ONE-ON- ONE
SUBJECT-TO DEALS
Every once in awhile, the real estate forces converge to create a great investment opportunity. Because the marketplace is ever-changing, mobile home parks are once again an attractive investment opportunity. Towards Wealth works actively in the Mobile Home Park investment space, with its investment partners and with new mobile home park development syndications in Texas. TODAY, THE NUMBERS WORK. With an opportunity to make huge returns.
Real estate investor for more than 35 years, licensed Realtor ® in Texas, and founder of Towards Wealth. MEET JIM GLASGOW
ATrickyTransaction Creates aWinning Combination SUBJECT-TO DEALS CAN BE THE “ESCAPE ROUTE” YOUR SELLERS ARE LOOKING FOR.
by Carole VanSickle Ellis
hen most investors think about buying real estate for extremely low amounts of money (think: between $10 and $100), they think of wholesal- ing contracts. Jay and Annie Adkins of Prudential Integrity One, however, actually purchase rental properties with built-in financing on such a budget using a strategy called sub- ject-to investing. This strategy enables them to gain control of real estate and associated financing without having to bring large amounts of money to the table. Think Realty Magazine sat down with the two to learn more about the details of their process. W
JAY AND ANNIE ADKINS Most of our subject-to sellers are burned out landlords. We do a lot of fix-and-flips, and sometimes our leads do not meet those criteria, which are basically that we want to buy the property, do the repairs, and be all in for less than 70 percent of the after-repair value (ARV). If we only flipped houses, then anything that did not meet those parameters would be a throwaway lead. However, as most real estate investors probably know, a lot of good leads tend to come from tired landlords who are having trouble with their rental properties. If that is the case, then we consider them for a subject-to deal instead because they are often a perfect fit for this type of transaction.
SUBJECT-T0 DEAL: When a buyer purchases a property subject to the existing mortgage. The buyer agrees to make the payments on the property and the seller transfers ownership but is still legally responsible for making payments on the property. CALLINGANOTE DUE: When a bank accelerates all payments on a loan to make the entire balance immediately due. Usually banks include the right to do this in their loan agreements.
LET’S PUT MOBILE HOME PARK PROFITS IN YOUR POCKET Call Jim at 210-413-7230 or visit www.towardswealth.com today!
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THINK REALTY MAGAZINE
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This is not an offer to sell or a solicitation of any offer to buy any securities. Offers are made only by Prospectus or Private Placement Memorandum, or other offering materials. To obtain further information, you must complete our investor questionnaire and meet the suitability standards required by law. Some opportunities are only available to accredited investors.
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