Preparing while others are Panicking

[Chris Reyes]

Knowledge, Planning, and Executing are the fundamentals of growth both as an individual and as a business.

The reason for this post is because there are a lot of discussions about what if's and whether or not we should prepare for the worst of times. However, like a lot of great investors out there, the worst of times for the majority is the best of times for the minority. 

During these times of isolation and social distancing, in light of current events, I have decided to invest more time and effort into learning about foreclosures. In my research, I have learned about "Subject To" in acquiring assets with both having a benefit to the seller and to the buyer. Subject To deals include taking over a property without being personally liable for the loan. 

The seller gets several benefits from this type of deal, one of which is having their loan caught up and saving them from going into full foreclosure and/or bankruptcy.

A benefit for the buyer is to acquire properties without having to go through the loan processes and obtain many rentals through this process. 

Although this "seems" to be a cut and dry deal there are many ways this could go wrong if a person is taking the necessary steps to execute this deal just right. Difficulties include finding a person that would be interested in this type of deal and the legal implications that are associated with a deal such as this one.

During my research, I learned you need to Do Your Do Diligence, especially in finding any liens against the property (which will need to be caught up as well to save from going to foreclosure). And also the documents that explicitly explain what the deal entails in black and white writing. 

The documents include "Authorization to Release information", "Seller Disclosure", "Power of attorney," and a document stating exactly how this deal will be structured.

Most of my research on this subject has been through Youtube by a guy named Kris Haskins if anyone is interested in seeing his content! 

I am curious to know how you have used this time to grow and educate yourself? What new types of Real Estate investing strategies have you started learning about? And what books, channels, podcasts, or networks have you learned this information from?