Subject To: The Easy And Cheap Way To Acquire Property With William Tingle

April 6, 2022




GDNI 198 | Subject To

Do you find it difficult to raise large amounts of cash or have good credit? Chris Seveney welcomes William Tingle, the Creator of Sub2Deals.com and the expert in the creative real estate technique known as “subject to.” William talks about how “subject to” investing works by taking over the mortgage payments of the distressed homeowner. This type of financing works best for homeowners who want to move away as soon as possible. They could be in the military, and they need to transfer in a month. Or they could be going through a divorce. The most important thing is that you need to approach people in trouble with a heart to help. Join in the conversation to learn more about “subject to” investing.

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Subject To: The Easy And Cheap Way To Acquire Property With William Tingle

Welcome everybody to another episode of the show. I have a special guest. I have a subject to expert in the house. I have William Tingle. William, how are you?

I am doing great, Chris. I appreciate you inviting me on.

In this episode, we want to educate our readers on the subject to investing. It is a niche industry like mortgage notes are. It is a type of seller financing. It is one of those things where I always have these crazy ideas that come out of my head. This is one that I try to wrap my head around, and I haven’t yet. I am not a big proponent of joining a lot of different groups but I am in this Facebook group and looking to join his membership group because this is something that fascinates me. I want all our readers to know about another asset strategy that is out there. William, why don’t you tell us about yourself and how you’ve got involved in this type of investing?

My name is William Tingle. I have been a real estate investor for about many years now. I was a Restaurant District Manager. I have been in the restaurant industry for about twenty years. Anyone who has ever been in restaurant management knows it is long hours and never gets any better. Most restaurant managers have a lengthy resumé because they are always promised something better at the next stop but the next stop is still 60, 70 hours a week. Nothing ever gets better. I have been doing that for about twenty years. I was married and had a couple of young kids. I’ve never got to attend any events and do things with them. I was tired of that life and was looking for something better.

One night, I was out of town. Our manager quit. I was covering them. It was 2:00 in the morning, and I could not sleep in the hotel room. A Carleton Sheets infomercial came on the television, and I had seen it a million times but that night, I don’t know if something was different. I said, “What is it, $300 or $400? I am going to get that thing and see what it is all about.” I did. I took the cellophane off of it when it came in the mail and read it.

I was overwhelmed at first but said, “I am going to do this.” I did what he said. A month later, I bought my first house. I kept doing it and next month bought another house. I said, “This stuff may work.” I was able to do it during off periods with work, late at night, studying or calling sellers during the day when I had a few minutes here and there.

I said, “If I can do this while I am working, what can I do if I am not working? I am going to quit my job in one year.” I did the math and said, “If I cut expenses, if I do this and do that, if I can buy 24 houses this year, I can make enough money to live on and can quit my job.” I did that. I quit my job. Everybody knows this in real estate, once you don’t have that 60-hour week dragging you down, you can devote all your time to investing. You explode your business. That was many years ago have not had a job since. That has worked out well for me. That is how I’ve got started.

It’s interesting because you mentioned you went to Carleton Sheets and read the book. Typically, in the real estate industry, a lot of that information is very high level. It does not roll up your sleeves and tell you how to do it. Was the information you were given something that gave you a high level to go research it more or was it something that you had some background already?

Chris, I had zero background. My only experience with real estate at that point was the three houses, personal residences that I had bought. In fact, in the first couple of chapters in Carleton Sheets, I remember this very vividly, UPS brought the package. I opened it up, sat on my couch, and started reading. Two chapters in, I sat the book down and said, “I don’t know if I am going to be able to get this or not. It seems like a lot of information.” I knew nothing about real estate other than when you go in to buy your first home, and the attorney sits this 2-inch stack of documents in front of you and says, “Sign here.” I had done that three times for personal residences but otherwise, I knew nothing about real estate. My wife and I were talking about this. Carleton Sheets is very wide and shallow, a little bit about every technique under the sun.

Based on your background that you had in the restaurant industry, I am guessing you were from a management perspective. That’s high stress. You have to have all the ants marching in the right order. Am I right on that from a management side of things, and you had that down? This is out of curiosity because it is going to lead to several more questions about this business.

You don’t have to be a typical landlord; you can do something creative. Click To Tweet

Especially when you manage managers and multiple units, it is a big difference that jumps up from a store manager where you control everything in one environment to a district manager or director of operations where you cover multiple states and locations. You can’t always be there. There are certain procedures that have to be followed. Anytime you are handling food, there are very strict procedures, and then managing people. I was used to controlling what was going on and having a high level of that. Getting thrown over into this new thing where I don’t know much, I spent a lot of hours and nights.

My family would go to bed, and I would not get home until the evening but I would be up until 2:00 or 3:00 in the morning in newsgroups and chat rooms. We did not have Facebook back then to learn. It was the Stone Age for us. I was talking about this with a student. We used to drive for dollars all week and, on one day a week, go to the tax office to look everybody up because we did not have all the tools these guys had.

You had set a goal in one year, quit your job, two houses a month. This is what I tell note investors is, “Set a goal. I want to buy 5 notes or 10 notes and then work backward. It is one a month.” It is something that is measurable. A question that popped in my head, though, is you are buying 24 houses a year. Where were you getting the money for this? What was your strategy from that perspective? I lived in the Boston area and the Washington, DC area. If I wanted to go buy in 2000, 20 houses, I would need to have roughly about $2 million to $3 million easily in my pocket to get started on my own. Where did you start, and where did the funding come from?

The first couple of houses I bought, I was lucky. I had good credits. I did not have a lot of money but I had good credit. I had another investor that I had met in one of these chat rooms. He told me, “If you need money, go see Jerry down at Magnolia Bank.” Remember, I am one month in and a total newbie. I walked in there and had my Carleton Sheets course under my arm. I go in there and tell Jerry, “I want to be a real estate investor. I want to buy these houses.” I had a good presence but he said, “When you find something, come let me know, and we will see what we can do.”

My first couple of houses were investor loans. I found a house at a discount, and as long as it was under tax value, he would fund it. I remember I took my first deal into him and said, “Here is this house worth about $100,000. I can get it for $72,000.” He said, “We will do that.” I said, “Are you going to find the whole purchase?” He is like, “You’ve got to have something in the game here. You are going to have to have some money down.” I was like, “What am I going to do?” I had been reading Carleton Sheets. That is all creative. I said, “Instead of a down payment, how about I put a CD up in your bank?”

He said, “A $5,000 CD. You will not have to put any money in it.” I took $5,000 off a credit card and opened a CD with his bank in lieu of a down payment. I walked away at my first closing with a check for $800. I don’t know how that happened but I left with money in my pocket and I thought, “This is great. Carleton Sheets does work. I’ve got a house, money, and everything.”

Your name is so awesome now because I am tingling with all these crazy ideas. It’s like, “He thinks like me. This is awesome.” That is just incredible, though. It is so creative. I have been on your show, and you get very creative. That is where I felt that synergy discussing it with you in the past. I never thought about that. Also, that is risky. I would tell people, “It is not for the faint of heart. Please, everyone, don’t run out to your bank and throw money in a CD off your credit card.” Those credit card rates will be going up based on what is going on but if there is the opportunity, you found a way to make that work.

I was worried if I started accumulating houses, how do I know people were going to want them? I ran a test ad in the newspaper a couple of weeks before I bought this house that said, “Seller financing, all credit okay.” The phone was ringing off the hook. I knew I could move these houses pretty quickly. I did not have a house at the time but I was like, “We sold that one. What is your name? How much do you have to put down? What can you afford to pay a month?” I had this big list of people who were looking for a house. I knew that right away.

My thing was I wanted to do something creative. I did not want to be a typical landlord. I was going to sell lease options. I knew I had people that had option consideration and would buy the house. I did that. I bought my first couple with the bank and then Shiny Object syndrome. We moved into a sandwich lease options. We did a few of those but eventually, we’ve got to subject to.

GDNI 198 | Subject To

Subject To: Most restaurant managers have a lengthy resume because they’re always promised something better at the next stop, but the next stop is still 60-70 hours a week.

These first houses, you were buying them. You were not going to flip them. You are turning to seller finance them. Can you tell me what a sandwich lease option is? I know what a lease option is but what is a sandwich lease option?

A sandwich lease option, let’s say you have a house for sale and some reason, you were not able to sell it or I just call you up and say, “Chris, I saw your house you’ve got for sale. What would you think about me renting it from you and buying it at some point in the future?” You are like, “That is interesting. How does that work?” I would explain to you that I could rent it from me for a short time. We would agree to a price. During the time that I am renting it, you get to depreciate it, and you get some other tax benefits from that. You can collect cashflow and rent for a couple, 3, 4 years, and then I will buy it down the road.

You would agree to that. I would try to get you to give me as low of a monthly rental as possible, lock in a price with you that is good for the next few years, and then I offer this house on a rent to own or lease option to someone else. At a higher sales price, I get option consideration, which is a down payment, and then rent at a higher rent rate. That is what a sandwich lease option is.

When my buyer is ready to exercise their option at some point in the future, say at $100,000, and I have agreed. You have agreed to sell to me for $80,000. My buyer will exercise their option. I will simultaneously do the same and will make that spread. You were renting to me for $500 a month, and I will rent for $750. I will collect that spread every month for as long as my buyer is in. That is how a sandwich lease option works.

We will roll into subject to now because it is very similar, except you are buying it upfront and then turning around and selling it upfront or putting it on a land contract.

Subject to is, let’s say, the same scenario, you have got a house for sale. Maybe you have got some urgency. You are in the military. You bought the house last year when you’ve got transferred here. Now you’ve got another transfer. You’ve got to move. You bought it on a VA loan, so you have no equity. You can’t afford to come out of pocket to sell it with an agent. That is one scenario.

Maybe you’ve got a divorce or you are in foreclosure. It could be a million different things but you have a reason to sell very quickly, and you are motivated to sell. I approach you and say, “Chris, you’ve got your house for sale for $100,000. Is there a mortgage on it?” You say, “Yes, I bought it last year. How much do you owe?” “I owe $99,000.”

“I can’t pay cash for your house because we have to make a profit but I do have another way I might be able to buy. Are you okay with us making payments on the house until we can get a buyer to get a new loan?” You go, “Sure. I need to move across the country in three weeks.” “We will take over your payments, Chris. We will make them every month until our buyer can refinance.” We do. You give us a deed. We take over your mortgage. You move away. We make your payments. We sell your house on a land contract to someone else for a higher price and a higher payment. We make money on the interest spread. Your loan is at 3%. My buyer’s loan will be around 9%, and we will make that spread, too.

You get it on the front end where there is the Delta and the payments, and then on the backend when it liquidates from that perspective.

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We make money in three ways. In every house we buy, we are going to make money on the front, on the cashflow, and the backend.

How do you find these people? Is it regular snail mail marketing? From that perspective, how do you find these buyers? Are you driving similar to a wholesaler type of thing?

There are a million ways to find them. The best way is to have them find you, whether that is doing Facebook marketing, bandit signs, magnetics on your car, mailing to a neighborhood or you can use wholesalers. That is a great strategy these days. Wholesalers are used to call a million people a week because they have to buy at $0.60 on the dollar.

If they run into somebody that has little to no equity, they cross them off the list, “Sorry, I can’t help you.” They can give you that lead, and you can do something with it, and then the wholesaler can still get a fee on something they would normally throw in the garbage. Wholesalers are a great resource these days but people in foreclosure, people in bankruptcy, people getting a divorce or anybody in a situation where they need to sell are the most likely candidates.

The person that has a ton of equity and a lot of time is they likely to sell to you this way? Not likely, but some will. It is amazing. We had a student that got a deal under contracts. It is his first sub-to. The house is worth $125,000 to $140,000 and needs minimal work. He will spend $5,000 or $6,000 on it. They only owe $66,000, and they are giving him the house. They just went through a horrible divorce. They are both exhausted. This is the last thing. The house is vacant. The boiler exploded in the basement, and they don’t have the money to fix it. As he said, it is about $5,000 or $6,000 repair. They signed off on it. They are giving him the house. Finding somebody in that situation where they are done with it.

I am going to pick your brain here and do a hypothetical because a lot of people, especially on the show but I want to run some numbers by you and be like, “William, how would you approach this deal?” Let’s say I am a borrower. I have a house worth $150,000. The unpaid balance is $130,000 but I’m behind in payments by about $10,000. My payoff is $140,000 and I’m like, “I can’t afford this house anymore. I want to get rid of it but I don’t want to pay broker fees and everything else. A bank would not want me to possibly short sell it. How can you help me out? What would you do for me?”

If your house is in good condition, it needs to sweep off the porch and vacuum the carpets. I would say, “Chris, you owe $140,000 on this house. You are $10,000 in arrears. It is worth $150,000. We can buy it for you. How quick do you want to move?” I would come in. When we close the deal, I would pay off the arrears of $10,000. I would take over the payments. I am going to say that your payments are $700 a month. I would immediately sell that house for about $159,000. I would mark it up a tiny bit. Not much. If I call three appraisers and had a contract on this $150,000 house for $159,000, one appraiser would give me that at least. That is not an issue.

I would sell it for $159,000. I would get $15,000 down from my buyer. That would put the $10,000 that I paid the bank back in my pocket, plus an additional $5,000. I’ve got a house and $5,000 in my pocket. I’ve got nothing in it, and then I would set the payments for my borrower. I would finance the remaining $144,000. I would try to set up payments for between $1,000 and $1,100 a month. I would make $400 a month in cashflow and then another $20,000, $25,000 on the backend 3, 4, 5 years down the road when they refinance. I would make close to $50,000 on this house. It did not have any equity. That is what I would do.

You have done it several times, haven’t you?

GDNI 198 | Subject To

Subject To: We make money three ways: front, cash flow, and back end.

When I lived locally and said that because when I lived in a market, I had lived there for years, I’ve got started in Macon, Georgia. I lived there for twelve years and only did local stuff. We did a couple of deals at the time that were remote. The house was local. The sellers were remote. We did stuff by FedEx but I bought 3 to 5 houses a month when I lived in Macon.

I moved out of the country in 2010 and started buying about a dozen houses a year. That was it because we were doing everything remotely but it was strictly buying subject to and selling with seller financing. That is all we started doing then and all we have done since. At this point, we bought 600 or more subject to houses.

You spent the last number of years building a real estate business that has allowed you to now travel the United States and have some financial freedom because you live off the cashflow that you get every month, plus you get these backends of the deals. There is this typical deal, and then there are deals that were grand slams. You hit them out of a park like the one you said with that first student from that perspective. There are the good and bads.

What is the type of deal that typically does not work in subject to? You mentioned one where the seller may not sell but if you have an aggressive seller that wants to sell, what is from an underwriting perspective, it’s like, “I know you want to sell but this deal does not pencil in.” Is its assets that have negative equity and a lot of arrears on it? What are some of the things that are in your go or no-go of looking at these are like, “Unfortunately, in this situation, we can’t help you?”

The big thing is a lot of arrears. You will see that a lot. You start running into those people with $50,000, $60,000 in back payments. One of my criteria is that we have to not leave a bunch of money. If you call me and you have got a $300,000 house, and you are $20,000 in arrears, that is not too much because I know that I will get $30,000 as a down payment from somebody. I can make up $20,000 in back payments and get $30,000 from somebody else. I am not going to leave a lot of money buried in the house.

Let’s say you have got a $300,000 house. You are $60,000 in arrears. That is not something I am going to be interested in. Negative equity is not a problem. If that $300,000 house, you don’t have any back payments but you owe $310,000, maybe it was a VA loan. You rolled all your costs in it six months ago, and now you have to move. You owe $310,000 on a $300,000.

We can do that if your house is in good shape and you don’t have any back payments. The main things for me are that they are in a good neighborhood, that I don’t have to leave a lot of cash buried in that deal. Especially if it does not have any equity because you don’t know what will happen in the markets and that it will be able to support itself as a rental if the worst-case scenario happened.

Let’s the market tanks next year or corrects, that $300,000 house is now worth $225,000. Let’s say that my buyer in the house goes, “I have $300 on this house that is only worth $225,000. I am out of here.” I can’t, in good conscience, sell that house again for $300,000 if it is only worth $225,000. I am going to be forced to turn it into a rental.

One of the important things is that the payment on the house would make money for me, even as a rental if that is the way that I had to go. The interest rate is important, the underlying loan is critical, and that the payments are affordable. Those are some of the main things, the location, the payment, and not leaving money buried in the deal.

Approach people in trouble with a heart to help. Click To Tweet

I am guessing with interest rates being so low and you being able to assume these loans, that allows for a very nice spread. One of your concerns is with interest rates starting to creep up into the fours. I know when you began, your first house was 6.5%, and at that time like, “This is great.” If they start creeping up there, will that change your philosophies, if most people try and tell you to always stay in single digits on now what you went at? Those rates are creeping up or is it more of the fact that you shift strategy and still work for loans that originated years ago that were low, and unfortunately, newer loans might be more challenging?

I don’t expect it to be too big a problem for a couple of reasons. When I’ve got started in 1999, 2000, it was common for us to take over loans that were 8%, 8.5%, 9% because that is what they had been. If rates start to creep up, they are not going to jump up overnight. That is going to be a process. In the meantime, there are still millions and millions of houses out there, 2.5%, 3%. Those people will get in trouble down the road.

When rates start going up, people get in trouble. Let’s say that you bought a house at 3%. You get behind on your payments five years into it. If the rates are 7% in 5 years, refinance it. You can’t make your payment now. You can’t refinance at 7% and make your payments. They are going to need some other options. I don’t think that is going to be too big of a problem. The second reason is that we are not power players. We are only looking for 10 or 15 houses a month. That is all we are looking for.

When we talk about rates, I know people get nervous because the Fed increases its rates. We need to understand that the Fed rate and the mortgage rates are not related. They are different. People should research that but people just see rates and think it is mortgage rates. The key point that hit upon is, and we have this in the note space, people get nervous of, “Inventory is down.” The inventory is down for the billion-dollar companies. The amount of distressed debt went from $600 billion down to $350 billion or $400 billion. People would get nervous.

I am like, “Most of us are players. We are looking to buy anywhere from 10 to 150 notes a year.” You can put that on a graph above zero of how much of a percent that is. There is always going to be that, and I am sure even in the real estate market now, where inventory is a month and a half supply. If you are buying 20, 30 houses a month, across this nation, there are still plenty of houses out there. Would you agree with that?

They are talking about stuff on market. A lot of the people we deal with are not even on the market. These are people that never list their house. They have a problem, and you have to be there to solve it. The students that I was telling you about came from his marketing. He is not sure if it came from bandit signs or the little ad that he puts in a small local paper that you pick up at gas stations. She saw something he had put out there, and she called him. The house was never on the market or anything. It was off-market stuff.

At this event I was at, the first panel had $15 billion funds, and they were talking. It puts it in perspective of they are still making it work. Us, small fish easily, should be able to make that work. As we start to close out this episode, I definitely want to have a deep dive into another one of what can go wrong in this topic because I get so many questions about it. One question I would like to ask is, I am sure you are helping out homeowners in one sense, do you mind sharing a story where you have helped somebody out from that perspective?

This is one of the unique things. I have been doing this for many years. It is not necessarily a specific story but a mindset that we try to share with our students. We deal with a lot of people in foreclosure. In fact, up until COVID, 2/3 of the deals we did were foreclosure deals. These are people that are in the most distress. A lot of times, they want to sell and move on or get out of the house and get the debt made up. This is something I teach my students, that is a different take that I have never heard anybody else use. We always, especially when people are in trouble, whether it is divorce or foreclosure, approach these people with a heart to help first.

I can’t tell you how many times I have sat down with people in foreclosure. The first thing we try to do is find a way to help them keep their home if that is what they want to do. That is right down to assisting them with calling the lender. A lot of times, people get in trouble, and they are afraid to answer the phone. If they are not making their house payment, they are not making their car payment and credit cards, so people call them all day long, “Where is my money?” They quit answering the phone because they are afraid. A lot of times, the lender just wants communication. “You are behind? That is okay. What can we do to fix it so you can make your payments?” That is what you do with people when you buy distressed notes.

GDNI 198 | Subject To

Subject To: Some students know all the numbers but won’t pick up the phone and talk to a seller.

You want to get it whole and let them start fresh if they need to. That is what the lender wants to do in a lot of cases, too. We will get on the phone and call the lender with them, sitting there, “I am here with Joe,” they will authorize me to talk to him, “What does Joe need to do to get this loan back on track?” We have assisted tons of people with being able to stay in their houses. We don’t knock on the door and go, “I want to buy your house,” and try to talk somebody into it.

First, when you deal with these people, try to help them. If they want to keep their home, do everything you can to help them. We have got one of our students that is loss mitigation and a loan modification specialist. That is what he does. We will call him and bring him into the situation. As far as a specific, we talked to a guy that was in a situation where he had owned this house for seventeen years and did not even know he had an interest-only loan.

He was behind on his payments because of COVID and realized he still owed what he owed when he bought his house. He was behind on payments, so I can’t refinance. We turned him over to Kevin, and Kevin is working with him now, trying to get his loan situated where he can keep his house. He called us to sell his house but we found a way to possibly let him keep it.

It is interesting because our philosophy is identical in the sense that we want to keep people in their home, and you talk about communication. It is unfortunate because there are people out there who will take advantage of the situation. These people are in a very fragile position, and trying to help them. When you help them, they are so thankful but unfortunately, I know some unscrupulous people in this space look at some of these people in distress and like, “I want the property.” They target the property in those sometimes. That can leave a bad reputation in this industry. It is great to hear that there are other people out there who are doing this as part of your students in the classes that you teach and having people have that mindset.

I have a membership group as well, not nearly as large as yours but within our group, I will only take on members who have that mindset. I have turned away people in the past because I’ve got the sense that they were more cutthroat. It’s a business, and you have to run it as a business to protect your financial assets. We give people the option.

The other thing I will mention too is that sometimes bankruptcies are good for borrowers on our side of things. Everyone is always afraid to file bankruptcy but sometimes it is better for them because it allows them to restructure what they have instead of constantly bleeding in credit card debt trying to make this payment and shuffling things off. It could be better for them in the long run, which a lot of people have trouble seeing that. That is awesome. I want to talk for a few minutes about how you do help people. Talk about your membership and what that entails, and if people are interested, how can they reach out to you?

We have a couple of different coaching programs. We have a premium coaching group, Sub2MAX, where we will teach you. Our main program in there is our twelve-house blueprint. That is where we show investors how to use our business model, buying subject to, seller financing, and buying one house a month. Anybody can do it with another job. You do not have to quit your job trying to go full-time investing. How can you create a $500,000 a year business by buying one house a month? We have that. You can find out more about that by visiting Sub2Max.com.

For newer investors that are kicking around the idea of creative finance and don’t want to spend $1,000 on a course, we have got a coaching group, $7 a month. You can go to 7DollarCoaching.com and learn more about that. I am operating that group. I answer everyone’s questions. We have got a lot of tools and documents that you can find in there to help you get started. It will let you get exposed to the concept, learn a little bit about it, and find out if it is right for you without spending a ton of money.

You have it, and it is such a low price but at least people have some skin in the game. What I have realized is when you give stuff away for free, people will take it but they are not investing in it. Make it something minimal, and people will focus their time on it. It reminds me of something on Craigslist. I always tell my wife, “If we ever put anything on Craigslist, we will put a price on it even if we want to give it away for free.” When the people come, we are like, “Just have it.”

You can give away great content, but people don't put value when it’s free. Click To Tweet

When all of a sudden you give something away for free, I have people like, “Can you deliver it?” They ask me 50 million questions. I am like, “I gave you the photo. I gave you three photos. I am giving this thing away. Do you want it or not? I am not going to go spend five hours trying to figure everything out for you.” I will put in $10 then people are like, “Can I come get it ASAP?” I am like, “Yes.” They come and I am like, “Here you go. Take it.”

It is sad. You can give away a lot of great content but you are right. People don’t put a value on free. They don’t recognize the value of it. Many people that want to be investors say they want to be because all they do is collect training stuff on their hard drive, and they never use it. It is like the Carleton Sheets course. Chris, I have bought no less than half a dozen foreclosure properties. I swear to you. It is amazing. I almost thought it was some weird thing that the Carleton Sheets course followed me around.

I bought at least half a dozen foreclosure properties and found in the closets Carleton Sheets courses that were still in the cellophane. The solution to their problem was right here. The difference is I’ve got mine and opened it. I took the plastic off of it and read it. If I hadn’t, if I had just put it in the closet and said, “I will get to it later,” I would still be working in the restaurant industry now.

I started to listen to a lot of audiobooks, and some people set a goal of, “I want to read this many books.” That is what I set. I also have to set the mindset of after I read it, I need to digest and implement what I learned because this is the same thing with investing, you can watch something and learn it, and then you keep learning more but if you are not slowly implementing everything that you have learned in the past into your current state, you are never going to get anywhere. It is going to be continuous learning then you will get backlogged of, “I have all this information. I don’t know what to do with it.” You get analysis paralysis, and you never step in.

I have got students that can tell you six ways from Sunday on how to take a deal down and know how to evaluate them. They know all the numbers but they will not pick up the phone and talk to a seller.

William, it has been a pleasure having you on this episode. If people wanted to reach out to you, what is the best way for them to contact you?

I am pretty easy to find on Facebook, @WilliamTingle. You can send me an email at William@Sub2Deals.com. Come to our website. Contact me from the website at Sub2Deals.com. That is the easiest way to get me.

Thank you all for reading this episode. As always, make sure to leave a review on your favorite listening station and go out and do some good deeds. Thank you all.

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About William Tingle

William Tingle, Host of Sub2Deals.com is a nationally-known real estate investor, investing coach, author and public speaker.

William had worked in the restaurant business for almost 20 years when in 1999, he ordered a Carleton Sheets Nothing Down course off of a late night TV infomercial. He read it and took a $5000 advance from a credit card to start his real estate investing career. Exactly one year later he quit his job for good, paid the credit card off and has to this day never used a penny of his own money for investing.

For over 10 years he operated a real estate business where he wholesaled and rehabbed numerous properties each year but found his real niche in what he calls “Sub2”, buying subject to existing financing. To date, he has taken the deed on over 500 properties and even though he “retired” in Belize in 2010, he still continues to buy 20 to 25 properties a year in this manner in select markets throughout the United States.

He has trained and coached countless students all over the country to become financially successful real estate investors.

William has written several real estate courses. His flagship courses are “The “Ultimate” Sub2 Guidebook” & “Extreme Marketing – The “Ultimate” Marketing Guidebook”. “Ultimate Sub2” covers every aspect of “subject to” investing from marketing to find motivated sellers, to negotiating the deal, to completing the paperwork, to how to market and sell the properties. “Extreme Marketing” is a marketing manual with literally hundreds of both time tested and unique, outside the box marketing ideas to grow your real estate business.

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