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Buying Property “Sub2”Existing Financing : 

Buying Property “Sub2”Existing Financing The Ultimate Method of Acquiring Real Estate

What We Will Cover : 

What We Will Cover What is Sub2 Advantages of Using This Method Risks Is It Legal Where To Find Sub2 Deals Importance of Marketing Myths Future of Sub2 Deals

Who Is William Tingle? : 

Who Is William Tingle? Worked in the restaurant industry for 20 yrs Ordered Carleton Sheets course in July ‘99 Bought 1st investment property Aug ‘99 Quit my job and went full time August ’00 Full time investor for 10 years buying 20 to 30 properties Sub2 each year while also running a rehabbing and wholesaling business Has taken the deed to over 200 properties Teach real world techniques

My Plan : 

My Plan

641 Friar Tuck Lane / The First Deal : 

641 Friar Tuck Lane / The First Deal 1st investment property purchase. FSBO purchased for $63,300 Sold on L/O for $89,900 Sold again 5 months later for $91,000 Closed sale Over $29,000 profit

What Do You Do When You Hit the Financing “Wall”? : 

What Do You Do When You Hit the Financing “Wall”? Even With Good Credit and Cash, There Are Limits to the Number of Deals a Bank Will Do With You!

What is buying “Subject To”? : 

What is buying “Subject To”? When you buy a property “subject to,” you are purchasing it subject to the existing financing. Put simply, this means that the loan(s) and any other liens or encumbrances already on the property stay there without any formal assumption on your part. The owner deeds the property to you, and you take the payment book and start sending in the payments just as the former owner did.

You Own the Property : 

You Own the Property The Seller Still “Owns” the Loan!

Why Would Anyone Sell Their Home “Sub2”? : 

Why Would Anyone Sell Their Home “Sub2”? Divorce Job Transfer Death in the Family Tired Landlords Job Loss Bought another home and need to sell There are as many reasons as there are sellers

204 Southern Lane / A “True Sub2” : 

204 Southern Lane / A “True Sub2” Seller called on bandit sign Purchased 3/2 “subject to” current $104,000 @ 7% mgt Sold on LC for $125,900 with $13,000 down @8.75% mgt Collected $161 per month cash flow for 26 months Buyers re’fied and we collected $8800 Total profit over 27 months was $26,986

Southern Lane Check : 

Southern Lane Check $12,750.00

Is She Happy? : 

Is She Happy?

This Real Estate Stuff Really Does Work! : 

This Real Estate Stuff Really Does Work!

Advantages of Buying Sub2 : 

Advantages of Buying Sub2 No Banks Needed Low / No Closing Costs Fast Closing Time It is NEVER, EVER on your Credit Report Good Credit not Needed Low Homeowner Interest Rates Owning the Property with Long Term Financing means Your Exit Possibilities are Endless

“But is Buying Subject To Legal?” : 

“But is Buying Subject To Legal?” The due on sale clause gives banks the right, at their option, to call the loan due upon transfer of title or beneficial interest in the property with a few exceptions such as transferring title into a land trust for estate planning purposes. If anyone tries to tell you sub2 is illegal, ask them about line 203 on the standard HUD-1 form where it says “Existing Loans Taken Subject To.”

Risks in Buying Sub2 : 

Risks in Buying Sub2 You Make a Bad Deal Tenant / Buyer Doesn’t Pay or Trashes the Property Due On Sale Interference From Sellers After the Fact

Where Do I Look for Sub2 Deals? : 

Where Do I Look for Sub2 Deals? MLS Expired & Soon to Expire Listings Pre-foreclosures Bankruptcies Divorce Filings Eviction Filings Almost any deal can be a sub2 deal. All you need is an existing mortgage and a motivated seller

How Do You Find Sellers Who Will Agree to Sell Subject To? : 

How Do You Find Sellers Who Will Agree to Sell Subject To? Let Them Find You!

Consistent & Persistent Marketing : 

Consistent & Persistent Marketing An Important Part of Your Success!

Key Questions to Determine Degree of Motivation : 

Key Questions to Determine Degree of Motivation “Why are you selling? “What are you hoping to accomplish by selling your house?” “How soon would you like to get this done?” “If I were able to make the payments on the house for you until I could find a buyer, would that work for you?”

Subject To / The Myths : 

Subject To / The Myths No Cash Needed No Liability for the Loan / To Seller Buyers lined up for Blocks with Cash in their Hands to Buy Your Houses Only the Most Desperate Seller will Sell this Way Getting the Deed makes a Bad Deal a Good Deal Sub2 is for Pretty Houses Only

You Can Flip a Sub2 Deal…. : 

You Can Flip a Sub2 Deal….

113 Heathwood Road : 

113 Heathwood Road Contracted to buy for $89,545 Closed sale for 105k on 38 days later Gross Profit of $14,061.59 in 38 days

Virginia Drive – The Cat/Dog House : 

Virginia Drive – The Cat/Dog House Lead came from my attorney Seller had owned for 25 years and just wanted out We bought for 14k FMV was 65k Sold next day for 29k

791 Friar Tuck Lane : 

791 Friar Tuck Lane Seller responded to postcard to MLS listings for this 3/2 House was in pre-foreclosure, 4 pmts behind. FMV was $100,000. We bought sub-to existing VA mgt of $48,000, 7% with 7 yrs left on a 15 yr note. Pmts $800 PITI. We paid back pmts and attorney fees totaling $3500 and paid seller $3500 for equity. Closed sale 91 days later for $91000 cash. Gross profit of $36000.

791 Friar Tuck Proceeds : 

791 Friar Tuck Proceeds $28,436.99

You Can Rehab a Sub2 Deal…….. : 

You Can Rehab a Sub2 Deal……..

Slide 47: 

1972 Neville Way This 3/2 was a preforeclosure that seller called us on from a postcard. He had owned the house for 15 years and was 6 months behind on payments of $411.00 PITI. He owed 30k and wanted 3k moving cash. FMV after about 8k in rehab is 85k. We paid $4800 to atty to bring current and gave seller his 3k. Sold for $82,000

Slide 48: 

Neville Way Rehab Pics

Slide 49: 

More Neville Way Rehab

Slide 50: 

More Neville Way Rehab

Slide 51: 

1972 Neville Way Proceeds $43,291.12

Creating Cash Flow for Life : 

Creating Cash Flow for Life

Cash Cow on Shawn Drive : 

Cash Cow on Shawn Drive Pre-foreclosure, divorcing sellers called us on this 3/2 on 1 acre in a desirable, suburban area. They owed 81k, with $6800 of this balance being arrears, attorney fees, late charges, etc. The PITI was $633 per month with a 7% interest rate, 6 years into a 30 year amortization. They had contacted another investor who had dismissed the deal due to the high arrears balance. They were desperately trying to avoid foreclosure and agreed to sign over the house.

Profit Breakdown for Shawn Drive : 

Profit Breakdown for Shawn Drive Bought for 81k Paid $6800 to bring arrears current. Our note is 74k @ 7%, pmt $633 per month PITI Sold for $109,950 Buyers paid 25k down Buyer’s note is for $84,950 @ 10%, pmt of $856 PITI On the surface, this deal has the appearance of a $28,950 profit. Let’s see how it really works out.

How the Numbers Work Out : 

How the Numbers Work Out Profit on Front End - $18,200 Profit on Monthly Cash flow - $18,732 ($223 per month for 84 months) Profit on Backend after Buyer refinance - $15,907 TOTAL PROFIT = $52,839

The Future for Sub2 Deals : 

The Future for Sub2 Deals Unbelievable Profits!

Example of What’s To Come! : 

Example of What’s To Come! Buy 100k pre-foreclosure property for 85k @ 5.5% interest 3 years into a 30 year term Payments are $567 per month Sell on a contract for deed for 105k Buyer pays 4k dn, you finance 101k, 10%, 30 year am, 3 yr call Buyer’s Pmts are $886, giving you $319 cashflow for 36 mths or $11,484 When your buyer refis in 36 months, your payoff is $23,964

$39,448 : 

$39,448

Example of What’s To Come! : 

Example of What’s To Come! Buy 220k pre-foreclosure property for 180k @ 5.5% interest 3 years into a 30 year term Payments are $1022 per month Sell with Owner Financing for 234k Buyer pays 10k down, you finance 224k, 10%, 30 year am, 3 yr call Buyer’s Pmts are $1966, giving you $944 cashflow for 36 months or $33,984 When your buyer refis in 36 months, your payoff is $47,552

$81,536 : 

$81,536

The “Secret” of Buying Subject To : 

The “Secret” of Buying Subject To Know Your Technique/Education is Key Plan & Execute Consistent Marketing Learn to Recognize a Motivated Seller Do Your Deals For the Right Reasons Treat People with Respect Disclose, Disclose, Disclose Take Action!

Sub2 Summary : 

Sub2 Summary A GREAT Way to Buy Property Not Illegal or Unethical Sellers do not have to be Desperate but Generally must be Motivated to Sell Relationship and Trust is Crucial Even when buying Sub2, the same common sense rules of investing apply Just because you can get a Deed doesn’t mean you should take the Deed

What Is YOUR Plan? : 

What Is YOUR Plan?

Would You Like to Be Able to Do the Things You Have Seen Here on a Consistent Basis? : 

Would You Like to Be Able to Do the Things You Have Seen Here on a Consistent Basis?

Ultimate Sub2 Guidebook : 

Ultimate Sub2 Guidebook Step by step instruction Every form needed to buy subject 2 or sell properties on lease option or land contract! All forms included on CD in Word format for easy customization! Over 460 Pages! Price $349

Slide 75: 

William, I just wanted to say thanks.  I just closed on a subject to deal that I resold.  The check I received is attached.  To those who say it cannot be done "THINK AGAIN".  My profit on the deal was in the neighborhood of $60,000.00.  I can tell you that every deal I do I try to do subject to.  I had another deal that was done in less then a week and then resold in two weeks.  It closed within 60 days and we had a profit of over $30,000.00. I just want to let you know that you do make a difference.  May God bless you and your family.  Art Gaister, Baltimore, MD - A Plus Property Associates

Slide 76: 

$97,203.03

Slide 77: 

William, I bought your Sub2 Course and it is the best Real Estate Cost I have ever purchased.  I have purchased some courses for over $5000 and they did not hold a candle to your course. Your course is "no nonsense" and gets right to the point teaching exactly "How to do the deals", with no BS. All the forms necessary to close the deal are included so all we have to do is go out and write the deals;  there are no excuses not to. My wife especially liked your openness and willingness to share all your information and because of you, she is also getting involved.Thank you again for the value, honesty and integrity.Gary MeltzerLas Vegas, NV

Tonight’s Price : 

Tonight’s Price Only $197!

Slide 79: 

The Ultimate Extreme Package

Extreme Marketing Guidebook & Software : 

Extreme Marketing Guidebook & Software Dozens of Proven Marketing Ideas to Grow Your Business 200 Page Manual, 3 Audio Cds and Forms CD in Word Format Examples of marketing materials, business cards, flyers, special reports, bandit signs, postcards, letters Regular Price - $297 Direct mail software designed especially for investors Fully Customizable, format the mailings anyway you like or use it right out of the box with examples Change font, colors, import/ export mailing lists or pictures Tutorial makes learning easy Regular Price - $327

Slide 81: 

William,I just want to say thanks for all of the insights and information you provide in your “Ultimate Sub2 Guidebook”. I have to say that I was skeptical that such an inexpensive course would offer much substance, but yours is one of the best. I am ready to crank it into high gear and your Sub2 course (as well as the “Extreme Marketing Guidebook”) is incredible. Many thanks for writing it and offering it at a reasonable price!Marcus Lackey - Allied Property Group, LLCAlexandria, VA 22314

Slide 83: 

William, I must say that your Marketing Software is great! At first I was kind of worried I wouldn't be able to figure it out, but I've been getting the hang of it. I'm using maybe 5% of it's capabilities right now and it has been a huge help. Imagine when I have it mastered!The software just makes everything so easy! I remember when I first started mailings I would go in and have to type each address in and each possible sellers name into every letter. No more mass typing for me, just mass mailing.Thanks William!Nick R.

Slide 84: 

Forms Master Pro Software Set up “Ready to Go” Forms Packages Automated Tutorial Simple Interview Process Completes Forms Forms Editor Makes Changing Forms Simple Regular Price - $329 12 Most FAQ About Sub2 Audio CD & Written Transcript Booklet Regular Price - $47

The Regular Price for All of These Products Is : 

The Regular Price for All of These Products Is Over $1300!

Get the Ultimate Extreme Package Today for Only… : 

Get the Ultimate Extreme Package Today for Only… $697!

Ultimate Sub2 Event – Oct 15, 16 & 17 : 

Ultimate Sub2 Event – Oct 15, 16 & 17 3 Full Days of Training ABSOLUTELY NO SALES! Hotel Room at LaQuinta Inns & Suites Included ABSOLUTELY NO SALES! All Meals Included-Dinner at Logan’s Roadhouse & Carrabba’s Italian Grill Thursday & Friday ABSOLUTELY NO SALES! All Expert Speakers Including My Team ABSOLUTELY NO SALES! Class Size Limited to No More than 40

Ultimate Sub2 Event – Oct 15, 16 & 17 : 

Ultimate Sub2 Event – Oct 15, 16 & 17 Over $2400 Worth of Courses Included ABSOLUTELY NO SALES! Bring Your Spouse or Partner for ½ Price ABSOLUTELY NO SALES! Credit for Courses Already Purchased ABSOLUTELY NO SALES! 100% Money Back Guarantee ABSOLUTELY NO SALES! This is the Absolute Ultimate All-Inclusive Event …….We Even Include the T-Shirt!

The Ultimate Sub2 EventOctober 15, 16 & 17 in Macon, Georgia : 

The Ultimate Sub2 EventOctober 15, 16 & 17 in Macon, Georgia $1997

Lifetime Follow-up at My Website : 

Lifetime Follow-up at My Website www.Sub2Deals.Com