Video Notes

  • If direct marketed to homes as targets for sub2, what criteria would you use for those mailers? For example would you use free/clear targets? Homes with X% equity supposedly in them? What’s a great price (or value) vs local rents equation you’d use? I really need to leverage a combo of driving for dollars, networking, and things like direct mail or cold calling as things have stalled out.
  • Were there previously slide outline notes for the insurance structuring chapter? I want a handy checklist of how things need to be structured for the various deal types i.e. sub2/OF and free/clear and OF etc etc etc. Something clean and complete so I can have that as a process which needs to be executed on each deal…kind of thing…so a VA or an asst can handle that stuff.
  • Chpt 14 ins: If you ink a POA with the seller, and open an acct at that major so that the POA is on file in the event you need to cash an ins claim check, is that the ONLY reason that acct is being opened with you AND the seller on the named acct? What else may it be user for/should it be used for? Are there any reasons that this may bite me (my LLC) in the a**?
  • Also, if you have replacement value and if that is traditionally designed to cover the seller’s mortgage companies owed balance, and if we structure a wrap to an end buyer for a higher loan amt (of course we will!), then how does that policy need to be structured so that our higher balance is paid out and so the seller’s mortgage company is also covered and so our higher wrapped loan balance is covered?
  • When I was sitting in the Closing for a house, one of Scott Horne’s people asked if they were supposed to write a restriction into the contract about paying off the loan early. Can I restrict the payoff or the sell of the house by my Buyer? Or can they only write an early payoff penalty?
  • I know the Flip pricing model of ARV times 70% minus repairs to buy a house from the Seller. For Seller Finance purchases, you talk about paying for the repairs out of the monthly “Play Money”. Is there a way to subtract the repairs in the Owner Finance model when buying from the Seller?
  • How are you getting the notes? I mean generate the leadsand get the deals.
  • ​To whom are you selling the notes to? Or are you just wrapping them and keeping them?
  • Grant you sell notes? at what %? how do i calculate the discount? etc.
  • So if I buy properties cash and create the notes will you buy them from me? I will put the buyer in place run the RMLO process the deal will be the buyer puts 10% or more down and the finance terms will be 10% interest and 10 20 or 30 years I want to sell the notes at 90% of upb
  • Grant when you have done a wrap on a property you have acquired via sub 2. End buyer has been in the house 3 years and the bank calls the loan due. What happens to your end buyer any steps you take?
  • When I tell people that I am going to make payments on their behalf for their mortgage, they then ask, “will the mortgage be in your name?” I tell them yes it will be in their name and they decide they don’t want to do it if it is in their name.
  • Do I need to find a local real estate attorney down here in McAllen Texas? Or can I use Scott horn for my deals down here?
  • Have you been noticing longer time to sell an owner financed house? I’ve seen increase these past 6 months in DOM with other people in my area as well including myself.
  • I bought a house sub-to with a trust.. I don’t do subject to very often and from what I understand, this is the best long term “safety precaution” I know that this is how you bought your personal home. my question is how do we structure the deed/paperwork when we go to sell it… which is now… We don’t want to scare the new buyer out of the deal… its a 235k sales price, 30k downpayment.
  • If I buy a property cash and create a note at what price point will you buy it meaning what percentage of discount? Example I buy it at 100k and I get 10k down son 90k is left and the ARV is 120k.
  • I’m selling my private home on a wrap… my question is should I create a LLC prior to selling the property, and sell the property through my LLC?
  • Have you considered having a separate “deal analysis package” that we can pay extra for? Maybe someone from your team could do it since your time is limited for that type of service. ​We can have appointments set just like at the doctor lol.
  • How local/community does a bank have to be to be CCF-friendly, Grant? E.g., would Frost or Pinnacle be good ones?
  • Hey Grant. I’m based out of Minnesota I’m working with a seller right now that has 25 single family rental properties. I’m not sure what the right strategy would be to make money on this.
  • What if the notes is not seasoned? I will be buying the property and creating the note. will you buy it at day 1 and do a double close? and in this case at what % will you buy them? 87% or more
  • What would be a fair price to pay 4 a wholesale deal if someone has a note and they want to sell it to me. 1 2 3 4 5 k.
  • Are you closing on the seller finance deals with your own money? If not, how long is your option period so that you can find a seller finance buyer? to piggyback on the deal analysis team on your side maybe creating a excel spreadsheet would help analyze deals.
  • Not sure if I dozed off at some point, I haven’t seen anything on your seller financing package explaining how to find leads. Can you help and give pointers please.
  • I got my first Rental recently with hard money. It is currently rented what banks do you recommend to refinance out without needing too much paperwork?
  • I have a question concerning a possible “sub to” deal. The potential seller is interested in what I can offer & I asked her to get her mortgage data from the lender. ​I’ve followed up with her several times & this particular lender is really give her the run around on why they won’t/can’t provide that info. I, in my humble opinion, is hers & she entitled to ask for it & receive it. any suggestions?
  • Since we bought the house sub-to in a trust, and are doing a wrap.. would it be ok if we actually just deeded the property to the new buyer with a note?
  • You say you did well in the down market but in the down market, don’t sub2 deal become more risky because property values are dropping and you run the risk of being upside down on your sub2 deal.
  • Are lease options illegal in TX? Ever a good idea/alt to seller-finance?
  • What was thy hypothecation bank in Waco again?
  • I have a fear of not being able to get a seller finance buyer if I were to get it under contract. have you ever been in that situation? maybe when you were newer to the game?
  • I’m listening to chpt 14 now. Do you mandate to the end wrap buyer that they have to use your insurance agent so that this is done properly? Or, do you just mandate that you have to coach the buyer’s agent through the insurance so that we do not unnecessarily trigger the DOS via a sh*t ins policy structure?
  • Just heard him speak to this issue. I bet my life most end buyers want sh*t policies to save $. Are you just then demanding, as part of the contract dealings, signed off by both you and end buyer, that you get contact with the buyer’s agent so this is not f’ed up?
  • Team, why are folks using a trust to close the acq on sub2s? I imagine they feel that cloaks what is happening in some secrecy, but even that act violates most lenders DOSs. What other reasons?
  • Who are my Northern Colorado CCF members?
  • Can you explain how to do a lease for the remainder of the loan and be in 2 position to prevent liens?
  • What is the best way to smooth it over with the seller if the deal didn’t close?
  • We have a house we bought sub to in a trust, could you help me out with the best way to sell the house on a wrap-around mortgage besides assigning the trust to them? In an effort to not scare them off
  • A claim, claim check process covered, thanks, but what if the buyer doesn’t have the cash to cover the deductible?
  • If I have a note and its wrapped, can I sell it partially for a 5 year period and get it back and how would I structure it?
  • Can you explain how to do a lease for the remainder of the loan and be in 2 position to prevent liens so it doesn’t change title and trigger dos?
  • Could you please email me the contact you use to do the deals? You mention a law firm you use snd you mentioned we can leverage it to piggyback on the deal analysis team on your side maybe creating a excel spreadsheet would help analyze deals.
  • One of the modules Grant explains how to fill the contract. (wish he expanded on it) on that module he talks about a law firm that did it and that we can leverage it from him. thats what I understood
  • Did you place contract language or addendum language on the CCF website? You guys may use something that enhances what an attorney here may suggest I use etc.
  • I know you are looking to grow your company and replace the people you had to let go. I may know someone what is the best way to get in touch with you?
  • Are sub2 wraps going to be legal in Texas now?
  • I was asking for a copy of the contract you use from Horn and associates and the other question was that if you created an excel spreadsheet that would help us analyze deals ROI etc