Saturday Quick Tip -- Explaining Subject-To Live To A Seller (The Right Way)
Wholesale Hotline | Brent Daniels
Wholesale Hotline
4.9 • 586 Ratings
🗓️ 28 June 2025
⏱️ 13 minutes
🧾️ Download transcript
Summary
On today's Wholesale Hotline Podcast (Special Saturday Edition), we help you start your weekend right offering tips, news and mindset advice.
Show notes -- in these episodes we cover:
- Tips to level up your wholesaling business.
- Motivation to keep you going on your real estate journey.
- The latest industry news to keep you updated.
Please give us a rating and let us know how we are doing!
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Jerry Norton went from digging holes for minimum wage in his mid 20's to becoming a millionaire by the age of 30. Today he's the nation's leading expert on flipping houses and has taught thousands of people how to live their dream lifestyle through real estate.
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Transcript
Click on a timestamp to play from that location
| 0:00.0 | Hey, it's Terry Norton. |
| 0:04.2 | Welcome to the Wholesale Hotline podcast and the Flipping Mastery Breakout. |
| 0:08.0 | We want to know how we're doing, so please leave a comment and give us a rating. |
| 0:17.7 | Recently, while doing live cellar calls with my friend RJ Bates, I spoke to a seller in Missouri, |
| 0:23.1 | and during my discovery, I found out she wanted $215,000 for her home, and if she got $215,000, |
| 0:31.1 | she would walk away at closing with approximately $25,000 after paying off her existing loan |
| 0:37.3 | on the property. Now the problem was I couldn't pay $215,000 after paying off her existing loan on the property. Now the problem was I couldn't |
| 0:40.3 | pay $215,000. The most I could pay was $175,000, which obviously wouldn't work because she owed more |
| 0:47.3 | than that on her loan, about $190,000. So what do you do in these low equity situations? Well, one solution might be to take over her existing loan doing a strategy called Subject 2. |
| 1:00.0 | Now the challenge with Subject 2 is it isn't always the right solution for a seller, and even if it is, most people are unable to explain how it works in a way that is easy for the seller to understand, |
| 1:11.1 | or they don't know how to effectively convey the benefits to the seller. |
| 1:14.8 | So you're going to get to look over my shoulder and watch a live call where I find out the |
| 1:19.1 | seller's situation and then provide her with what I believe is the best solution for her situation, |
| 1:25.1 | which is subject to. |
| 1:26.8 | Now, before we cut to the call, I created a free |
| 1:29.1 | creative financing guide. Included in that guide is super helpful resource that you can give |
| 1:34.4 | to sellers or agents that explains how subject to works. Just go to creative financing hacks.com. |
| 1:41.8 | Okay, let's cut to the call. It is. Hi, Christina. My name is Jerry. I believe you've got a property you're looking to sell on 8th Street. Is that correct? Correct. Okay. Good. Let's see what we can do here. What are you hoping to get for it? |
| 1:57.4 | At least, I don't want to do any lower than 215. |
| 2:03.6 | 215. Let's take a look here. |
| 2:06.6 | Looks like you recently bought it. Is that right? |
| 2:08.6 | A couple years ago, anyway. |
... |
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