Discussion Forum

Buying SubTo in California

Posted by: Aviator
Posted on : 9/29/2011 8:39:48 PM

Is anyone buying property subject-to in the state of California? Are there any restrictions to buying sub-to there? Any restrictions to using the contracts for deed and wraps strategy there?

Thanks in advance.

Mike the Aviator

Re:Buying SubTo in California

Posted by: WilliamGA Still Master of ALL I Survey
Posted on : 9/29/2011 9:01:12 PM

Hi Mike,

I have never personally bought in CA but I do have students who do. Hopefully one of them will speak up and offer some advice for you.

I will say that there are no laws currently in place that would prevent you from getting the deed in CA or any other state.

While the govt has seen fit to take away many of the rights guaranteed to us by the constitution, so far the right to sell what we own as we see fit has not been taken yet.

William Tingle
www.Sub2Deals.com
williamtingle.com
williamtingle.us
williamtingle.net

How beautiful would this world be if we all practiced what we preached?

Buying SubTo in California

Posted by: Aviator
Posted on : 9/30/2011 11:20:54 AM

Any Californians out there want to chime in?

Buying Sub2 in Cali

Posted by: RSB
Posted on : 10/3/2011 6:18:56 PM

Sorry not from Cali but I am sure you could get that info at your local real estate club. Also ask for recommendations for lawyer or title company that does creative real estate deals.

Good luck to you.

Buying SubTo in California

Posted by: Aviator
Posted on : 10/9/2011 2:46:51 PM

@RSB. Thanks for the advice, but I'm not a California resident. I'm in Colorado. I may be in California on assignment for awhile and wanted to test the water there. I'm looking for go's or no-go's for working the SubTo buying and wrap with a "contract for deed" strategy there.

Does anyone from California monitor this newsgroup? I'm looking for advice from some like-minded fellow r.e. investors here!!!

Mike the Aviator

Buying Sub2 in Cali

Posted by: RSB
Posted on : 10/10/2011 10:20:01 PM

Mike,

Sorry to keep butting in. Here is a list of Real Estate clubs in Cali. They include email addresses so maybe you can contact a few and ask about Sub2.

I have contacted clubs before that I have never attended and always found the people very open to answering questions like you have.

http://www.reiclub.com/real-estate-clubs/California.html

Re:Buying Sub2 in Cali

Posted by: Aviator
Posted on : 10/11/2011 11:03:52 AM

@RSB... thanks for the link to the Cali rei clubs. I was hoping to get some answers through this forum, but I guess there are no California REI investors monitoring it. I've been involved in investing since 1988 and I'm well connected here in Colorado. I taught a fix-n-flip program awhile back for a year. Since I may be on a job assignment in SoCal I thought I'd test the waters with the SubTo strategy there during my stint.

I guess I'll have to reach out to the local Cali REI groups for answers.

Thanks again,

Mike the Aviator

Buying Sub 2 in Cali

Posted by: kenpgh customer service
Posted on : 10/23/2011 10:42:45 PM

Aviator,

I have family in CA and was looking at some houses out there a couple of years ago. I called a title company (I believe it was Chicago Title). The woman there was very knowledgeable and she said that SUB2 was definitely something that they were able to handle and dealt with quite often.

Give Chicago Title or some other title companies a call and the REI groups as well. It should give you a clearer picture of what is going on in that state with SUB2.

Re:Buying Sub 2 in Cali

Posted by: Aviator
Posted on : 10/25/2011 1:40:15 PM

Thanks Ken. I'll look into local investor groups for info, and network to find investor friendly title companies.