Video Notes

  • If you buy subject to and you do wrap around, just in case later down the road, the bank calls the mortgage due, what are the options to save the end buyer? Can I refinance, pay off the underlying mortgage and continue to do wrap around with the end buyer? If not, how can this be solved?
  • When, after a subject to, I do a wrap around, do I buy another insurance for the property, or the end buyer would have to take care of it? Do we keep two insurance policies, that is, the one I added when I bought the property subject to, and the second when I sell it wrap around? Or, do I just add additional insured the existing insurance?
  • Who do you recommend for a 3rd party to service these notes? Are there national companies or a state by state basis? In FL.
  • What percentage of your notes have refi-Ed and/or defaulted? Should this be expected in 5-10 years?
  • What are the characteristics of a good area for a wrap deal? Areas that will have buyers for a wrap deal.
  • If someone has a Va loan on a property can they sell it to me sub to and get a Texas Vet loan on another property? Thinking of giving 3% at closing and having the seller carry the rest on terms.
  • Is there a way to wrap a mortage that has a 10 year ballon payment?
  • Can you wrap a mortage that was used to purchase a 1031 exchange property?
  • I’ve heard you say before that contract for deed is a preferable option if your state allows it rather than doing wraps. Since I live in California, would you suggest that this be my acquisition and disposition method or should I still aim to acquire via sub2 and only dispose of it through contract for deed?
  • Grant mentioned providing, selling leads to us. What list ,leads is John using to close the deals? What script is John using to talk to sellers?
  • What are your thoughts about marketing techniques such as cold calling, text marketing or RVM vs. direct mail?
  • How do you compensate an acquisitions manager for closing a sub2 deal?
  • I’m meeting with a potential acquisition partner tomorrow. He has no RE experience yet great sales experience. I want to give him a script for FSBO’s Is this the best way?
  • I have been doing everything myself. I am confident at most parts of the business except admin. I can afford to hire my first person should I start with a va or Acquisitions manager?
  • Can you go over when to get out of your own way and at what point you should hire? Should you hire for where you want your business to be or wait till you can’t keep up with the tasks and then hire?
  • Grant if a CFD wasn’t a pain in TX would you use it to sell to end buyers vs a wrap? why/why not?
  • Should I start marketing while I do not yet have a contract yet or buy a contract first an get an LLC before starting? I’m in California for reference.
  • The question was about what should I do to protect the end buyer if the bank calls the loan due.
  • f my LLC with my partner is 50/50 do we both have to sign all docs or can either of us just sign? Maybe we should be 49/51%.
  • Ronnie, what would you say that most attributed to your success in this industry?
  • Grant, can you elaborate on why a VA loan is hard to sub2?