Purchase "Subject to..." - Posted by Dave T

Real Estate Investing
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Posted by Steve Heller on April 07, 1999 at 21:05:54:

Hi Alex,

Thanks for your note about Bill Bronchick. I ordered two of his courses yesterday, The Cash Cow and Lease Options Workshop. I am looking forward to getting them.

Steve Heller

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Purchase “Subject to…” - Posted by Dave T

Posted by Dave T on April 05, 1999 at 21:42:53:

If I purchase a property subject to the existing mortgage, how do I implement this? Do I just take the seller’s coupon book and begin making the payments? Do I contact the lender and ask them to send me the payment coupons and year end mortgage statement?

I understand the concept of “subject to” and the liability implications for the seller, however, I don’t know the mechanics of completing the purchase in a “subject to” situation. Could someone please explain?

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Get Bill Bronchik’s “Cash Cow” course - Posted by Alex Gurevich, TX

Posted by Alex Gurevich, TX on April 06, 1999 at 08:29:47:

It’s all in there. The simplified version: Prepare the change of address letter from seller to a lender and you’ll start getting all loan related papers from lender. Just send your checks in on-time.

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Re: Get Bill Bronchik’s “Cash Cow” course - Posted by Steve Heller

Posted by Steve Heller on April 06, 1999 at 19:41:04:

Hi Alex,

I just ordered Bill’s Cash Cow course. Have you taken it? What did you think? Are you making money with it?

Thanks,

Steve Heller

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Re: Get Bill Bronchik’s “Cash Cow” course - Posted by Alex Gurevich, TX

Posted by Alex Gurevich, TX on April 07, 1999 at 08:39:58:

Hi Steve,

No, I don’t have Bill’s course, however, I’ve been doing this same thing very actively for a couple of years. It’s a great strategy for building long term cash flow upon resales, or accumulating rentals. Yes, it has made me a lot of money.

I do recommend all of Bill’s materials (I have some) as they are designed to be a very down to earth explanation of terminology and techniques and have a complete paperwork kit. For that last reason alone I’d want to buy it (and I will in time). With this type of transactions you definitely need a solid paperwork.