Ep30: Power Of Taking Over Debt Legally - Marco Kozlowski
Big Fat Real Estate Checks
Marco Kozlowski
5 • 957 Ratings
🗓️ 5 November 2020
⏱️ 23 minutes
🧾️ Download transcript
Summary
In today’s episode, learn the art and skill that’s mostly been lost among real estate professionals in taking debt subject to the existing mortgage. The ability to take over an existing debt may be difficult to most buyers, but this is definitely possible should you follow all the recommended steps and techniques.
WHAT YOU’LL LEARN FROM THIS EPISODE
- What does a subject to the existing mortgage mean?
- Assume vs. Subject to the existing mortgage
- History on why this existed and how is it possible
- What is the amortization schedule and how does it work?
- Is there a need to foreclose property when changing ownership?
- What is a land trust?
- What usually happens when the title wave of delinquencies continues?
- How to get a win-win situation?
- How to start the initial negotiation in this situation?
- How many properties can you get into?
RESOURCES FROM THIS EPISODE
Click here for the free quick start course "Get Deals By Tuesday" Masterclass.
CONNECT WITH US
- Email: [email protected]
- Website: https://marcokozlowski.com
- Facebook: https://www.facebook.com/realmarcokozlowski/
- Instagram: https://www.instagram.com/marco.kozlowski/
Transcript
Click on a timestamp to play from that location
| 0:00.0 | If the cash flow makes sense, you can take over debt and pay the seller to get the hell out of there, |
| 0:04.4 | so we're not buying property anymore, we're actually buying cash flow. |
| 0:10.4 | Welcome to the big fat Real Estate Checks Podcast with Marco Kuzlowski, where we help investors |
| 0:16.8 | like you get the knowledge and skills you need to replace your J-O-B with passive cash flow for life. |
| 0:24.0 | Welcome, welcome to another hopefully exciting podcast. |
| 0:27.6 | This is Marco Kuzlovsky, and this is Big Fat Real Estate Checks, |
| 0:32.0 | and we've quickly become close to number one in |
| 0:34.7 | podcast which is extremely exciting. |
| 0:36.4 | Thank you so much to the listener, you who is downloading and listening to this and getting |
| 0:40.6 | this information and we really appreciate your kind feedback and your |
| 0:45.0 | honest feedback and we're really excited to give you as much content as possible |
| 0:49.4 | and the more reviews you leave better the better it is for everybody. |
| 0:53.7 | And we want to give this information to as many humans as possible. |
| 0:57.6 | So you can quit your day job, quit things you hate doing, |
| 1:00.8 | and start doing the things you absolutely love, have cash flowing real estate take care of you |
| 1:05.8 | instead of you having to bust your ass doing what you do on a daily basis to never have the time that |
| 1:10.8 | to do things that you love which is the whole point of this experience. |
| 1:14.8 | And of course, I couldn't do this without my two compadres, Gabriel Araish from Montreal and |
| 1:20.9 | Frank Galuchio from Toronto. and today we're going to be discussing taking over debt. |
| 1:28.3 | This is something that seems almost like witchcraft and wizardry. |
| 1:32.0 | It's Harry Potter shit shit but it's really not |
| 1:34.7 | it's the the art and skill that has mostly been lost among even real estate professionals |
... |
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