Subject To – Real Estate Investing For Beginners

And you go to the store and you pay full retail, you use your American Express, you walk out the store, and you’ve got a receipt that says you you spent $200 And you have a grocery cart full of $200 where the hotdogs? Yep. Why would somebody come up to you and pay you what it was worth or maybe even a little bit more than what it was worth. And what would they do with it? Why would they why would they even be willing to do that? Well think about it this way.

What if I went to Cody I said hey, I want all those hot dogs and I could go out and I could stop start like a hotdog stand and then say have me, you know paying Cody $225 or $250 for a bunch of hot dogs. I could go out and actually cook those hot dogs sell them, you know, in front of a ballpark or at a park or something like that. And I can make $500 $600 or whatever, right? Yep, yep. It’s the same thing with housing. So what Cody and I have done so many times, countless times. In fact, we just got a triplex in Fayetteville, North Carolina.

We got a four bed four bath house in Texas we got a six bed six bath house in Florida coming down the pipe, we’ve got these amazing Airbnb is all over the country. And we’ve bought all of these houses utilizing this same method. Somebody else went out and got the the mortgage, somebody else went out and borrowed the money in their name. And all Cody and I are doing is asking them to transfer the ownership to us. And we just make payments to their quote unquote, American Express card. So we didn’t have to qualify for the loan.

We didn’t have to assume or put our name anywhere. Literally, literally took over somebody else’s credit card payment and just bought and took over the groceries. Okay, transferred the receipt. So it’s kind of the same thing. If you ever been to Costco Cody, I don’t know if you’re old enough to care about Costco. I would go to Costco when I was a little boy with my grandparents there. That’s when you got to go get like 18 kids and you need to buy like the giant rolls of toilet paper. Like 100 You remember what happened at Costco that they took your what do they do right before you walk out the door?

Check your receipt, they do a little check a little check off on your and make sure that you are the owner you paid for the groceries right? Yeah. Okay, so when I’m walking out of the grocery store out of Costco, do they ask me who I borrowed the money from? Do they ask me what credit card I used to they asked me whose credit card I use. Now they’re just like, Yo, did you pay for this or not? That’s exactly how it is and subject to so what happens is subject to is that the only thing that matters to me is is my name on the deed. Right? So many people like that’s not possible, but you can buy a house without a loan without qualifying without an assumption.

Okay, but you do it with groceries and you do it with basically anything you buy your credit card with. You’re borrowing money to get something and the person you borrowed the money from doesn’t own it. And technically, I could go sell that or I can let somebody take over my car payments. I could let somebody take over you know my groceries like we talked about. We’ve taken over air conditioning payments we’ve taken over IRS liens we’ve taken over state and HOA liens, man there’s so it’s endless what you can do with subject to and it’s not just houses it’s literally anything else.