Pitching SubTo Part 1 #realestateinvesting #wholesalerealestate #sales #deals #subto

Name: Pitching SubTo Part 1 #realestateinvesting #wholesalerealestate #sales #deals #subto
Uploaded: 2024-01-09T01:17:16+00:00
Duration: 36 s
Channel: Jake Burhans
Description: In this segment of the YouTube video "Pitching SubTo Part 1," Speaker A advises Shannon on how to acquire a property. He emphasizes the need for…

9 Jan 2024 · 1 min

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In this segment of the YouTube video "Pitching SubTo Part 1," Speaker A advises Shannon on how to acquire a property. He emphasizes the need for appraisals and repair cost estimates, then explains that the team’s numbers indicate a cash purchase would need to be in the low $300,000 range, which is far below Shannon’s existing $380,000 mortgage, making a cash deal impractical. Consequently, Speaker A suggests an alternative "subject‑to" approach: taking over the existing mortgage and providing the seller with monthly payments, a strategy also referenced by Sean. The discussion centers on comparing cash purchase viability versus a subject‑to arrangement based on the property’s financials and condition.

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I know, because here's what I'm thinking, Shannon, is because there's so many ways we can purchase this property and you should definitely get someone out there and do the appraisals and all that. But the way that things look like right now, like my team has run numbers on this property and given kind of what we heard from Sean and what kind of work it needs, we'd have to be in the low 3s to buy this. Right. And I know your mortgage is at 380, so it just wouldn't make sense from a cash perspective. Right. Otherwise you have to cut a check. So that's why I think Sean might be in a similar area with his cash number. Which is why he had mentioned this other route, right? Take over the mortgage and then give you monthly payments.