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Subject to and Insurance

There are a lot of things you need to be aware of if you are investing in real estate using creative financing strategies. Specifically subject to deals.

I recently wholesaled a sub to deal in Texas that everyone passed on. The owner tried to list it and know one would close on it. So as a person that likes to solve problems, I started to dig into the deal.

The seller was anxious to get out of the house as he was behind in payments and had gone through a divorce. He was just over it all. I made a tentative deal with him that would have given him $25,000 to walk away after inspection and COE. 

As we were doing the inspection, I noticed cracks that had been repaired at the foundation. So I asked the seller about it. He told me that there had been an issue with the foundation in the past and that he had gotten it repaired but didn't have the information anymore to the contractor that did the work. 

We hired and inspector who informed us that there was significant foundation...

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