William Tingle
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They Told Me I Wouldn’t Need Cash When Buying Subject-To!
Alright, here’s the bad news. Forget about what the GURUs told you about how you don’t need cash or credit to do this business. Although buying sub2 is essentially buying with owner financing, sometimes these houses will need payments brought current or minor to major repair. This takes cash. There WILL be times when you will need cash or credit or a combination of the two. Don’t get me wrong, you CAN do some deals without either but if you are thinking about holding property without having at least the ability to get cash if needed, I just have one…
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Maximize Your Efficiency! Screen Those Seller Calls!
When I first got started in this business, I did everything the guru who wrote my course manual said to do. I had my stack of “seller information sheets” stacked neatly by the phone and when the phone rang (after I got over the amazement of someone actually calling) I would go through them line by line. At the end of the conversation, I knew a lot about the house, but not necessarily much about the seller’s motivation.Despite my “seminar graduate” technique, I still managed to pick up a few properties.These days I do things differently. I know that a…
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How to Overcome the Seller’s Objections When Buying Subject-To
It is my opinion that building rapport and getting your seller to feel comfortable with, dare I say “like” you, is the biggest step toward overcoming any fears or questions that they may have.Whether sophisticated or not, some sellers ARE going to have questions and you had better be able to answer them in a way that satisfies them. While that may sound scary, remember, no matter how little you know the seller will probably know less.The biggest edge you can give yourself, after having the seller like you, is being confident about what you are doing and how you…
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Frequently Asked Questions About Sub2
There are many ways to buy property. In the almost 3 years that I have been investing, I have bought with cash, bank loans, via sandwich lease options and my personal favorite, “Subject-To”.In my opinion, subject-to is the easiest, fastest, cheapest, least complicated way to acquire property, although contrary to what some will tell you, it is not without risk. Although in a lot of cases you CAN buy without having cash, I would not recommend doing so without cash or access to it. Agreeing to make payments on someone’s loan is a huge responsibility, and I think everyone that…
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Anatomy of a Sub2 Purchase
I am frequently asked how to put together a sub2 deal, so I put together this “play by play”.When I purchase subject to, this is how it usually goes………..1. Seller calls me from one of my lead generators. I prequalify them pretty heavily on the phone. They usually have a good idea of what I will propose before I set up an appointment to go out and see them. By this I mean that I have at least introduced them to the idea of me simply taking over payments on their property. I have a “close” estimate of what “they…
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Are You an Undercover Real Estate Investor?
Is there anyone in your town that doesn’t know that you buy houses? If so, you aren’t doing as well at marketing as you should be. I hear investors saying all the time that they aren’t getting seller calls and subsequently aren’t getting the leads they need to find deals. I say step up the marketing and the sellers will call. Not only that but if you are shouting to the world that you buy problem properties, eventually you will be known for what you do and sellers will call you strictly on your reputation. THAT is cost effective marketing.I…
