All Forum Posts by: Caleb Christopher

I'm speaking from experience, as you requested: I run a team managing 50+ creative-only deals per month.

If I were writing this contract, it would include a price breakdown (along with the many disclosures needed in subto purchases). Example:
Purchase Price $350,000
1st mortgage taken subject to: $268,000 (approx)
Seller Finance: $75,000, with monthly payments of $_____ until paid in full
Cash to Seller at COE: $7,000

I also just wrote an article on BP explaining what the different types of wraps are: https://www.biggerpockets.com/member-blogs/15497/102003-wrap...

Tag me in a reply if you have further questions.

In this case I'd have an attorney send a letter demanding a payoff for the bank's lien against your property.

That said, for future reference and other readers, this is a great case study showing why it's critical to get a good durable power of attorney from the seller when buying subto.

IN MOST CASES YES, but the answer can vary.

Most commonly, title transfers and a new deed is recorded on public record. There are other arrangements in which title does not yet transfer.

Taxation works the same as any other sale. If you bought for $100K and sold for $125K, you have a $25K gain, other than any deductible expenses. Seller would pay taxes on any gains, if they don't qualify for the exemption wherein they lived in the property any 2 of the previous 5 years as their primary residence.

Also consider, if someone refinances, they pull money out tax-free because they haven't sold. But if they refi, then sell subto, they could still end up paying taxes on part of the amount still under financing: Buy $100K, refi 10yrs later to $200K, sell at $225K with a loan balance of $195K, and you have $125K gains to pay taxes on.

Honest feedback from the inside. There are a TON of great people in here. 

It was because of this group I have been able to do several subto deals. I got paid to buy my first investor deal. 

@kevin @mike @michael, what did you all end up doing?

Any company that won't show me pricing is automatically very low on my list. Lead Sherpa has entered this zone.

If I parked and sited my property to fit a nice RV, I have a renter (verbal "yes" so far) so I'm exploring the option

Has anyone done long-term rental of an in-place RV and can share the differences/similarities to single family residence? 

Not AirBnB. Not drive-off rental. Not in-an-RV-park rental.

You've said it better than I have. Thanks for contributing

I don't intend to convince people who don't care about swearing. My only purpose here is to provide feedback to the podcast. We at least found one unintentional oversight (other podcast apps not showing any visual warning for explicit content).

I feel like the podcast used to make specific effort NOT to publish explicit content, and I very much appreciated it.

On a side note, I find it somewhat comical how often someone feels the need to literally promote the use of explicit language in response to feedback or a request for moderation. I understand plenty of people don't mind it. I even worked in a prison for 5yrs and on average, I heard more swearing in one day than I had in the rest of my life combined. I prefer not to be around it if possible. And when people find that out, some invariably insist that there should be more of it as though it's virtuous to specifically use, promote, or at least not avoid explicit content (whenever spoken or otherwise).

It's like picking a table at a restaurant and seeing some dirt on one and saying, "oh I'd like to avoid that table," and someone overhears it and pipes up, "I actually wish they didn't clean the tables at all. If that's how someone wants to leave it, that's up to them. In fact, I think there should be MORE junk on tables and if you don't like it you should leave. Just because you don't like the dirt doesn't mean we shouldn't have a chance to have it."

I appreciate that there was some effort made. I must have missed the early verbal warning. I do tend to fast-forward to get into the content.

@Josh Dorkin & @Brandon Turner, call me a Karen for making a stink if you want, but I feel this tears down some of what you guys have spent 400 episodes to establish. You regularly discussed family values, faith, spirituality, and now introduce content directly antithetical to what's been built.

If another podcast regularly contained offensive content, I would simply stop listening. Warning people doesn't make the actual content more acceptable. I like BP because it's generally clean and safe. Maybe the unrestricted "weekend" content could be segregated to an "unrated" playlist if it's that important to make swearing a core component of BP episodes.

For context: Here's how I consume your content: I use Google Podcasts, set to automatically download episodes of subscribed podcasts so I can listen whenever. I listen at 2.5-3x speed, episodes back to back. So I never look at descriptions, I just hit Play.

@Kevin Leahy Nevertheless, here's a screenshot from Google Podcasts that shows zero visual warning for offensive content: