Hello all.
I’m one of the many newbies floating around on the board.
Was just curious if there’s anyone in Alabama that I could maybe touch base with from time to time regarding Sub 2?
Thanks!
C’mon!!!
I can’t be the only one from Alabama on here!
???
<<I can’t be the only one from Alabama on here!>>
Sure you can…you’re just not trying hard enough!
Patience, my friend…not all of the users read the Forums every day!
Keith
I happen to call Alabama my home.
What’s up?
Let’s talk…
Cool beans! Where in bama are you from? I’m in the Huntsville area trying to get my start.
I was hoping to correspond with someone that’s done a couple of sub 2 deals in AL that I can bounce the occasional question off of. I’ve just joined a local REI club, but I can’t say that I’ve run into anyone just yet that’s too fond of sub 2. But then again, I still haven’t talked with everyone.
Have you had the opportunity to utilize sub 2 in any of your deals? If so, have you run into any challenges specific to our state?
Any feedback you can provide is really appreciated!
thanks!
Matt
Hey Matt,
Huntsville, huh?
Nice area and plenty of houses that need to
be bought.
I currently live in Bear Creek (Marion County) and have done deals in the surrounding areas.
Rural areas mostly.
Yes, sub2 is my main niche.
I plan on moving to Florence in the near future.
Alabama is pretty lenient as far as paperwork and regulations.
When I first started, I asked my local attorney about the paperwork and contracts. Rather than charging me any $, he suggested I go look up any and all real estate-related documents that was done through their office and simply copy actual deeds, notes, agreements, etc. and just change names, terms, and dollar amounts.
And if I had any questions, to check back with him.
I did as he suggested and I still ran things by him to make sure I was good to go.
I still suggest you run any and all paperwork by a competent REAL ESTATE attorney. Even if you have to pay for it. It’s better to pay a little up-front now than having to pay a ton later when you’ve screwed up and used the wrong paperwork. As those that are currently doing deals in your investment group to point you in the right direction. This is the main benefit of becoming a member…networking. Use this to your advantage, but don’t take it for granted. Be sure to give back in any way you can.
As far as your local investing group, don’t let anyone discourage you in what you want to do.
In the case of sub2s, those that weren’t “fond” of them, either don’t understand them, don’t use them as their primary way of buying, or perhaps they may use them afterall and might see you as competition. This is petty, should it be the latter.
Why type of deals do the majority of the members deal in?
Hi Jason,
Sorry for the delay in the response.
I wasn’t sure what kinds of deals most members utilize, so I thought I’d ask a few at the next meeting which was this past thursday night. Unfortunately, I wasn’t able to make it because my wife developed pneumonia and I’ve been caring for her and our three children.
Thanks again for getting in touch and allowing me to pick your brain from time to time.
I do have one favor to ask…If I pm’d you with my email address, would mind sending me a sample of a sub 2 contract you typically use for you Alabama properties? I’d really appreciate it.
Thanks.
Matt,
I wish your wife a speedy recovery and I hope she gets to feeling better soon.
Take care of her 1st, then whenever you need any kind of help
you can contact me whenever you wish.
Take care,
Jason
Keth is right, been to busy to help every one.Subject to been around. Subject to is a back door to get out of a contact, if you do not have a buyer,or financing.But you still need to have your ducks in a row. Just ask.