Summary of Full Breakdown of Buying a House Subject To in 2024! (NO MONEY DOWN)

Video Summary

The video titled "Full Breakdown of Buying a House subject to in 2024! (NO MONEY DOWN)" presents a comprehensive guide on executing a "subject to" real estate transaction, emphasizing a step-by-step approach for potential investors. The presenter shares their personal experiences and strategies, aiming to demystify the process for newcomers.

Main Financial Strategies and Market Analyses

lead generation: The presenter highlights the importance of generating leads and identifies four primary sources for acquiring deals:
- Prop AI: An AI tool that engages with sellers to generate leads from foreclosures and expired listings.
- Loi Blaster: A tool used to reach out to real estate agents for potential deals.
- Referrals: Building a network that can provide leads through recommendations.
- Community Engagement: Utilizing a paid community to find deals shared by other members.
Understanding Seller Motivation: The presenter emphasizes the need to ask questions to uncover the seller's pain points, which can lead to successful negotiations.
creative financing: The video discusses the benefits of creative finance methods, particularly the "subject to" strategy, where the investor takes over the mortgage payments without assuming the loan officially.
Community Support: The presenter encourages joining a community of real estate investors to share deals and resources, allowing newcomers to bypass the steep learning curve.

Step-by-Step Methodology

Generate Leads: Focus on identifying potential deals through various channels.
Initial Seller Contact: Engage in conversations with sellers to understand their needs and pain points.
In-Person Appointment: Schedule a visit to the property to build rapport and discuss options.
Follow-Up: Maintain communication with the seller, allowing them time to consider their options.
Close the Contract: Once the seller agrees, finalize the agreement and send it to a title company.
Open Escrow: Begin the escrow process, where title and escrow companies check the property’s records.
Resolve Issues: Address any problems identified during the title search, such as liens or lawsuits.
Finalizing the Transaction: Complete the deal, ensuring all parties receive their payments, and secure the property.

Presenters/Sources

The primary presenter is Pace Morby, who shares insights based on his experience in real estate and his community of investors.

Notable Quotes

— 00:24 — « A lot of people will shy away from buying a sub two deal and instead they'll wholesale a subject two deal because they go, 'I'm not ready to hold a rental and also I want to get paid upfront.' »

— 04:28 — « You could skip the line on all of these things if you were just in the sub2 community. »

— 27:47 — « When you get a contract, it's like getting a ticket to a horror show, and the horror show is the escrow process. »

— 28:10 — « We expect it, we wait and we assume, and so when a deal something like this pops up, Cheryl Lynn was like, 'Oh my gosh, you're not going to cancel on me, are you?' and I go, 'No, we're going to figure this out.' »

— 33:06 — « Gosh, this makes me want to go out and get like 10 more deals this week. »