Buying subject to

[Ru Monsell]

Would love to hear from anyone buying by taking over loans subject to existing seller financing. The closer you live to t Maine, the more helpful the advice will probably be! thanks

[Michael Quarles]

I certainly am not going to make many friends with this statement.

However.

As someone who wrote a wee little book on Sub2 and has bought a lot Sub2 let me state that no one should buy Sub2 unless they can cure the underlying voluntary and involuntary liens when needed. It's too destructive.

Especially in the event that they sold the property using a wrap or junior lien. If you have purchased for your own portfolio or resold the property leaving the lien in play and cannot pay that lien when needed then you are not a credible investor. No matter which type of disclosure you had signed.

The hype of no money investing will do you more damage then good. Very few people go from no money to wealth using Sub2. If you have an inability to purchase property utilizing mainstream financing and cash do not buy Sub2.

Sub2 isn't meant for and should not be used by investors who cannot cure the loan.