EPISODE · Jun 30, 2021 · 19 MIN
Epi03 Golden Ticket - Buying Properties "Subject To"
from Optimized Investors Real Estate Investing · host Marco Barnes Jr
We all want to find that magic formula that we can use time and time again. Buying a house or property subject to the existing mortgage note actually means a seller of a property is agreeing to sell to you or your entity a real estate property and they are agreeing to transfer the title or the deed or ownership to you while also agreeing to leave the current mortgage in their name, and you agree to make their payments. This is that GOLDEN TICKET strategy that you have been looking for. People think that it is difficult or that it cannot be done, but you are WRONG! Now just to make clarity on a point, we're not talking about assuming a mortgage because when you assume a mortgage then the mortgage lender has got to approve for you to now assume the mortgage so in the case of buying subjective to the existing note the mortgage lender is not involved whatsoever in approving or disapproving or turning you down or saying it's okay for you to make the payments so you see since you’re buying subject to, that mortgage is going to stay in the seller's name. When I first heard of this strategy way back in 2000 my first question was who in their right mind will agree to leave the mortgage in their name and trust me to make their monthly payments for them? It's like I could stop making payments and you know ruin their credit or whatever. I mean why would someone agree to do that, and I quickly learned and discovered that the higher the motivation that a seller has to sell then the more willing that they will be to agree to this strategy. Optimized Investors real Estate Investing is a podcast designed to give you REAL strategies and techniques that will enable you to go out and do a deal after listening to our podcast. We don't waste your time with things that will hopefully get you a deal in 6 mos to 1yr from now, but actual information and resources that you can utilize today. Don't forget to subscribe to follow us and share this podcast with your friends. Want to learn even more strategies and techniques? Get your copy of the Book: No Money No Problem No Money Dow Real Estate Investing at https://marbarbooks.com
What this episode covers
We all want to find that magic formula that we can use time and time again. Buying a house or property subject to the existing mortgage note actually means a seller of a property is agreeing to sell to you or your entity a real estate property and they are agreeing to transfer the title or the deed or ownership to you while also agreeing to leave the current mortgage in their name, and you agree to make their payments. This is that GOLDEN TICKET strategy that you have been looking for. People think that it is difficult or that it cannot be done, but you are WRONG! Now just to make clarity on a point, we're not talking about assuming a mortgage because when you assume a mortgage then the mortgage lender has got to approve for you to now assume the mortgage so in the case of buying subjective to the existing note the mortgage lender is not involved whatsoever in approving or disapproving or turning you down or saying it's okay for you to make the payments so you see since you’re buying subject to, that mortgage is going to stay in the seller's name. When I first heard of this strategy way back in 2000 my first question was who in their right mind will agree to leave the mortgage in their name and trust me to make their monthly payments for them? It's like I could stop making payments and you know ruin their credit or whatever. I mean why would someone agree to do that, and I quickly learned and discovered that the higher the motivation that a seller has to sell then the more willing that they will be to agree to this strategy. Optimized Investors real Estate Investing is a podcast designed to give you REAL strategies and techniques that will enable you to go out and do a deal after listening to our podcast. We don't waste your time with things that will hopefully get you a deal in 6 mos to 1yr from now, but actual information and resources that you can utilize today. Don't forget to subscribe to follow us and share this podcast with your friends. Want to learn even more strategies and techniques? Get your copy of the Book: No Money No Problem No Money Dow Real Estate Investing at https://marbarbooks.com
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Epi03 Golden Ticket - Buying Properties "Subject To"
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