When you buy a property subject to the existing loan, what you’re doing is asking the seller who has a property with a mortgage on that property to transfer the title or deed the property to you. They sign over the deed…you take over the property and you start making payments on their existing loan. You’re not going to qualify for that loan, you’re going to take over the loan payments, taxes and insurance for the property.
Now, you're set! You can rent it out or do the whole BRRRR thing, you can lease option the property, or if you are like our November Guest William Tingle, your plan will most likely be to go out and find someone to buy that property from you with seller financing. They will give you a down payment and make payments to you every month. At some point, we like the 3 year plan, they will refinance at which time the seller's original loan will be paid off and you will receive your backend profit on the deal so in this scenario you would make money up-front in the form of a down payment, monthly payments as cash flow and on the backend as a payoff.
Join us Tuesday, November 12th to find out more about how William Tingle Profits on Sub2Deals here in the US from his deck in Belize. Find out why people will give you their houses and how to profit from them.
Reserve Your Seat at https://www.mareimember.com/Events.aspx?ID=Main-Monthly-Meeting-Buy-Houses-Without-Bags-of-Cash-or-Bank-Loans-37-11-12-2019
MAREI Meeting is FREE for Members of MAREI and 1st Time Guests who pre-register. All others are asked to join ($99 a year) or pay a $25 Guest Fee.
"Sure this Sub2 thing sounds interesting, but what does a deal look like?" William Tingle explains in our latest blog post
#RealEstateInvesting #SubjectTo #Sub2 #KansasCityRealEstate #MAREI #WilliamTingle
We have determined what a Sub2 Deal is and today, William Tingle takes a look at ways to Structure your Sub2 Deal to make a profit:
#RealEstateInvesting #CreativeRealEstate #SubjectTo #Sub2 #NovemberAtMAREI #MAREI
Take a look at a low equity deal that @William Tingle, our November Guest speaker was working on.
The November RE Investment News is published. Grab your copy today to read online or download to your favorite device.
See you at the meeting on TUESDAY! https://issuu.com/mareistaff/docs/2019.11_re_investment_news
Reminder: The MAREI meeting is Tuesday - be sure to take a moment and get registered