When you are getting a sub-2 deal, how much work do you do on the property ie… landscaping, painting or should you not do anything?
Also, how do I get the standard paper work for sub-2 in Alabama, do you have a generic set ?
please help…thanks
valleyalabama,
Glad to meet you.
My idea of rehabbing a property is when the old owners take their pictures down, they usually always leave the nails that held the pictures in the wall.
In this case I get out my rehab kit, which consists of a pair of needle nose pliers and some patching paste. Very carefully I remove the nails and then paste the open nail hole, at this point my rehab is done.
What I do due is make sure the house is super clean and hire someone to clean it thoroughly, this is very important. I make sure the lawn is mowed, all plants or bushes trimmed and sometimes add various bedding flowers to the front of the house for curb appeal.
When I first started doing Subject Two deals, I would paint, carpet, etc., however with my method of selling on Contract for Deed I did not get one dollar more for the house, than if I just cleaned it, so I stopped with the rehab work except for my considerable knowledge of how the needle nose pliers work to do major rehab work.
My paperwork contains all the points of law for doing a Subject To deal, however I recommend running it by an attorney or title company to make sure it is State Specific. I would suggest talking with an attorney for the correct paperwork, if the understand what a Subject 2 deal is or if you have Title Companies contact them with what they require.
John $Cash$ Locke
Valley,
Where do you live in Alabama?
I’ve done several here-n-there.
Let me know if I can help.
Cash,
Forum still “on vacation”?
Thanks John , I just listened to your audio call, It was awesome. I recommend it to anyone wanting to do sub-2 deals. It was a great help.
valleyalabama
Thank your for your kind words. Jason, knows the Subject To business and is the type of person that will help you.
Jason,
Waiting for Javi to get time to upgrade it and he is on assignment for awhile.
John $Cash$ Locke