Looking for Battle Buddy! Subject To or Seller Financing

Richmond, CA · Member since 2018 · 12 posts · 3 votes

Just watched episode 527 and feeling so inspired by Pace Morby. I'm personally looking to relocate to the Los Angeles area, specifically Whittier, CA or surrounding areas to be closer to family. With home prices being so high and down payments unaffordable I'm thinking that using a subject to strategy or seller financing might work for my situation. Looking for friends or "battle buddies" as Pace calls them that are interested in looking into this together. Would also love to hear any personal stories on this subject if you do deals in California.

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Curt Smith

Rental Property Investor · Clarkston, GA · Member since 2012 · 2k+ posts · 1k+ votes

Beatriz, good luck in your moving and life style adventure!!!

You'll learn that gurus tout tactics that don't work in most areas!!! For many reasons they never mention. Everyone likes being a hero and looking smart. NOW that said I'm not saying that folks (like me for example) don't have helps and stories of things that worked that aren't useful to learn from. I'm saying that these stories don't come with enough context on where the worked and ..... WHEN. IE 5 yrs ago in a different market..

That said (again) CA is a different real estate world. It will take alot of mass exodus to switch from a sellers market to a buyers market and may never happen due to nice weather and places to visit. We just spent 2 weeks traveling along hwy 101 from LA to SF. NICE!! So high demand for $1m shacks will be with those folks probably for along time.

Your best bet is to join the local REIAs, real estate investor associations, find in meetup.org, and learn what works in that area. Most REIAs have an online/zoom optioon now so remote membership is doable.

I primarily buy subject to and have a free training doc on the complicated docs needed to close a sub to. connect, then pm me. I also like to help wil real deals.

Best of luck!! curt

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Curt Smith
Rental Property Investor · Clarkston, GA · Member since 2012 · 2k+ posts · 1k+ votes
4y
Beatriz, good luck in your moving and life style adventure!!!
You'll learn that gurus tout tactics that don't work in most areas!!! For many reasons they never mention. Everyone likes being a hero and looking smart. NOW that said I'm not saying that folks (like me for example) don't have helps and stories of things that worked that aren't useful to learn from. I'm saying that these stories don't come with enough context on where the worked and ..... WHEN. IE 5 yrs ago in a different market..
That said (again) CA is a different real estate world. It will take alot of mass exodus to switch from a sellers market to a buyers market and may never happen due to nice weather and places to visit. We just spent 2 weeks traveling along hwy 101 from LA to SF. NICE!! So high demand for $1m shacks will be with those folks probably for along time.
Your best bet is to join the local REIAs, real estate investor associations, find in meetup.org, and learn what works in that area. Most REIAs have an online/zoom optioon now so remote membership is doable.
I primarily buy subject to and have a free training doc on the complicated docs needed to close a sub to. connect, then pm me. I also like to help wil real deals.
Best of luck!! curt
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Robert Reynolds
Real Estate Agent · Los Angeles, CA · Member since 2019 · 302 posts · 163 votes
4y
Quote from @Beatriz Rodrigues:

Just watched episode 527 and feeling so inspired by Pace Morby. I'm personally looking to relocate to the Los Angeles area, specifically Whittier, CA or surrounding areas to be closer to family. With home prices being so high and down payments unaffordable I'm thinking that using a subject to strategy or seller financing might work for my situation. Looking for friends or "battle buddies" as Pace calls them that are interested in looking into this together. Would also love to hear any personal stories on this subject if you do deals in California.

Hi @Beatriz Rodrigues,
Finding seller financing deals that make sense are hard in SoCal because of the high appreciation. Most sellers want all their money upfront, so they can then reinvest it in multiple properties. There are many low-down payment options that might be a better option for you. I recommend talking to an investor friendly loan broker about 3.5% FHA loans, 80-10-10 loans and the new 2-1-0 option where you can lower your rate for the first two years on your primary home loan.
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Lexey Vezzoso
Real Estate Agent · Boise, ID · Member since 2019 · 192 posts · 184 votes
4y
Hey Beatriz!
My good friend @DentonWilliamson is in LA and he is part of the SubTo mentorship.
He puts together a lot of meet ups as well. I don't know if he's on BP but you should look him up on instagram. :)
-Good Luck!
Lexey
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Don KonipolBusiness Member
Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
4y
Quote from @Beatriz Rodrigues:

Just watched episode 527 and feeling so inspired by Pace Morby. I'm personally looking to relocate to the Los Angeles area, specifically Whittier, CA or surrounding areas to be closer to family. With home prices being so high and down payments unaffordable I'm thinking that using a subject to strategy or seller financing might work for my situation. Looking for friends or "battle buddies" as Pace calls them that are interested in looking into this together. Would also love to hear any personal stories on this subject if you do deals in California.
I question this “battle buddy” thing. Unless two people enter into a specific partnership, with each bringing something the other doesn’t have to the table, it’s actually a gigantic waste of time. If you need someone to hold your hand, you’re not ready to do a deal.
Private Mortgage Financing Partners, LLC
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