All Forum Posts by: Bart H.

31404

Hi Gregory,

The local Savannah REIA group is at this link:

http://savannahreia.com/

We meet every 2nd Monday of the month at 6:30pm at  

Hilton Garden Inn Savannah Midtown, 5711 Abercorn Street, Savannah, GA

Tonight, we have a special meeting at El Paso restaurant on Abercorn at 6:30pm.  The training is 'Creative Deal Structuring'.  Come out if you can.

Hi Allen,

The local Savannah Real Estate Investors Alliance is holding a meeting this evening.  Come on out here if you can.

Savannah Real Estate Investors Alliance (Savannah REIA)

Monday, February 22, 2016
6:30 PM

El Paso Mexican Grill
7921 Abercorn St.
Savannah, GA

Thank you Nikki,  I will add her Youtube videos to my arsenal of education.

From my study, subject-to is a technique by which the investor gains the title to a property but doesn't have to get a mortgage on that property he is about to control. So, unless you have someone ready to move in the house to make the monthly note payment, you will have to make it.

If the seller has no equity in the property, then that's good for you.  They are just getting the burden of the house payment off their backs.

We have an investor in my area who basically does subject-to investing and takes control of properties with an earnest fee of $10.00 and then moves a buyer into the home under a lease-option.  The key is to have a buyer in place first who would be interested in that particular property so you would not have to make the monthly mortgage payment.

Most banks will not execute a due on sale clause as long as they are getting paid.  Why go through a costly foreclosure when you are getting paid the monthly mortgage note on time?

Hi Natalie,

I'm studying how to do 'subject to' deals and found a good resource that could help you.  Its a book by real estate investor Wendy Patton.  Here is the link to her website:

http://wendypatton.com/products/books-ebooks/

I purchased a copy of her book from Amazon called "Investing in Real Estate with Lease Options and Subject-to deals."

Hope this helps,

Bart

I just got a pre-qualification letter from BB&T just over a week ago and I got it based on my own name, not my business.  Unfortunately, I backed out of the purchase deal because of some lingering issues with the property, but BB&T were gracious enough to let me know they are available to finance my next potential deal.

I got a rate quote from BB&T Bank for 4.0% for investment property here in Savannah, GA.  That's with 20% down.

Robert,

I'm a new investor in the Savannah, GA area.  Looking for my first deal which I have, however, because the price of the property is so low ($30K), my bank says they will not finance it, even though my FICO is above 750.  You may want to check some of the local banks in the Rincon, GA area.  They may be able to assist.

Bart

Just turned pro a week ago and am working on my first deal. The numbers look good and its a tenant occupied SFH. Looking to max out Biggerpockets for all its good information.