Two "Subject Tos" What to Do? - Posted by Joe SA-TX

Real Estate Investing
1

Posted by WillaimGA on May 18, 2000 at 14:25:26:

Joe,

Get those two courses. They will walk you right through all that you are wanting to do.

Good Luck!

WilliamGA

2

Two “Subject Tos” What to Do? - Posted by Joe SA-TX

Posted by Joe SA-TX on May 18, 2000 at 12:47:42:

Well Folks, I just signed up my first two home deals on a “subject to”. I’m a little worried of the paperwork at this point. Should I use an attorney to close or a title company?

I am in San Antonio, Texas.

I wrote it up just like I was supposed to and IT WORKED!

Please feel free to critique what I plan on doing next. I am rolling now and have everyone on this site to thank!

  1. Set up closing with title company.
  2. Take title to the property in a land trust with my corp as beneficiary.
  3. Record the documents.
  4. Have the corporation begin making the payments on the underlying mortgage. (Any worries here?)

Question: Can Brochick?s Cash Cow Course walk me through this from this point? Should I get the land trust one as well?

I plan on selling with owner financing and I am a bit more clear on this part.

Any help is greatly appreciated! You folks are GREAT!

Joe
San Antonio

3

Re: Two “Subject Tos” What to Do? - Posted by JohnWe (NoCA)

Posted by JohnWe (NoCA) on May 18, 2000 at 15:57:21:

Bottom line – get the courses. They’re well worth it.

After reading your points, my only concern is what you’re doing about the insurance. If you’ve got the insurance transferred over to the trust without the bank blinking, then you’re in the clear. If not, take care of it before the bank gets notice from the insurance company that the property has changed title.