What Is Subject To In Real Estate | Explained
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- Опубликовано: 26 авг 2024
- Learning exactly what Subject To is a HUGE benefit in running your real estate business. In the 5th video of my 6th video series we break down exactly what Subject To is and the benefits it will bring you to become more successful in your real estate business!
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#RealEstate #Investing #CreativeFinance #Subto #RealEstateInvesting #PropertyDeals #RealEstateTips #Finance #InvestingTips
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❎ I am not a CPA, attorney, insurance, contractor, lender, or financial advisor. The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a RUclips video for entertainment purposes ONLY ❎
I watched this video with my 9 year old son. After Pace explained subto, my son said, "We need to buy stuff subto!" 😁 He sees the opportunity, too!
I did this on my first property at 24 with my grandfather. Had no idea that this was a thing to acquire other property. Thanks for the video
Watching this video got me thinking "I wonder if I could find a subto for a more modern and bigger house than mine, and then rent my house (MTR or LTR)?" Awesome content, much appreciated!
Wow, this is amazing creative financing way.
As an immigrant came to this country with $200 23 years ago without proper education and now owning vacation rental and multi family rental. I always try to think outside the box and this one is one of the BEST way to get in and to grow in real estate games!
Thank you!
Thank you I been trying to explain this the someway ! ❤😊
Glad you got some value from it
Deep into the rabbit hole of investing into real estate. Dont have much money to put into a down payment but I want to jump into the real estate and renting out properties! This method seems AMAZING for someone like me but also sounds a little too good to be true! I really want to keep learning though! thanks for all the information you are putting out!
Thank you! Here's a video of how I did a deal with zero money out of pocket: ruclips.net/video/hlEwzhBRDko/видео.html
This was very helpful. I did my very first deal this month. We took over my father in-laws house to help him out. I never knew this process would be so easy. I am addicted now, on to the next property 😂
Great job!
The question I had as I dive deeper is is the contractual agreement because the car and title is still in someone else's name and you're making payments are there has to be a contract securing your ownership and the same thing with the properties. Just curious on how you can get the deed into the sub to buyer's name when the deed is held at the bank. I want to learn more
@@toddmiller7653 I think he used a “warranty deed” my question is if sub2 uses an agreement for deed as well or just a warranty deed or it is the same...
In other words. Is a sub2 structure with agreetment for deed? Or warranty deed? Or both?
@AnthonyJohnson-pf9bc, How are you since your last post? If you ever need help with funding your transactions, feel free to reach out. I would love to help anyway that I can.
This is excellent. I have literally cleared my schedule to focus all my time watching your channel.
Pace thank you so much for posting this amazing content. I am so looking forward to being a person with wealth so I can be a blessing to others. My financial situation is sticky and I have not one dollar to put into this passion, but watching your videos makes me think I can still move forward if I'm just creative and well versed. As soon as I can afford it, I look forward to becoming a SubTo student! What you are doing is so genuinely kind, my family's future is forever better thanks to all I'm learning.
I’m with you on every point.
How's this been working for you?
This content is blowing my mind rn! No body I've seen on RUclips keeps it 💯 like this.
That #PaceJam mural is definitively amazing. Pace u r a true player in the game. The GOAT in this case might not need a fist full of rings to confirm. This is #TheeBest REI info I've found in all my years of interest in the subject. Eat sleep and breathe #sub2 from now on that's my bread and butter.
Pace... I cannot tell you how much I appreciate what you do for people and it is one of the main reasons why I would pick you as a mentor. Because to me giving back is the best way to receive something... by by helping someone I'm helping myself...
I met you over the weekend at scale and Escape & it put me over the edge.... So, IM GOING ALL IN WITH PACE MORBY!!
and icould not possibly be more excited!
John. I appreciate you brother!
@@PaceMorby check it out colon I joined sub 2 last night as an I believe it's executive member and I'm super excited to get started bolstering and SCALING my REI business w some of your guidance.. met and spoke with you a little bit at scale and escape this last weekend and after that I was all in buddy so now you got me under your wing
@@PaceMorby I also want to point out to you that Janelle did a heck of a job with me and getting me rounded up and I appreciate her very much and I thought you should know that
You're amazing and it was great to meet you! I had an awesome time during that mastermind and meet up. Will I be seeing you at the elephant challenge this Thursday too?
@@PaceMorby unfortunately, I gots to miss that one. Pleanty of work to do! But I do hope to speak w you soon... and am looking very much forward to the opportunity to get some business done between us...
to be continued...
I truly appreciated this video. it just broke down my approach in another way. i just got to Dallas and I'm in motion. THANKS.
Thank you! You got this bro
L🤍VED this breakdown of Subto!! I'm working on getting a vehicle or two via Subto for my Turo business. Would love to know and understand what contract to structure and how to go about it (i.e., Bill of Sale that simply states I'm taking over payments to the lender?!) I've put an ad on Craigslist to a target audience of people who can't afford their payments. I've replied to 9 Craigslist ads this week and got 2 responses. Just a matter of time!!
Hey Kimi. I've had the same thought about creating a Turo business. Can you tell me what contracts you use to structure these deals with potential sellers?
I have to ask what are you going to do with the cars? I know someone in Phoenix to starting a car rental business
That sounds great .I'm bout on the same lane on that I wanna start at Turo myself
This was a great intro to the concept! I am looking forward to seeing how you structure this deal so that the seller feels safe in knowing the mortgage will be paid and how you handle the situation if the former owner wants to purchase another home down the line.
Hello@michellejohnson1766. How have things been since your last post? Let me know if you need any guidance through the paperwork. I'm a Top Tier TC and also a Subto student. Would love to help you if you need it.
Great question!
I love your RUclips playlist because you have more content in this playlist that you breakdown freely than most other training courses I have taken that they say was full training. I love it, thanks.
I can honestly say i have become a great saver to save up enough money to get my first rental property but i am not sure how to structure a creative finance deal where i wouldnt get screwed over and exactly how to find them in smaller markets. Thank you!
Hey Pace, that comparation on subto with a car it is just an aha! moment for me. It make me feel more confident and secure and anxious to make my first deal. Thank you so much for sharing your sabi expertise with us. Blessings!
How are you gonna transfer the car title to your name with lien on it from the seller?
What does the seller get in this besides getting rid of the car and future car payments! Seller could easily sell it to someone willing to take over the lein and pay extra bit for him. Educate me please
Explain to me why the seller would like to carry on an existing loan under their name? In theory if they wanted to get another house or car, they wouldn’t be able to bc they have a pre existing loan under their name, right? Secondly! Why would the seller trust you with his loan? What if you start missing payments ? Then it starts to effect the sellers credit
Very helpful!! I’m sure you have content on this but I’m interested in how you get the tax benefits/deductions (depreciation, mortgage interest, etc.) with SubTo. I’ll keep jumping through your videos. Thanks for this simple breakdown!
Loved the video. No one has ever explained such a complicated strategy in such an easy way. Loved the car example. I'm trying to join the group. Keep up the good work
Appreciate it! Squad up in our free Facebook group while you're at it paceapproves.com/freefb-ytc
That is so crazy one of your ads popped up before this video and I noticed your logo and just kept thinking about it and how you have branded yourself well and few mins into the video you literally said what I was thinking.
Hi Pace, Powerful! Thanks for this. New to this Love this.This is what I need. Working on my 1st deal right now that I don’t want to miss. Seller hasn’t missed any payments but wants to downsize. The mortgage is really sweet. Pays $470 a month. In good shape just a lil outdated. Can fetch over $1500 in rent
Your credentials is your name. Pace changed the game and is by far the GOAT when it comes to real estate. I've never been more excited about anything in life, then soaking up all the good sh*t from pace's videos. Truly amazing and thank you kindly for getting that spark back into my life! Truly grateful 🙏,
REAL SH*T ! !
P.S. If one of your subto students drops out for any reason, let me know ! I promise I'll be the hardest workin MF you ever seen !
Team Pace, forever !
Our SubTo family is the BEST!
@@PaceMorby I want to be a part of this family!!!!!!!!! I’m in AZ!!
Very interesting. Plan to start digging in to the channel and other links and info.
ThanQ Pace! Cant wait for my 1st Buy and Hold through Creative Financing!!!
Boom!
Wow how wonderful all this information is I’m just learning and I hope you see this Pace and help me in my journey thank you so much
You are so welcome!
I am just getting started and your videos will definitely get me to where I want to go! Thank you!!!
You got this!
Man, I have so much to learn. I use the 3 c’s for everything. Need to change that. ✌️
Pace is always bringing tremendous value to the community. As a student I can tell you he truly believes in giving more than he receives. If anyone needs any help closing sellers or structuring creative deals let me know. #squadup #subto
Crazy how much value you give, appreciate everything
Love your videos! Do you have video of explaining the excat details on how the subto gets done?
@yoelfriedman4157 Hello! He has discussion this in different videos. You can always JV with a subto student who will have the correct documents. I'm a transaction coordinator . Let me know how can I help you in the future.
OH MY GOSH - - - Thank you for this lightbulb moment .... So Blessed with this team 😭😭😭🙏🙏🙏💲💲💲
Love this! every time I re-watch a video, I learn something new...amazing stuff!
Hey Pace just joined your Facebook. I love the way you explain things and give great examples. I am looking to getting into subto loans so that someday I can do a few deals and see if this is something I want to do. I really appreciate all the information you give!!! Thanks brotha
Hi Mathew, Sub-to student here! If you need any help getting started you're more than welcome to contact me. Joining Sub-to was the best decision I've made to jump start my Real Estate career! ✌🏼😉
@@brandygoritschnig5221 Hey Brandy I would love to connect and ask you some questions. Is there a way I could contact you directly?
Great information broken down really well. Thanks!
Glad you enjoyed it!
PACE.... you are so solid. Much appreciated.
Very informative and I like the fact you are just a regular normal guy. Not a stuck up stuffy know it all. Look forward to learning a lot from you.
Saw you at Limitless Arena!! Just starting out here trying to learn 👏🏻
Welcome! You got this
Pace really appreciate giving so much value I am part of the community now
I was in your house last year! Jerry was still the owner but we did a 1 on 1 interview about my first deal. Now we should do a 1 on 1!
Hey, pace! Man, I can't tell you how much you've made an impact on my life. I haven't seen the results yet, but I know it's there! I am trying to get my business going and also I need to get out of the place I'm at now. I really need help now. I've been laid off of work for almost a month now. Bills ARE catching up, and I'm afraid I'm gonna lose the little I have. I've been studying now, and I need to implement it. Thanks buddy
Pace You explained subto like a champ!!! Thanks to you creative financing is becoming so much clearer...THANKS!!!
Thank you for your easy to understand explanation of sub2. Had no idea what it was and had to RUclips it. Now I can't wait to learn about other creative financing methods.
Interesting & informative information, thank you for spending the time and effort on sharing .
Hey Pace Love your stuff! I've got to link with you! I've burned the boats to start my Real Estate Company this year and have been led to your content. I've done a few deals which include flipping, rental and Airbnb in LA and Indy but my wife and I want to go all in and I believe Subto might be the way to go for us. We have 3 kids and so there is no option of failure just forward motion. So I'm hoping you will read this and we can connect. Thanks for the content and recourses talk to you soon!
This is awesome information { Newbie sir watching and learning your tehniques
I love this idea
Thank you!
I.M. Hooked!!! I cant believe the simplicity of your method and also enjoying the video as such. Thanks soo much for all juicy info again! I wish this works in Europe also…
Hi Pace, I'm a Gator, I have not done a deal yet. I love the education you provide. Looking forward to learning and making deals. thanks
Say I found a property and the owner needs to move fast, he needs $5000 to move, the ARV is $860,000 the mortgage is $802,00, their payment is $3507 a month and they are 5 months behind. How would you handle that? How much money would I need to do the deal? How much would you put into the deal? What is the exit strategy? If we were to j-v this, how much would we make on the deal? Who would have ownership?
A couple of years ago I started a business with a friend. We recently BRRR method’d our first air bnb purchase. We are trying to purchase our second and realize that is not the way to go. We are craving mentorship and knowledge and want to figure out how to get our first subto/creative finance deal done. We will be following and studying
Pace, watching you listening to all your amazing information, I am 61, nobody believes me on my age, I have been working in lawn care service, I work for Elderly people who can't do the job, or pay the amount that most lawn services charge, I am being evicted, I live job to job, my pay is low, Mama says my riches will be waiting in heaven for me, I have a big heart for Elderly people,
A lot of people are in the same situation! That's why I created the Elephant Challenge. It holds a FREE challenge each month where I and my wife, Laura, train students for three days, and then you joint venture with my subto students. They have a team of lenders, transactional coordinators, unicorn real estate agents, and all the resources!
Sound like something you'd be interested in? Click - pacejmorby.com/invite
Not interested? All good, check out Creative Real Estate with Pace Morby facebook group - paceapproves.com/communityfbc and soak up the amazing free game on my RUclips channel - paceapproves.com/freegamefbc
Lots of resources are there!
I appreciate the video of what is subject to but you just covered the basic concept. now I have more questions. Does seller still get paid in cash? What's the process look like on paper in a contract. How does the conversation sound? When offering. It helps to explain situations with a why for the seller and a why for the buyer. Also what if you default on the payments? Who does the bank go after?
Wow! I love Your content Pace! I'm 45 years young and I'm just learning about creative finance and all it's possibilities. I hope to meet You 1 day, and bring You a deal. Thanks!
Fantastic! www.whereispace.com
This is amazing stuff. I am just starting and I have not been able to get a deal due the no cash . This gives me hope! Thank you Pace!❤
I'm in Paces community, There are definitely ways to get into real estate with little to no cash, and very creative strategies I'm so glad he explains this on his channel.
Wow, I'm blown away with the strategy!! Thank you, Pace, for the excellent content; I'm already hooked!
I am in awe of your teaching methods. I have bought books to try and learn this. I’m still not in real estate. But want to get into it.
Really looking to this idea. I will do more research. On Subject 2
Perfect. Just the education I needed! Now I finally understand. I don't have to fake it at my local REI. :)
Awesome
I need to get started have absolutely no experience
Pace and Ron are the 2 Subject to Kings!
Hi, Pace. I subscribed 👇Amazing video!!
Thanks glad you got some value from this!
Im interested in how you or others work around the "Due-on-sale clause" on most mortgage contracts when using "subject to"?
I currently own two homes, one is my personal residence and the other is my airbnb I just took live two months ago. I feel stuck because I want to do my cash out refi on my airbnb (I used the BRRRR method) but I know interest rates are high and I'm barely breaking even since it's slow season. I also want to move into a new personal residence and rent my current home to make profit. I just don't know what to do next but I'm excited to learn more about creative financing so I can stop taking out loans and using my own cash! You and Laura are the best you guys give out so much free knowledge I'm so grateful!!!
Pace! I’m a real estate agent in Scottsdale! I have a beautiful remodeled listing (Im also a GC) and need to move it. Also would LOVE to ramp up business anything real estate or construction! Let’s DO IT!!!!!
Sounds great!
Pace is amazing. Thank you for all the information!
Bro said find a guy to follow. Than do everything he did. The path to success has many leaders. Most want your money to help you. I think this guy is pretty legit. Looking forward to my 3 mill house.
Hey @BrookGarretson If you ever need a transaction coordinator to help you with paperworks, let me know I can help you,
What about the Due on Sale Clause in a mortgage? Has this clause ever been exercised on a Sub-To that you've done?
He don’t want to answer that question. Or how you find people that own mansions and aren’t financially savvy enough to do a basic prequal on someone buying their home. I qualify my tenants more than Pace says he gets qualified buying millions in real estate. Unlikely IMO but still doable
@@keenanfitzpatrick9104 Also, I've been trying to find out the benefit to the seller. I cant find any benefit to the seller, unless 100% of sellers are in a distressed situation and just need out.
I want a one on one! Typing to learn all i can about real estate investing!
Thanks for the breakdown! Very informative! I just moved back to California from Mesa a couple months ago. Just talked to my old boss who's a major investor and influencer in Phoenix and he's getting me started on sub-to and wholesaling. Thought I'd study up. Good stuff! Who knows? Maybe we'll meet up.
Hey @user-qs9ln5pt4u If you ever need a transaction coordinator to help you with paperworks, let me know I can help you,
Amazing information. Thank you very much for doing this. I have always wondered how I could jump into real estate investment and I just found my answer. I discovered you in Brad Lea’s show and you are God sent to me. I will follow your advice to the T. I would love to have a 1 on 1 with you, even if it is for 5 minutes.
Hey Dani! Thanks to Brad Lea for bringing you here to my RUclips channel. Appreciate you.
Appreciate your wealth of knowledge Pace!
I appreciate that!
Ahhh! so! you take over the loan and even though it's in someone else's name, as long as your name is in the deed/pinkslip/registration it's safe because the property is yours but the bill is in somebody else's name... even been doing this my whole life without realizing it . Thanks brotha!!!🤯
this is awesome. saw you at limitless and have been following you ever since. my big regret was not being able to find you afterwords to meet you!
Pace youre a blessing man. I appreciate you. I would love that one on one you mentioned in the video
Love Them Sub 2 Deals! Just sold one for 20k :) Love your show!
Hello Pace, this is absolutely phenomenal information. I am a Husband, Father, Pastor and looking to put all three in a better financial position. Thank you for such healthy information. Blessings 🙏🏿
Hi, where do I find property that can be used as subto? I have dealt with buying and selling personal property but never heard about subto. so who do we ask about sub to? Realtor or have to find a owner who would falls into that interest?
Salma. In this Sunday Service episode I explain where subto deals come from and where to find foreclosure data. ruclips.net/video/sK0yEYzme_M/видео.html
I’m just learning about your channel and creative finance. It’s very smart and interesting. I would like to know what the agreements look like and the terms within the agreements for these subject to deals. What happens if you default on a months payment etc.. can you touch up on that ?
Yes a seller that is in need to understand that you can help her get full price if we can agree to terms.. and you'll pay closing costs and all you need is to get a lilting more knowledge about the legal documents to complete the deal. One I recently learned ( grantor revokable trust / land trust.)-Kris Haskins.
Trying to get my first property!!!! I would love a one on one
You the Man Pace....I will be joining Subject real soon Man. Where's the links to the Zero to hero? You were talking abt
Damn ,this Dude is hella-awesome!!! Imma make some REI dough,following this Fella's programs,methods,trainings and leadership!!👍🏿
Thanks Pace, this is probably where I should've started with your videos. Great explanation of the subto. Hopefully, I can transfer this to the Australian marketplace. I'll definitely have questions in another video, but for now, I'm going to watch a handful of your videos and see what I can extract. 👍 found you while watching Grant Cardone videos.
Are they listed as your assets? Is it possible to get loans against them if needed?
With the car example it makes sense why the seller would want to pursue this deal, since the vehicle is a depreciating asset, it’s worth less than what’s owed, but what about homes that appreciate over time? What would incentivize a seller to pursue this route under that circumstance vs just flat out selling? I’m not knocking this method, I’m just curious.
am moving to the US next year , I have my own Real estate company in other country and I have to start from ZERO in 2024... thank you for sharing.
Hi Pace, I was driving from LA to NM and I stumbled on your videos, they are fantastic. Thank you
Glad you like them!
Pace you truly are a godsend and I appreciate everything you're doing really looking forward to a one-on-one with you if I get it sure hope you have a fantastic day thank you bye
I appreciate that!
How do you do Contracts or Agreements?.... if you take over payments aren't you just paying off the owners loan but living there or renting it but never owning it?
Dope shit 😅 i love it dude! Love how you explained this.
Noice! Very informative and easy to understand. Gee wilikers where was subto all my life?
Very, very informative... I watched you on own your future with Tony Robbins and Dean Graziosi and was very impressed with your information...I also come from a big family, in the youngest of 18 and I'm just getting started watching your videos because I really want to learn how to be successful and productive in the real estate business....My name is Juan Rivera,if there are any videos that you would suggest me to watch, I will greatly appreciate it.
good stuff thanks a lot for the info on sub to
No problem 👍
I want a 1on 1 please and thank you! I need out of my current living situation (shed) and help learning the skills you posses to be successful like yourself
I want to learn more thank you so much for the info, I’m an agent and never had the right person explain anything
Hey @jeanieannecco3956! Did you get the help you're needing? I would love to help you in any way I can including funding your transactions if you need it. Reach out anytime!
Crazy only 13,000 people have viewed this people are missing out!
Plus it made the wife happy and THAT, my friend, is priceless. 😁
Thx for all of your content Pace. Many are under the misconception that you’ve the time to answer their personal, individual questions. Even after you invite everyone on to your FB forum… Again, many thx for all you do 🙏.
Pace Morby is 💯🔥🔥🔥🔥🔥🔥
🔥🔥🔥
Good car analogy but I’ve had carmax personally offer me very favorable amounts and especially while used car price’s continue to do well although now we are seeing those come down… however 10 months ago when this video was made, used car prices were excellent and many cars weren’t loosing but gaining value in the market.
Pace, thank you for that. Honest and to the point. Looking forward to learning !