Video Notes

  • How long would it be Ok to just be added to the current insurance instead of changing insurance completely? Buying sub to and holding as a rental. Who do you recommend for insurance?
  • I have a rental that is owner financed that I would like to wrap. Purchase was 166k, I have owned it for a year and make essentially no profit after taxes etc. I owe 166k at 7% amortized with a balloon after 10 years. The payment is $996 monthly and I get $1350 for rent. Taxes are $2100 and insurance is $1000. The tenant wants to buy the house but can get qualified because of recent divorce. Any suggestions? Addendum to my question, I paid $166k with $16,600 down 150k mortgage amortized.
  • When buying subject to and selling on a wrap, what steps can you take to not originate the loan in lieu of getting around Dodd Frank?
  • When can we expect to learn from your partner on lead gen?
  • How can lease options be used in sub2, I believe it’s called sandwich lease option? Understand you cannot do sandwich lease options in Texas.
  • My seller is asking for a breakdown of how insurance is handled during a wrap. I’ve explained in drawing, ex… (Chapter 14a: James Jenkins’ Insurance 27:50) CCF.com Is there a better way to demonstrate the insurance layout?
  • How would someone take down a deal Sub To Liens? The seller has HOA Liens from an HOA that does not have the power to foreclose. Would someone be able to take these SubTo, Renovate then Sell OF or Retail while disclosing the UL Liens? Trying to get creative on this one! Thanks as always!
  • What is the difference between option fee that you pay your seller and earnest money deposit? Are they both refundable if deal does not go through? Also what to do if seller decides to cancel option prematurely or changes their mind at or prior to closing?
  • Can you share your underwriting guidelines that you use to create an owner finance QM?
  • Do I have to live in Texas to be a part of the Executives Group? So the deal analysis would be live streamed to me?
  • Will the general marketing ideas be available to us if the meat and papas are in the exec group?
  • Scott H says I have to get my wrap buyer to sign the 1st lien disclosures and due on sale clause disclosures myself before he can close the wrap. What is the best way to present that to my buyer?
  • Monthly insurance payments start stuffing a piggy bank which will be liquidated to pay the next year policy. You include language to the buyer that IF a flood plain changes, that flood ins will become an addt’l payment in the future of the prop then falls into a flood zone?
  • Hey Grant… what’s a deed of trust?
  • I hear about how you and others did their first deals with no money out of pocket. By this, do you mean that you did actually pay for stuff at first (like contract forms) and then later recouped that money from your buyer’s down payment or do you literally mean you didn’t pay for anything at all to start with? I ask because I’m wondering whether I should pay now to have a contract ready BEFORE a seller agrees to sell me their house or if I should just wait first until they say yes and then go pay an attorney to draft a contract once they’ve agreed to sell me their house sub2 that way I know for sure that the money I paid to draft the contract will be recovered. Which way do you recommend?
  • In the lead interview sheet there is a question to ask seller if their house is listed with a Realtor or a listing agent. What things need to be considered about this if they say yes. I want to have an answer ready if they ask why because I myself don’t really know why or if that changes anything.
  • Is a 5 yr balloon payment absolutely off the table For a QM?
  • When the person on the Deed is deceased, who do you put on the TREC contract when buying a house? Can it be the name of the deceased as it is shown on the Deed and/or heirs?
  • What do you do when meeting with a couple as homeowners. He’s head and she’s heart.
  • If the seller agrees to take there money in installments. how do you set up that payment plan? If you give them a Deed of trust who sets that up?
  • ​What’s the best way to generate leads and marketing to get Subject2 deals?