🤔 How to buy real estate with a bad credit score #creativefinancing #realestateinvesting #subjectto
Summary
AI-generatedSean Pan explains how to purchase real estate with bad credit by using "subject to" strategy, which involves taking over the seller's current mortgage and allows you to buy more real estate without getting a loan yourself. Banks usually don't care as long as payments are being made; however, they have the right to ask for the entire balance back at any time with something called the "due on sale" clause.
Key insights
Most banks won't care as long as you keep making the payments.
Mistakes to avoid
Be careful using the "subject to" strategy, because lenders can legally ask you to pay back the entire mortgage balance at any time with the "due on sale" clause.
Tools & resources
Good Sweet Homes Masterclasscourse
Free masterclass that teaches you how to buy your first rental property.
Curated by Learn STR by GoStudioM · Summary & key insights generated by AI · Reviewed by editorial