All Forum Posts by: Wendy Patton

@Mario Martinez i have done most of my subject to deals from wholesalers in the last few years BUT like Mike said be careful.  First, I know the wholesalers in my area pretty well and second, I always take over the deal from the wholesaler to deal directly with the seller when it turns out to be a subject to - and then i pay them WHEN and if it closes.  They have to also trust me a lot.  I hope this helps.  

@Billy Farley if i can help you in anyway please let me know - i have a TON of contacts in the area because of my MI investor group i run.  I have been investing in MI for 36 years - you know it, i have done it.   Glad to help out 

@Stefanie Garner you must have a good team on the ground - especially a property manager - if you ever want to invest in MI please reach out i would love to get you in touch with the right people and help where i can also 

@Zachary Scott welcome to BP and also to MI investing -  i have been an investor in MI for 36 years and would love to help you in anyway possible - i do a lot of hard money lending now and would love to network with others who are interested in the same thing -  let's connect

@John De Souza do NOT sell your own property with subject to ever!  you are giving up the deed and letting someone else take over your payments -   if you want to do something similar then you can do a wrap and maybe offer to finance with a 7.5% or 8.0% mortgage but leave your payment underlying in place -  then do a deed or trust or land contract depending on where you live. I assume the property is in TX?   Why can;t you refinance the newly completed side and keep that one and cash flow it also?  when rates go down refinance them both 

Good post with good thoughts - I always have said there are deals in any market. If you buy a DEAL then the situation in the market should not affect it.  What i see is too many investors buying deals that are too tight. There is not enough profit in them for any type of issue that comes up or turn in the market.   I do the same thing for lending to investors - i make sure they have enough meat on the bone.  Many don't.  Personally I am investing in some 5% stuff to hold some cash but if i can lend it or buy something that has a good profit I will take it out immediately.  

@Mike Rethis After reading your post, I agree with Bill R above - buying Subject-To would be a great option for you. I began investing in my early twenties as well and you just have to find the right tools / methods that work for you. I would be happy to help with any questions you have.

@Brianna SJ Morgan welcome to BP - i am also from MI and will gladly help you in anyway i can

@Bruno Alhasson that can work just fine if that person doesn't know the law - we do have squatters rights ..... go figure and how does that make sense?  anyway, contract the police first to see if they will do anything -  if not call an attorney - i can recommend one if you want - but I would recommend you follow the rules.....it's a problem in Detroit in some areas.  It's part of the biz unfortunately.  I had a tenant in a place and the writ was issued the day before the moratorium hit in Detroit for no evictions.  I couldn't evict after that even though her eviction had nothing to do with Covid. She lived there for over 2 more years!  RENT FREE!  and who did that hurt?  yep the rich landlord me while the deadbeat got to use the system.  Don't get me started....oh you did :-)

@Bruno Alhasson you must get an attorney!   but you can also try calling the police to see if they will do anything - if not you must use an attorney - message me if you need one