EP 33: A Due on Sale Call Breakdown with Steve Keighery PART 2

Subject To deals have a LOT of moving parts to them and are inherently risky for all parties involved but investors still tackle these deals because of how profitable they can be and how they allow you to manipulate the interest rates in the marketplace. Success in these deals comes from knowing how to properly structure them and how to protect all parties involved, including yourself as the buyer. Join us in this episode as we deep dive in extensive detail one of the scariest risks in a Subject To deal: the Due on Sale clause being called due immediately after purchasing. Make sure you check out Part 1 here to get the FULL story: https://www.youtube.com/watch?v=kl3GmhHeCA4&t=2469s. Courtney and Steve cover many topics in their conversations but some you'll want to pay attention to are: -his experience with Subject To deals before getting the Due on Sale called -the details of the deal (where it came from, the sellers motivation, the numbers, the exit strategy, etc) -the exact timeline of the Due on Sale being called -how he was notified of the Due on Sale being triggered -how the Lender found out about the Subject To transaction and why the clause was triggered -what solution he found to keep the deal and survive the Due on Sale being called -how the Seller acted during all of this and what communication looked like -his conversations with the Lender about his role in the deal -his numbers after he executed his rescue plan -among other important conversation pieces We hope you enjoyed the conversation and got something out of it to help you on your journey. This episode was sponsored by Investor Property Loan, the DSCR lender who saved the day on Steve's failed Subject To deal. There is a reason they are the most reviewed lender on BiggerPockets.com! One important piece to this puzzle with Steve's short time frame was that they didn't require him to own the property for 3-6 months+ like some other lenders require. This is requirement is called a Title Seasoning period. Oof! That could've killed the refinance for Steve or forced him to find another option. Need financing for your next deal or need to refinance? Check out their DSCR products, which is an asset based product, by checking them out at www.investorpropertyloan.com/DSCR. You can find their rates, fees, and terms there with a few clicks and you don't even have to give them your info unless you want to move forward. This will help you underwrite deals faster. What a great tool! Want a direct contact? Check out Alex Bekeza (NMLS:1711070) on his socials at https://www.instagram.com/alexbekezathebrrrrlender/. Don't forget to tell them that Courtney sent you! Want to connect further with Steve? You can find him on Facebook at / stephen.keighery . If you would like to connect further with Courtney, visit CourtneyFricke.com. Make sure to like, subscribe, and share this episode if you found value in it. Thanks for tuning in! More are episodes being uploaded weekly. We welcome show ratings and reviews as it'll help us get in front of more folks with these messages.