What is Subject-To and Creative Finance? | Saturday Edition E147
The Rich Somers Report
Rich Somers
5.0 • 1K Ratings
🗓️ 10 February 2024
⏱️ 19 minutes
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| 0:00.0 | I don't really have to position much because I'm going to the seller that already needs it. |
| 0:04.2 | And so I'm going to sellers that have expired listings. |
| 0:06.2 | They've already tried to sell the house on the market. |
| 0:08.6 | So think about this, they've gone through six months of being told no or being low-balled, I don't really have to position myself. |
| 0:14.0 | I just say, hey, looks like you're trying to get a number that's probably a little bit hard to get to. |
| 0:18.4 | I can get to that number if you're willing to let me take over the payments. |
| 0:21.3 | It's really, wait, hold on. The number one thing we hear, |
| 0:24.0 | okay, this is written on the wall in our office. The sellers say, wait, you can do that? |
| 0:28.8 | That's what I'm thinking right now. All the time, the sellers are like, wait, you can do that. |
| 0:34.0 | And it's because we position our acquisition strategy to the people that absolutely need it. |
| 0:39.0 | Welcome to the Rich Shummer's report where we talk real estate, business and wealth building all while keeping it real. No fluff, no BS. I hope that you enjoy the show. |
| 0:54.0 | All right guys, welcome to another episode of the report Saturday edition |
| 0:57.6 | and I got my co-host today. |
| 0:59.3 | I got my man, Pace Morby, peace, welcome to the show. |
| 1:00.8 | Dang, I get to be a co-host today. |
| 1:02.6 | You are the co-host on the Saturday edition, my man. |
| 1:05.0 | So for today's topic, Rapid Fire, I want to talk everything subject to, creative finance, but let's jump into it. |
| 1:10.3 | What is subject to? |
| 1:12.2 | Subject to is a wave to buy anything whether it's a house, a car, a plane, a train, a business, a hotel, whatever it is. It's a way to acquire |
| 1:20.4 | subject to is an acquisition strategy. It's a way to acquire something by just simply taking over some of these existing payments. |
| 1:27.0 | The story I tell with everybody all the time is like, could I take over your payments on your |
| 1:30.8 | phone that you have to Verizon? Yes, okay, well why couldn't I do that with a house or a business? |
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