Austin, TX · Member since 2015 · 30 posts · 8 votes
My marketing in Iowa is starting to pick up and I'm getting some sellers who are interested in doing subject to deals. The most recent one is in Cedar Rapids. Is anyone out there actively buying rentals and via subject to in Iowa? Care to share any of your experience?
Investor · Cedar Rapids, IA · Member since 2013 · 494 posts · 407 votes
10y
Buying rentals, yes but not doing any subject to deals. Always looking for a good deal but I don't have a marketing campaign. I see bandit signs from other investors and there's a local REI meeting monthly. I know there are wholesalers in town but I don't think too many.
Investor · Cedar Rapids, IA · Member since 2014 · 205 posts · 80 votes
10y
I had a potential subject to deal that I was working on a while back and reached out to a couple lawyers that didn't seem to know much about it. The deal ended up not happening, so I didn't pursue it much after that. It was hard finding info on BP about it too. I did find that it makes it easier keep everything that the current seller has in place, including insurance, to prevent flags from going up at the bank. I would love to hear if anyone has any other advice as it seems like a pretty good strategy.
Urbandale, IA · Member since 2015 · 54 posts · 7 votes
10y
I've run across a few posts and podcast discussions that talk about doing some kind of land trust for these. I've also heard these are getting more difficult because of clauses put into the bank contracts. Never done one myself.