Max Maxwell Live | EXACTLY HOW TO DO SUB TO DEALS | Wholesaling Real Estate
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- Опубліковано 14 чер 2020
- Today's stream clip comes from our stream last week where I walked everyone through a deal from acquisition all the way to flipping, listing, and lastly selling. Stay tuned as this video highlights specifically the contract side of sub-to deals and how to handle those sorts of issues that may arise.
Learn how to Wholesale Real Estate
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![Watch Me Wholesale A Subject To Property [Deal Breakdown] - Part 2](/img/n.gif)
Love this. I remember when you wouldn’t even talk about it because you didn’t feel you were educated enough in that sector of REI. Keep Growing!🐐
Just said that when I was watching this video lol
Back handed compliments don’t count
Legit just subbed because of his demeanor and this here comment. 🫡
@@moustapha2595 it’s true. Max said it himself. He said he wasn’t about to teach it if he didn’t have it mastered yet.
And now he’s able to.
One thing I've always appreciated about your videos is that you get down into the details of processes and how deals work. Thank you for this....I've never seen a more clear explanation of subject to. Thank you from a fellow vet!
Hey that’s three vets now. Max was in the Air Force, I was in the Marine Corps, what branch did you serve?
Thanks
Loved this demonstration! Thanks Max for making "subject to deals" so much easier to understand. I Rock with you 💪🏾
Hi Vivian! I've done several Sub-to's in FL, if you have any questions or need clarification on anything let me know
explained in the best possible way..simple...straight forward
Thank you for another explanation/ view of subject to. It comes up and is thrown around often yet not so clearly explained.
Max your content is golden
Thank you for this well put video of this subject to step by step, for some reason I just couldn't wrap my head around it but it's definitely not complicated at all.
Thank you for the great information Max.
that was really really helpful brother MAX!!! More power to you
great content as usual!
Max what's good bro!!! Keep up the good work!
*This is news to me!! Thanks Max!! New subscriber!!* ✌🏾❤️🤴🏾
Thank you Max 💎🔥🔥
Very good explanation
im moving to the NC. hope to see you my great brother
I just asked about this! Thanks for sharing on this subject!
Hey Coatomc, If you need help structuring these deals DM me! I would love to help.
@@BlackWidow0311 Hi Bro, Can you advise me about my questions below; I appreciate it in advance:1-Should we update the mortgage insurance?
2-How if the property is upside down?
3-How about a down payment or earnest money of the seller which he put it for the lender? Should I pay it to the seller?
4-Do you have any template contract for the “subject to contract” with the clear articles on it to avoid any problem in our future subject to deal with?
5-For more expensive properties like $300,000 value, do we need to pay a difference of balance mortgage and market value of the property to the seller? let say if they paid if about 20% over the time till now, then we have to pay 20% of the value to the seller, as well.like a new mortgage. Am I right?
@@jm2224
1) Always update the insurance so that you and your end buyer are on there as an additional insured. Build a relationship with a local insurance agent and tell him what you're doing to keep the process simple with future deals.
2) You can take it over upside down.
3) Always take your down payment and EMD to the title company.
4) I do have a template contract. DM me on Instagram at @lexthegodson
5) Not following the question. But, you can structure this in whatever makes sense to you and the seller. If you can afford to pay them their equity based on the deal, do it.
If the home is in bad shape and it's not worth paying the equity out don't. There are many factors but as long as you structure a win/win between all parties you should be good.
@@BlackWidow0311 I Highly appreciate it, Alex;
I gotta follow you on Instagram.
I need a contract like that. Thanks for the value
Hello Max! Thanks for the content....excellent work! You mentioned sharing a link for the contract. I don’t see it below....can you point me in the right direction? Also can you share your contract for wholesaling?
Thank you
Thank you 🙏🏽
This is amazing content! Lucky to have found a great channel.
Is there a video I could watch that would help me understand how to structure it so that I can get the seller moving money while also protecting me if they decide not to move
outstanding
Love the video, I don’t see link for the subject to contract
You said in your video the contract is here but it's not! Could you post it please?
I just had this issue.. elderly couple, house is worth 236k, owner took a refinanced & owes 150k.. they wanted the full price of 236-250k at retail, but they want to move & if they could have another way to sell they would. I thought of subject two, but I wasn’t educated enough to do this deal.. I offered them 150k wholesale price but they would walk away with nothing due to the balance.. Beautiful home!
if you still have that deal DM me we can jv on it if in a good market
Hey Keith, If you need help working through this deal reach out to me! Would be happy to JV with you and show you how to execute it.
@@BlackWidow0311 im in vegas and im licensed realtor. Would you be willing to walk me through some whole sale deals and we split the profits? whats our email ? Mine is mista702@aol.com
You mentioned in the video a link to the contract you use. Help please - I didn't find it. :)
Great content as always. I'm curious how do you get around the Due-On-Sale clauses in most mortgages? wouldn't the recording of these documents put the bank/lender on notice of the deed transfer?
Catch up arears and then file the deed 30 days or so out after
Good day
That contract looks great. Is there a link in the description?
Did you ever find a link?
Is his P&S agreement on the website??
How do you get the payoff letters from the sellers lender when you go to sell the property?
Yo Max could you post the link to this contract? I couldn’t find it on the website. Thanks bro! 🙏🏾
Hey Max
75K loans+13K to seller. What was the ARV? How do you know the max you can give seller on sub to deals? Trying to understand the margins you used to ensure that I avoid getting into upside down deals.
Thank you for sharing
What is the ARV?
After repair value
i didnt see a link to the contract template would you have one available
where do I find this contract to download?
Agreed. Where are they?
What kind of agreement do you have with the seller where you are obligated to pay. the mortgage?
Are the monthly mortgage/ PITI payments you're making going straight to the mortgage company(Possibly through a servicing company)? Or are they going to the previous owner? (that doesnt seem right to pay the seller....
This is great but what if the seller is concerned that if the loan stays in their name Subto. How would that affect them in the near future if they want to buy a home later & will need to do a loan
Have you done any subject to in California ?
Any chance we can get this purchase agreement as well?
Where’s the contract?
Have you ever had to deal with a "due on sale" clause?
Right on man,but Pretzels, Pretzels lol👍🏾
Also one more thing, is it safer to buy it under a land trust in case the bank call the loan due (acceleration clause) if somehow they find out title has been transferred?
If its long term always buy in a land trust and a LLC as owner of LT
Where can I find a copy of this contract
Hey max. Can I just use my regular P/S contract and add “Subject to the existing mortgage” in the additional terms section? Or do I need a completely different contract? Thank you
Same question here.
Can you use HML to finance the initial chunk you have to pay in a Subto if you’re flipping it?
Or is this used for the sake of not using financing?
Where do I get the subto contract?
Most likely a real estate attorney
@maxmaxwell is there a way to get a copy of this paperwork for future sub to deals we may do... appreciate all the great content brother keep up the good work
@max maxwell
Pace morby coined this as a “sub-tail”
Sure did. Max is also a great been watching both.
Are you able to protect yourself by getting insurance on your subject to contracts? If so, how? What if the seller files for bankruptcy or the lender calls the mortgage due in full once they see a title transfer? How do you protect your property in these instances??
My guess is they’re legally obliged through the contract. There may be missing pieces of paper work in this video.
Couldn’t find the contact on his website so I just screenshot the whole thing 🤷🏽♂️
Are you able to share it? I thought it was just me
👍👍👍
For instance, if the house cost $300,000 and he’s behind $10,000 and that how much money do you offer for him to keep for him to give you the house for subject to or how can you make something work a scenario like this if I want to get started doing what you’re talking about😊
How long can you rent out a property under a subject to? Realistically, how long will a seller allow you to use them as creative financing?
I’m assuming the contract would take care of that. Not sure.
I have a question: I am a wholesaler & I’ve squaded up with other investors/wholesalers who do creative finance as I feel I am not as knowledgeable to do it myself. My plan is to pass up sub to deals to them when I get sellers who are interested in that instead of cash offer. How do I vet them & how do I structure the deal so that I get paid when I pass it up to them?
I'd be happy to take these off your hands and help you with my network in any way. If you send a contact I'll let you know when I receive it so you can delete it, and we can explore how to work together. Best to you
Question if you subject to and your keeping the person name what happens if that person goes to bankruptcy or gets judgments can’t you lose that house that is there name
Great video, if you have time, can you make a video about Sub To and Executory Contract “scary” what if scenarios.
For example:
What if the seller files for bankruptcy?
What if the seller tries to sell the house to someone else after you complete the transaction with them?
What if they sue you years later because they claim you ripped them off?
What if after the transaction the seller wants to buy a new home, but the original loan is still in their name?
What if the seller dies, is the lender notified?
Thank you
GREAT QUESTIONS! @MAX CAN YOU ANSWER THIS PLEASE
But the ? Is if the mortgage was in the seller name would he be able to get another mortgage since you took over that one?
Can anyone point me to this exact contract? It’s not on the website. Also not linked in description.
Wheres the rest? The after pics, the payment details, breakdown, etc.....
@11:39 What makes up the $13,055.98 that you had to bring to closing? Im assuming the $12,000 cash to the seller is in that number, what about the additional $1,055.98?
Nevermind I see it at @12:04
Where can i find that contract?
Looking for the contract to download
Where can I find your Subject-To contract? Thanks
Hey!@timothylittlefield6683 Are you looking to close Substo transactions? If so,I;m a TC. I can help you and when you need it.
What if your dealing with a seller who wants 100k 350k house so not bad but do I come up with the 100k?
Do you own the property with a subto? Does a subto mortgage ahow on your credit?
You own it with out owning it
Can you post the link for the contract?
@Max Maxwell
Hey Jeffrey, If you need help structuring these deals reach out to me and I can help.
This contract will suffice for a short-term deal, but there is much more paperwork (POA’s, etc.) that should be used if you’re going to keep the property long term. This contract wouldn’t cover many potential issues that could come up. This is just my opinion, not legal advice.
Can I contact u
Tell us more
CAN I GET THAT CONTACT ITS NOT ON THE WEBSITE
Bro that's some pimp ass shit! how did you manage to purchase the home (obtain deed in your companies name) from the homeowner and keep the loan or mortgage in place under the original homeowner's name?
Hi big bro, I just found your channel and I missed your recent FREE webinar on October 22nd, unfortunately; I came across your fantastic video about "subject to", first of all, I wanna say thank you for sharing that information, and I have few questions; I hope you can see my messages and reply it. I appreciate it in advance;
He said no Kia cell phone 🤣
Where can I get this contract
Hello @HowardsWrld 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.
does the house stay on the sellers credit?
The mortgage does. The seller is always liable for the mortgage since it stays in their name. Reach out with any other questions, I've done several Sub-to deals
@@robinperez5031 hi, do you have a subject to agreement you can share?
🙏🏽💫☄️
None of your links work
You should’ve kept that tanning bed. Cause you could’ve used it. 🤣😉
Just kidding. Thanks for the info, video, time, and your help
Where is the copy of this contract?
Go to my website. www.Therealmaxwell.com
👍
Do you give you subto contracts for free
Can someone share this contact please?
If anyone needs help I'll help you
I thought once the property goes though probate everything gets put into the son's name..... Why was it still in the fathers name...
How did u avoid the due on sale clause???
How did the son Deed you the property if it's not in his name it's still in the fathers name?????Well technically the banks has the deed cause of the outstanding mortgage......
Deed in sons name after probate while mortgage stays in deceased fathers name. Deed can transfer title to anyone anytime. If bank does not know about deed transfer then buyer just continues payment of mortgage.
Answer your comments my guy
Hey Max. Got a friend that would like to sub-to her home. She’s in preforclosure and wants out. Not my niche and she needs help too quick for me to learn. Would love to contact ur office if possible. Thanks
what market I will look at it and if it makes sense i will jv on the deal with you
flipping=more taxes
Now I think someone should tell kevin samuels this is what true alpha looks like!
Hey Max where can we get a copy of this Purchase and Sale Agreement?
I was trying to look for it too
Check his facebook page: wholesaling houses elite
Hey Zane, If you need help putting a subject to deal together, please reach out to me!
@@ismayil32 it ain't there - he said he was going to put the link to it in the info box on this video but he hasn't yet
jalabi99 what is your email ? I found one from there looks exactly same i can send over to you
Why does everyone insist on playing background music/sounds when talking on these videos. Many of us want to listen and are not 18 -22 years old who need extra stimulation to listen. I'm really interested in this but the music is as loud as the man speaking.
So you can keep a mortgage in the name of a deceased person 🤨
As long as bank is getting its payments,they are fine. The deed is in sons name after probate while mortgage stays in deceased fathers name. Deed and mortgage two separate things.
Max, thanks a million for actually sharing what a contract looks like and how simple it is. I do appreciate the transparency. Your vivid example
Solidifies that this is doable. 💪🏽📑
Glad it was helpful!✊🏾