount due on sale? I love sub-to but nervous in the event the deed transfer would trigger the note due in full.
what I don't understand is that isn't most people in foreclosure behind quite a bit? For example, if the total owed is $100k, doesnt that mean you need to also payoff how far they are behind if you take on their payments?
Hello Pace, I want to buy to my first subject to live in first and then with the other houses create passive income. Are you willing to assist me ASAP?
Hello @Marshell1984sa How have things been since your last post? Let me know if you need any guidance through the paperwork. I'm a Top Tier TC and also a subto student. Would love to help you if you need it.
Perfect, how much are wholesaler fees for having to call on your behalf? So, after they called on your behalf and you tell them you're interested in buy. How much would they want because you didn't do it yourself? Thanks!
I learned about subject to many years ago but when I pursued it, I discovered that there is a clause in the mortgage agreement which states that the loan must be paid in full upon sale of the home. I was told that the lenders don't always enforce this as long as the payments keep coming in but I wouldn't feel very secure about taking on this debt knowing that I am supposed to pay the debt in full. I am wondering how you are getting around this in order to avoid this risk?
I was thinking the same thing, Lets say the Seller has paid 150k on a 300k home and is in foreclosure, 'take over payments' implies no new loan but.. Someone is going to eat the initial 150k, Buyer or Seller.
Also, what do you tell the seller if they ask well what happens if you don't make those mortgage payments on my behalf like you agreed to? The deed is now in your name so i don't even have claim to the property...
This strategy makes little sense . As Average foreclosure time is 8-14 months. If someone is in foreclosure , they have probably missed At least 6 payments. So if you take over the mortgage of a person that has zero equity, you have to make the 6 month delinquent payment, on top of the normal mortgage payment. 🤔
Correct. And you can bring in private money lenders to pay off the old debt. It doesn't work in every deal, but often times when you run the numbers it's still a sound investment
So seems like this strategy can assist someone who's in a bad situation. But what if you need the owner to vacate the property so you can rent it out to make those mortgage payments on their behalf? What do you say to the seller who probably can't afford to rent somewhere if they are having issues paying their mortgage? I'm sure they don't want to be homeless...i suppose in their eyes they can at least stay in their own home for many months (depending on state) before they even legally become evicted by the time the court process plays out.
You need to look at a sub to contract before assuming these things. You're right about them potentially not being able to afford something, but if the contract is efficient, you can get them out asap.
Hello @RoyaltyMusicTV How have things been since your last post? Let me know if you need any guidance through the paperwork. I'm a Top Tier TC and also a subto student. Would love to help you if you need it.
I swear Pace is sent from above or literally drunk, LOL! The amount of value that you give for free, helping others is amazing!! Other so-called GURUS should feel ashamed of themselves for charging 10's of thousands of dollars for this info.....They don't understand that the biggest benefit of what you do is the "community" that you've built and the loyal students you have. I can't wait to become a Subto member. Thank you, Pace.
There are people that hate me believe it or not.
In the last 3 days I have been chipping away at watching all of your videos start to finish and I am learning something new with each video.
That is awesome!
Wow. My mind is blown. Since i found ur videos a couple days ago, i cant get enough. Really wish i found out about this a month ago before purchasing my first home. Still going through the paperwork to close. Seems like theyre never happy with the documents and always have something more they want us to send. Im only doing sub2 from now on!! Thanks Pace!!!
Same here. I found Pace because I’m wanting to buy a home sub-to this spring or summer. Then got interested in wholesale and possible fix and flips. (A friend wants me to buy her home in the mountains. It needs a full gut job but it’s surrounded by million $ homes) Thanks Pace, for the boat loads of info you share.
Hey man! That's awesome. You're welcome!
This is exactly my plan to get my first home!
AJ. That's awesome!
Pace, creating financing its so powerful that I’m talking to one of your team and he was about to accept the creative financing that I created to become a sub2 student, in the end of the conversation he said, are you trying to create financing on the membership? Dude you can’t do that.. it was good terms that I Offered him. I enjoyed the momentum…😆😆😆
Having him explain it to a third person and me as the audience watching helps me understand so much more
Glad this was helpful bro!
@@PaceMorbydefinitely. Plenty of questions coming your way soon
I think it's so cool that Pace still replies to our comments personally ! That says a lot to me !
Because I value all of you. I get up early and usually start my day reading all your comments.
@@PaceMorby Good morning and thanks for your reply! I definitely want to collaborate and learn from you!I have a challenging property in Missouri
that I would like to talk to you about offline. Would that be possible?
Looks like you have changed my life now
Brand new today to the page. I wanted to give a sincere Thank you for putting valuable and transparent content out there. No ask on my part-just want give gratitude.
Welcome to my channel and so happy to have you here, Scott! I appreciate your comment.
I love what your doing on this platform educating us. Thank you for sharing.
Thanks for appreciating the free value I share.
Im in need of a home, crappy credit, this will have to be the way for me to get a home
You are absolutely AWESOME!! Thanks for everything you do. Frfr. I wish I had known about you before I lost my home.
I had no ideal Pace that you make understanding Sub To so easy to understand. Thank you!
Pace is a wealth of information.
Hey K! Glad you're getting value out of this bro. Thanks for being a subscriber!
I read all of this information on all of this subject through the library, and reliable book vendors online. I thank you Mr. Pace Morby I exercise to these videos.
Hey Chief! Amazing. You're welcome and I'm glad you're learning more about it.
Pace I appreciate all that you give to us. Value and experience, sometimes I think you’re kidding but then I see your students. This is the real deal. Do u think you can share more of your student’s case studies and walk us thru it, how they did the whole thing? Much ❤️ love
Eva. Here's 11 of them. Check it out! th-cam.com/play/PL2Y6uEs9DYr0ygzk-ApTeg67SUdOz8yVK.html
He wants you to just go after it not show more evidence do some research put it in action and you’ll have results
Great video! I'm trying the 7 day trial. However, most of the pre-foreclosure results say SOLD.
How do you structure these type of deals on paper? Do you agree on terms with a homeowner and then take it to an attorney?
He just explained it at 9:46
No he didn’t explain it
I wasn't thinking of using sub to to buy a personal home but thanks for the idea. I definitely will use to buy my next house
Kevin. That's awesome! Glad you gained value in this video.
Best Group on Facebook!!!
Hell yea!!! 🙌
This video is Amaaaaazing ✌️
Bringing it (as usual :) and right on time.
Thanks Pace!
Thanks brotha!
thank you for sharing the knowledge sir!
So excited to become your subto member
Dam...Pace is straight Gangsta, his game is fire!
Dude thank you!!
Wow. You are giving gold nuggets for free man!
Thanks for the amazing content, Pace! This is exactly what I've been looking for! 😍
Vanessa. Awesome! Glad you're gaining value out of this.
Pace! You did it again friend in my head. This video came at such a perfect time. As always thank you🙏🏿🙏🏿🙏🏿
Tamara. You're so welcome!
Great information love your content
Cant wait to meet you one day. Bless the new family. Humanitarian award🥇 🥶
Raheem. Likewise brotha! Thank you.
I love this, I plan on getting my first home this way. Much love Pace!! Shout out from Miami Subto!!
Christian. Amazing! I love Miami man.
Love your OutKast painting and this is a great video
Thank you for the information.
Thanks for plugging 🔌 the playlist ▶️, helped a ton my brotha!
Glad I could help!
I been binging on pace morby lately. I am very interested in acquiring my first home via subto but I don't even know where to start...
This is awesome !! I was looking for the answer for long time. Thank you pace ✌🏾
Hey Ariel! You're welcome. Happy to help.
Love it Pace.
Pace AMAZING content … Thank you
Alexander. Thanks man! And thank you for being a subscriber.
Thank you so much. Excellent information!!!
How do you get your property furnished? For air bnb? Do many property managers offer furnishing homes or apartment units?
Thank you for the invaluable information!
crazy how yt is playing his own ad on his own video
Thank you!!!
Good job keep the work
Thanks for the info man ❤ I’m working I get some money
Hey Pace great content as always. I just have a question. I live in Oregon and do loan signings and I notice a lot of the loans are no assumable unless they are a VA loan. So I was just wondering how are you legally able to take over this loan? Do you have to find states where loans are assumable?
@Joshua Esparza I get that but have a question. If you subto the deed goes into your name. Now the sellers loan is then paid by you. How do you get that loan information and what does the bank think when all of a sudden someone completely different is sending in payments?
@@RobertHasty what you’re doing is you pay the seller and the seller still pays their mortgage. In some cases, the lender will find out that the deed changed and called in the note or loan completely due. In this case to solve this, you can give the title back to the seller after signing a lease option. Which means the seller technically leases the property to you but allows you to do whatever you want and eventually purchase the property from them or you become the wholesaler and take any extra equity. The property has accrued since signing the lease agreement.
Thank you .. helpful info
🔥🔥🔥🐐 Thank you, as always!
You're welcome brotha!
Im interested in how you or others work around the "Due-on-sale clause" on most mortgage contracts when using "subject to"?
I cover this on the youtube channel A LOT
@@PaceMorby what video
You can also use pace’s company to get insurance for the “due on sale”
Ufff you have to educate yourself about sub2 deals.
Newbie! You’re awesome
If somebody lets you take over their payments doesn’t that mean the loan is still in their name & wouldn’t that make it harder or impossible for them to get another mortgage loan for a new home to live in?
Yes. Exactly. Sub to deals are nightmares for the seller. All it does it prevents them from losing their house and filing bankruptcy.
Awesome video. Quick question is there (seller) credit on the line when you make payments? Or is the loan transfered to your name?
yes there credit is in your hands
Really good information! Just joined your FB page! Thank you 🙏
Awesome! Thank you Carmen!
@Pace Morby, im trying to do my own due diligence to find the answer to my question, but arent those mortgages "due on sale/transfer"??? How are you keeping the mortgage in seller's name without their note being called immediately?
On subject-to deals, aren’t you taking on the risk of the property possibly getting repo’d by the bank if the seller goes into bankruptcy in the future?
Yup
Love your content. Would love a one on one.
So if you live in the Sub 2 hse deal,
as a 1st time home owner doing No MONEY DOWN Deals? How could I now pay the Seller, mthly payments, when I couldn't cash flow it..not unless I am renting out the home I now occupy? Like plus the up keep of it. The seller needs there money?
Can you see what I am saying?
How many OTHER deals will I need to live in the 1 home.....
I know NOTHING please just help me out here
Hey G! Check out this podcast video where I explain how to live in your own property acquired using subject to. th-cam.com/video/gmNmMOnh4Ns/w-d-xo.html
Hey guys, where are we getting contracts and paperwork from to make sure everything is set up properly for legal purposes?
I'd love a one on one.
I want to do this I have 150$ to my name and dnt no anything about this but I think this is dope plus I’m homeless 34 years old Columbia sc 😢man I wish I knew this in high school 👍🏿that’s cool man
Since they are behind in payments, would i need to catch up on the payments? Say the monthly payments are $2500 and the homeowner is 4 months behind. would i have to pay $10,000 before the house is “mine?”
I believe so.
would you buy a home to live in with your prime corporate services LLC or would you buy it in your name?
Subbed awesome vid
I’ve been searching so hard I’ve been trying to find them in public records looking up notice of default etc but they make some “public” records hard to find thank you!
You're welcome!
Question: If distressed owner stopped making payments, the house still has a lien….so how can you take the deed? You’d assume the loan, right? But then you’d have to qualify for that loan just as if you were buying directly from the bank. I need more details.
Hey Ronnie! I don't assume loans. Here's a Sunday Service episode about taking over payments with subject to. th-cam.com/video/e8nJ-O_79WM/w-d-xo.html
@@PaceMorby Much appreciated!
Hello Pace! Thank you for sharing. I am on a hunt for my own home. What information do I enter in Batch leads to search for foreclosures in batch leads? I am only seeing sold home. Thank you in advance!
Thank you
You're welcome!
What’s the facebook group called
Peace, do you prefer Batch Leads over PropStream?
Hey Pace! Thanks for the great content. So we can still cold call these houses that’s in foreclosure already? What about if it’s in auction already? Thanks
Hey Arlon! Yes, you can. Use this free script when you call foreclosures: www.pacejmorby.com/foreclosure
Thanks for the dope vid/content. However one serious question.... how do you get your name on the deed? go through title? In az title insurances dont work on these or the fha ones at least ive heard. I still have it under contract but its taking me forever to close since they dont insure this type of financing. Help!!
What happens if you take over the payments and then the seller decides to file for bankruptcy? Would I lose everything?
I am actually in this situation. I can afford the payments but can't get funded.
Pace, do we have to come up with the mortgage balance owe?
Is the deed transferered through a Quitclaim Deed or is it theough an Escrow Service Company?
Are you adding your name to their existing hazard insurance policy that is escrowed into the subto mortgage?
Yessss sir.
🙌
Have you ever had the mortgage company of a Sub-To deal request full amount due on sale? I love sub-to but nervous in the event the deed transfer would trigger the note due in full.
Hey he just recently did a video on this check it out I heard there’s even insurance for this to
@@treasuretakara6072 appreciate your response! I’ll look into that.
what I don't understand is that isn't most people in foreclosure behind quite a bit? For example, if the total owed is $100k, doesnt that mean you need to also payoff how far they are behind if you take on their payments?
Could you please answer my question, Pace. Are their nay financial requirements?? Do I need a license to start doing this?
Hello Pace, I want to buy to my first subject to live in first and then with the other houses create passive income. Are you willing to assist me ASAP?
Hello @Marshell1984sa How have things been since your last post? Let me know if you need any guidance through the paperwork. I'm a Top Tier TC and also a subto student. Would love to help you if you need it.
Perfect, how much are wholesaler fees for having to call on your behalf? So, after they called on your behalf and you tell them you're interested in buy. How much would they want because you didn't do it yourself? Thanks!
That’s my question also
ASSALAMU ALAKOOM YAAA BAITULLAH:)
Aww shit.. that moment you ask a question on one video and you find the answer in the next video.
Exciting information as a new investor! No mention of Due on Sale Clause as it pertains to sub to though?
I watched a different video where they discuss that. They say that it rarely happens but tell you what to do if it happens
That link for bath leads isn’t working?
Does it need to be a pre for closure in order to be a sub 2 deal?
I learned about subject to many years ago but when I pursued it, I discovered that there is a clause in the mortgage agreement which states that the loan must be paid in full upon sale of the home. I was told that the lenders don't always enforce this as long as the payments keep coming in but I wouldn't feel very secure about taking on this debt knowing that I am supposed to pay the debt in full. I am wondering how you are getting around this in order to avoid this risk?
look up his lease option videos to get around this as some smaller banks may call for their paid in full. He's done it after it was called
I was thinking the same thing, Lets say the Seller has paid 150k on a 300k home and is in foreclosure, 'take over payments' implies no new loan but.. Someone is going to eat the initial 150k, Buyer or Seller.
Pace, Is this for an assignment strategy or for someone who has the cash themselves like you bro?
What's the process like selling a subto
how do we know the condition of house we want to sub 2? do we do inspection?
Also, what do you tell the seller if they ask well what happens if you don't make those mortgage payments on my behalf like you agreed to? The deed is now in your name so i don't even have claim to the property...
I’m very interested in buying a home sub to.
Currently renting and looking into this . Bad credit situation
Hey @classAmoto How areyou? Are you buying substo deals? ?I am a tc, let me know how can I apply.
Woah! Thanks for all the gems you drop. Question: Do they have to be a first time home-buyer?
This strategy makes little sense .
As Average foreclosure time is 8-14 months. If someone is in foreclosure , they have probably missed At least 6 payments. So if you take over the mortgage of a person that has zero equity, you have to make the 6 month delinquent payment, on top of the normal mortgage payment.
🤔
Correct. And you can bring in private money lenders to pay off the old debt. It doesn't work in every deal, but often times when you run the numbers it's still a sound investment
So seems like this strategy can assist someone who's in a bad situation. But what if you need the owner to vacate the property so you can rent it out to make those mortgage payments on their behalf? What do you say to the seller who probably can't afford to rent somewhere if they are having issues paying their mortgage? I'm sure they don't want to be homeless...i suppose in their eyes they can at least stay in their own home for many months (depending on state) before they even legally become evicted by the time the court process plays out.
You need to look at a sub to contract before assuming these things.
You're right about them potentially not being able to afford something, but if the contract is efficient, you can get them out asap.
Do you have a course how to do the paperwork and steps to take during this process?
Would like to know this as well
Hello @RoyaltyMusicTV How have things been since your last post? Let me know if you need any guidance through the paperwork. I'm a Top Tier TC and also a subto student. Would love to help you if you need it.
How do you get access to the sellers mortgage account to actually make the payment monthly?
I love this content. I have so many questions😭
Hey Yahya! What questions do you have?