In search of a Sub2 deal

[Tachara Watkins]

Hello everyone! I'm a new investor and I'm really interested in getting my first Sub2 deal. I was told that the best thing to do would be to connect with an investor friendly agent to assist me in the process.Would you all agree? If they are in pre-foreclosure I will be willing to pay their debt (as long as it isn't an astronomical price) and also help them with a few thousand dollars to move out. I just want to get on the right path to find a deal soon!

[Matt Pursley]

New investors love the idea of Sub2 or Seller Financing because of the apparent little money out of pocket. In my most recent Sub2 experience the seller was 11k behind on the mortgage and wanted another 40k to move out. That's 51k out of pocket. Still dirt cheap to control the asset, but not just a few grand.

Regardless of whether you want a Sub2 deal or not, you still need to have an investor friendly agent who keeps you in mind. You'll have to find ways to prove yourself as a real player because chances are they already have a rolodex of investors they go to.

If you're going to find good Sub2 deals you'll have to do your own marketing. That's the best way to find any good deals. I suppose you can pay for leads and buy lists also.

Theres a lot of other options and great deals available that aren't sub2. My first deal only costed 6k out of my own pocket. The rest were loans and I made a great profit. I found that deal through talking to every person I knew until I found someone who was tired of their rental property and wanted to just get rid of it. 

Keep grinding. Keep hustling. Keep taking action. You'll find a deal.