I am very interested in doing sub 2’s. My question is that CA has a lot of state-specific laws regarding investing and I was wondering if there are anybody that has done these in CA.
Do you need to complete a full escrow? Do you need a specific contract? Is there anything special when it comes to the “unconscionable advantage” laws?
I was looking at Sub2 Magic and it looks pretty good as a base to start form. Any tips?
Your best bet is to go to a local real estate investor’s group and find a seasoned real estate investor who is doing business already and ask who he/ she uses for a lawyer to complete your transaction for you. This way they can keep up with these rules and advise you on what the paperwork is required. And instead of focusing on the paperwork your focusing on doing deals. I pay my lawyer $300 every “subject to” deal and i don’t worry about a thing. I sign a purchase and sale agreement with my seller and tell them to meet my attorney to finish the rest and I’m done. Good luck.
Not that I am aware of and I buy Sub 2 all the time.