BEGINNER R.E.I. INTERESTED IN FORCLOSURES AND “SUB TO” DEALS

Member since 2023 · 3 posts · 0 votes

Hello my fellow bigger pockets community. I am a beginner R.E.I. Interest in obtaining property Thru “Sub To Deals “ . With big investors jumping back in the market is now a good time for Sub To deals and how should I go about it as a beginner with competitive investor with more capital and experience then I have? If there is another way to get invested I am open ears.

thanks in advance.

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Eliott Elias

Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes

Capital doesn’t put you ahead, the real estate knowledge does. There are all sorts of scenarios in subject to that you are going to come across and need to know how to handle. Know how each loan puts you at risk and why. You will get the deal if you can solve the complex issues, not if you have the cash.

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Josh YoungPro Member
Rental Property Investor / REALTOR® / Property Manager · Gilbert, AZ · Member since 2023 · 384 posts · 421 votes
3y
@Reynaldo Purvis
Those are not strategies that I would pursue as a beginner, you just listed the hurdles, and they are real. I always recommend that people start out buying a primary residence every few years, keeping the previous as a rental. This gets you a relatively low interest rate and a low down payment. Also, if you need more cash flow you can rent it out by the room.
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Eliott Elias
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
3y
Capital doesn’t put you ahead, the real estate knowledge does. There are all sorts of scenarios in subject to that you are going to come across and need to know how to handle. Know how each loan puts you at risk and why. You will get the deal if you can solve the complex issues, not if you have the cash.
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Chris SeveneyBusiness Member
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Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
3y
@Reynaldo Purvis
I agree with Josh. First off big investors never left the market but all the marketing gurus who charge $10k for a course will be selling FOMO and now is the time to invest because foreclosures are coming. Complete BS to steal peoples money.
Yes a few people can claim they buy houses with money down as anyone can say that, but reality is they probably do that less than .1% of properties they look at.
Save money (if you cannot save money you will fail miserably in real estate), and buy a property with less leverage in a good area and start from there.
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Reynaldo Purvis
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Member since 2023 · 3 posts · 0 votes
3y
Quote from @Josh Young:

@Reynaldo Purvis
Those are not strategies that I would pursue as a beginner, you just listed the hurdles, and they are real. I always recommend that people start out buying a primary residence every few years, keeping the previous as a rental. This gets you a relatively low interest rate and a low down payment. Also, if you need more cash flow you can rent it out by the room.

Thank you Josh you definitely gave me a better perspective on things.
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Reynaldo Purvis
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Member since 2023 · 3 posts · 0 votes
3y
Quote from @Eliott Elias:

Capital doesn’t put you ahead, the real estate knowledge does. There are all sorts of scenarios in subject to that you are going to come across and need to know how to handle. Know how each loan puts you at risk and why. You will get the deal if you can solve the complex issues, not if you have the cash.

Eliot thank you for sharing that you made some really great points. Would you happen to have any books you would recommend to read?
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