Seller "subject To" Motivation
I visited john Locke's page and found it VERY interesting. In my area, Chicago, properties are going fast, sometimes ovr ask and if they are priced right in 1-2 days of hitting MLS. What would motivate a seller to do subject to and discount his equity in the property & walk for U-Haul $ ? Does he come out on the back end ? 
[addsig]
You have to convince the seller that he doesn't have as much equity as he thought. You should read these two articles by Bill Young called Using Financial Judo Series (Part 1 of 2) and Using Financial Judo Series (Part 2 of 2). Read both articles carefully and it will explain how to convince the seller of the amount of equity he has. Yes, with $Cash$ subject-to investing you get paid 3 times: upfront, cash flow, back end. Sweet!
Tanya
Thanks: I'll read it.
Hey Tom B.
I'm a student of John's from West Chgo, IL . There are many reasons why a seller would do a Sub-To:
Behind on their payments
A bad experience with a Realtor
They couldn't sell with a realtor...(good one)
Just want out, transferred, divorce
Separating, having 2 house pymts ea. month.
Depending on the house, no equity can be a good thing! Buy John's manual, it'll be the best investment you can make for $150 bucks! Everything you need is in it...the presentation (most important), forms, scripts to use. Q's and answers from both the sellers and the buyers points of view.
Plus you'll get 24/7 e-mail support with his personal cell phone # (to walk you thru deals) FOR LIFE!
Hope this helps,
www.pbodys@ameritech.net
Clif
Hey Tanya,
Thanks, you pointed me towards the articles a while ago and they're GREAT!
Extremely good reading
You go girl
Clif
Clif,
No problem. I just became apart of the $Cash Now$ team. I've been reading his stuff too. John kept enticing me when he kept saying that you get paid 3 ways. I had to check it out for myself. I received an e-mail as I write that my postcards are on their way...
Tanya
Good for you Tanya,
I became a part of the team about 2 weeks ago and am ready to firing this thing up.
I did my postcards on my comp using Windows imaging...was very easy and versatile....printed about 500 in less than an hour....Went from John's template...and looking good! The 3 paydays are excellent!
Who would've thunk it
Clif
roztom,
Glad to meet you.
I have students in Chicago doing Subject To deals so I know it can be done there.
At last weekends workshop there was a new student of mine from Chicago, who told me had plenty of leads he just did not know what to do with them, now he does.
There are those that just need out for many reasons and do not have the time to contact a Realtor or sell the property themselves, these are Subject To sellers my course along with my personal e-mails to my students tells where they are and what to look for.
Welcome on board this board, there are plenty of methods of investing, you have to find out what will work for you.
John $Cash$ Locke
Thanks Guys & Gals !!
This really has me interested, now. I'm curious: What happens to title ? Is this a sale or is it only a contract sale ? or is it not recorded ? Also, what prevents liens or future liens from getting on title to prevent future sale/transfer ?
Tnx Tom B. [ Edited by roztom on Date 05/28/2003 ]
An additional Thought <IMG SRC="images/forum/smilies/icon_wink.gif"> Are there other exit strategies beyond the 2 yr refi. Also, downside risk. If rates go up & values fall & your contract sales price isn't competitive then.... ? How do you exit ? Or is the buyer locked in because they contracted in the future at an agreed upon price ?
Sellers Att'y: Do they throw a wrench in the works ?
U are Great !! Tom B.
<IMG SRC="images/forum/smilies/icon_rolleyes.gif"> [ Edited by roztom on Date 05/28/2003 ]
What is the" Cash Now team"?
Hey Everyone, i just recieved johns' package this week and have already read it about 5 times. Now i am starting to try and memorize the script. Also went to my very first ever rei club meeting in plymouth meeting , pa. last night. What an experience for someone who never tried any of this before. Now comes the hard part( at least for me) trying to find a good rei attorney to start making sure i have the right paper work. I know this is going to work, and knowing you have john in your corner makes it that much more exciting. If you havent gotten his course yet, you really need to check it out. Thanks John.