How to buy Real Estate Subject to the existing mortgage

Purchasing a home subject to the existing financing offers many benefits.  From eliminating the hassle and requirements of dealing with a bank, being able to close on a property immediately, not needing to come up with a huge down payment, to being able to simply offer more money to sellers than any other investor while still turning a massive profit.

There are two primary reasons that we are able to beat the majority of offers from other investors.  We are able to close immediately and/or offer a higher purchase price.  Watch this video to find out more

Some types of houses make for a better investment property than others.  In this video, we will explore the logic behind why I typically attempt to purchase average, or slightly below average homes.  NOTE:  This does NOT mean buying properties in the ghetto or other undesireable locations.

Finding motivated sellers is the lifeblood of your business.  There are many potential avenues that you can take that will lead you to potential clients, but it is important to find marketing strategies that work well for YOU.  Here we will explore several techniques including public records and leveraging relationships with certain professionals, how to turn yourself into a walking billboard so that everyone knows that you buy homes, online advertising, as well as how other investors themselves can be your best sources of leads.

Public records either online or at your local county courthouse can provide a wealth of information of people who may need to sell their home.  Find out how you can use these sources to obtain pre foreclosure lists or probate leads

Ever see someone on the street corner twirling a sign advertising a local business?  While that may seem silly, the truth is it works.  While you don't need to dress up in a silly costume or carry a big sign to twirl, you can easily transform yourself into a walking, talking billboard while also maintaining your dignity.

What is online marketing and how can you take advantage of it.

Wholesalers already put in a ton of effort to find and contact motivated sellers.  Unfortunately for them they need to find a seller that is also willing to accept a ridiculously low purchase offer in order for the wholesaler to be able to make the deal work for them.  By maintaining a healthy relationship with your local wholesalers, you can turn their failed leads into successful sales.

Explore the purpose of the initial contact with the seller over the phone

A brief listing of what documents need to be signed during the transaction.

**PLEASE NOTE:  Updated 2/16/2023.  These sample contracts and agreements are for educational purposes ONLY.  State laws concerning real estate transactions vary from location to location and a contract that may be suitable for use in one geographic location, may be missing key verbiage required in a different location.  Please consult a professionally licensed attorney in your area prior to using these templates.  Neither myself, nor Udemy is responsible for any potential adverse consequences of attempting to use these templates before being certified by your lawyer.

Some simple do's / don'ts during the initial appointment.

Purchasing a home subject to the original financing is a way to acquire properties, but what do you do with it once you own a property?  While you can turn it into a rental, it is often very easy to turn around and sell the property using owner financing under better loan terms, thereby creating a gap where the money coming in every month, is greater than the amount you pay creating a lifelong stream of passive income.

Insurance is often the #1 reason that banks enforce the due on sale clause.  Here we will talk about the basics of how insurance paperwork needs to be set up in order to prevent this from happening to you.

The due on sale clause is a statement in the loan agreement that the seller originally signed with their bank stating that if they ever sell the home, the bank has the option to demand repayment of the loan in full immediately.  Find out the truth about this clause and ways to avoid the bank calling the note due.

See how you are able to pay full market price for a property and still turn a quarter million dollar profit by selling the property using owner financing.