All Forum Posts by: Joseph Tjader

@Joe S.

It's literally the first result on google.

https://www.watsoninvested.com/

He uses self directed Roth IRA's and Roth 401k's for subject to deals. You're welcome.

@Joe S.

"Jeff Watson Lawyer Subject To"

@Ralph Pombo

I just attended a masterclass taught by Jeff Watson who wrote the best paperwork for this and is taught by him and Eddie Speed over a 3 day course called the Creative Path Offer Boot Camp. I just attended the one day by Jeff and haven't bought the 3 day yet. Simplified, you buy the property Subject To the mortgage. You take over the payments and set up the deal as a trustee of a trust in a multiple member LLC. You use your own docs and your own terms. No bank loans.

There's multiple ways to give the owner incentive but is designed as a win-win to where you delay the payment to the seller rather than them taking the lump sum and incurring a large tax bill. You pay them over a 20 year term with a variable step interest rate.

I would google Jeff Watson and Eddie Speed and at the minimum buy Jeff's forms from him. $987. Hope this helps. He taught this today at the Milwaukee REIA.

I came across a cash flowing property. I'm trying to go VA Loan and the property has an existing and rented out billboard for ~ $400/month. Has anyone had this come up for your VA Loan with underwriters flagging it for whatever reason? Mortagage lender I'm using hasn't had this happen before and suspects it will be flagged for safety. That's currently the situation we're in. Thank you for the replies.

@Dominic Castleberry

Verbally agrees. Means nothing. Get it on paper with signatures and notary, if not it's pointless.

It was not an agreement. If it were it would be on paper.

@David B.

Right now I'd say screw all that and buy Growth stocks and crypto. There's some great deals out there if you can be patient and wait out this bear market.

@Nathan Leger

By doing things that are fearful. Over time those fearful things won't cause fear.

@Diandra Duncan

I feel like John Goodman in the Big Lebowski...Has the whole world gone crazy!!?

Unless you are already a rehabber, own your own construction company, or your parents own one I would never waive the inspection. There's just so many functioning parts of a home that are unknown to the naked eye.

It's a sellers market, but you still have the option of a home inspection. Would you rather fork over $700 for an inspection and lose the home after finding out what is wrong or keep $700 more and possibly an additional $40k out of pocket? Plumbing, electrical, roofs...it's not cheap.

You have to remember that both agents want their deals to go through, they make $ from it via commission. They also both have liability insurance protecting them from errors and omissions on their part.

Protect yourself. Do the inspection.

@Mike Bianchi

None of the above.

CASH. A giant cash position.

Stocks are teetering at all time highs, interest rate rise is on the horizon, inflation is already here, state and federal taxes are absolutely going to rise at a level not seen before.

I'm not calling a bubble but in my opinion this won't last and there will be lots of volatility over the next 3-4 years while companies and people adapt to a more expensive world.

Sorry to hear this but it happens a lot more often than you would think. I always say if you want to close 20 transactions you need 80 leads. Keep moving forward and eventually it will pay off