Can we pay someone to find creative financing deal?

[Clare Waldoch]

I have been considering Pace Morby's subto mentorship program for a total of $8800. This is a lifetime membership to the creative financing content and it does sound intriguing and valuable. That being said, I fall somewhere in the middle of wanting to execute these deals myself, or paying someone to do them on my behalf. Are there folks out there that are available for hire to find, write up a contract, and execute a subto or seller finance deal for a fee? Where do I start looking for these people?

If anyone has any connections in any state, please reach out! 

[Doug Smith]

I would think you could find an attorney to doc it for you for less than $8800. I know sub-to's are all the rage, but after 32 years of working as a banker/lender and doing scores of real estate investment deals, I've always felt sub-to's have a lot of holes. The title transfer is the tricky part in not triggering the due-on-sale clause in the existing mortgage. Normally, mortgages require their borrower (the seller) to disclose the transfer. I've always felt that "Let's just not tell the bank" is not only immoral and unethical as it violates a loan covenant, but could be construed as mortgage fraud, which is technically criminal. I'm not saying they will send the black helicopters for them, but you can't get a little bit pregnant. You could always do a contract for deed instead where the title doesn't transfer and, in the agreement, you agree to pay for the taxes, insurance, the mortgage, and other maintenance costs that you would have as the owner. That wouldn't likely violate loan covenants. I can't wait to see the keyboard warriors chime in with "accckkktuaaalllyyy..."