When My OF Buyer refinances my sub2/wrap note, the bank and I are wiped out. (Paid off). Does this same process happen if I were to sell that same sub2/wrap note to someone like yourself who purchases notes? How do the lien positions look after the sell?
I am considering taking a property sub to where 50% of the owner is an estate. We already go that cleared up and have authority to move forward with the sale. What issues should I be aware of especially if I am considering keeping it for my personal residence?
I saw your GTMS 2020 Recession strategy video; thanks for that amazing insight by the way. I wanted to know what you would recommend for someone that’s in phase 1 in their RE career such as myself that’s in the process of acquiring assests. Should we be looking to sell the assests that we already have at the top for cash? Or should we keep what we have and find other creative forms of acquiring potential assests at the bottom?
When it comes to renovations on properties you acquire SubTo, what are the thresholds that you will not cross? For example, let’s say there is a property you acquired SubTo that is vacant and it needs a full blown renovation (down to the studs), would you risk a renovation ( that you will be seller financing ) in a downturn?