Podcast Show 70 buy subject-to, with wrapped mortgage, selling owner financed
I listened to the BP Podcast show 70 and was excited about strategies they mentioned.
I’m in Birmingham, AL and know the local real estate network pretty well. I’m having a hard time finding investors I can work with that know how to do the combination of these strategies. They can do subject-to but they do not combine it with wrapping the mortgage and selling it owner-financed.
I can definitely find motivated sellers where subject-to is the best option. However I need help creating a wrapped mortgage, and selling owner-financed (I can find buyers too). In Alabama we typically have a closing attorney. Would they create the paperwork for the new (wrapped) mortgage, close with the new buyers, and file paperwork with the city/state? How would the title search and title insurance look, and what else is involved?
Are there any Birmingham Alabama investors on biggerpockets that would know??
I have thrown away several deals that this would work perfect on.
Thanks!
- Chad Raggio
[email protected]