Sub-2 + Wrap operations · Built by an operator
The operations team you've been trying to hire.
You closed the deal. Now what?
OPS LIVE
Playbook 60 OPS / DEAL
Leah's history 100+ DEALS
Per operator 10–12 LIVE
If you're closing 10+ sub-2 or wrap deals a year, you already know the problem. Title coordination is pulling teeth. Insurance renewals fall through. The underlying mortgage on your sub-2 needs watching every month. And the people you hired to handle it — your VA, your TC, your admin — quit, ghosted, or couldn't tell a wrap from a sub-two.
REI Boss is the back-end operations team built specifically for sub-2 and wrap operators. Built by Leah Melton, who ran this playbook in her own real estate business before it was a product.
"A lot of money's falling through the cracks, you don't even realize."
Operator · 90–100 deals/year · note origination
[01]The problem
The operations behind a wrap don't fit a generic playbook.
A sub-2 deal isn't a flip with extra paperwork. A wrap isn't a rental with a different lease. Each one has a 12-month operational tail with specific things that have to happen on a calendar — and the consequences of missing them are catastrophic. Here's what we mean.
01
Underlying mortgage verification — every month.
For every sub-2 you hold, you log into the seller's mortgage portal to confirm the payment posted. Miss it once and you've got a phantom default brewing on a loan in someone else's name.
02
Due-on-sale risk profiling by servicer.
Small local bank: elevated. Large national servicer: lower. Government-backed: standard. The risk profile changes what doc package you prepare. A generic TC doesn't know to ask.
03
Annual insurance check — both policies.
Your wrap buyer's insurance AND the underlying mortgage's escrow disbursement. Two policies, two renewal calendars, two failure modes. Generic ops handles one or zero.
04
Wrap buyer late-pay cascade.
Day 10: pre-eviction notice. Day 17: 14-day notice to quit via certified mail (with tracking saved). Day 31: greenlight your attorney. Every month of delay costs you the underlying mortgage payment too.
05
PO Box mortgage statement address.
After closing, the mortgage statement mailing address gets updated to a PO Box — never your home address. Most operators figure this out the wrong way, six months in.
06
Sub-2 doc package (POA, authorization, hold-harmless).
Attorney-vetted templates for limited POA, mortgage access authorization, payment authorization, hold-harmless. The package has to be ready before close, not assembled the day of.
07
Money Lender Pro reconciliation — annual.
Every wrap payment, late fee, balance change reconciled against your records. The tool is archaic but unavoidable. Most operators have never audited theirs.
08
Tax + insurance escrow disbursement tracking.
The underlying mortgage company pays taxes and insurance from escrow annually. You have to confirm it actually happened. When it doesn't, you find out at the tax sale.
"It is like pulling teeth for me. I don't like the dispos of it. You'd almost have to put a gun to my head to get me to go put this thing online."
Operator · 40+ rentals · sub-2 + lease options · Investor Creator alum
[02]What you've tried
You've tried to hire this before. We know how it ended.
Every sub-2 / wrap operator we talk to has hired help. Most have hired help two or three times. Here are the four shapes that help has come in — and the reason each one fails on this work specifically.
Approach 01 · Hired
Transaction coordinator
Runs one deal at a time from contract through closing day. Detailed, professional, expensive ($1,000–1,500 per deal).
Why it breaks
Their scope ends on closing day. Your sub-2 has 12 months of recurring ops after that. They're not there for any of it.
Approach 02 · Hired
Virtual assistant
Executes tasks you assign. Cheap ($600–1,500/mo). Available. Generally reliable on inbox + calendar + data entry.
Why it breaks
Needs every sub-2 nuance explained. Can't recognize a wrap from a sub-2, can't flag elevated due-on-sale risk, can't read a title commitment.
Approach 03 · Hired
Admin / EA
W-2 or 1099 office help. More expertise than a VA. Sits inside the business, learns your specific deals over time.
Why it breaks
Churns. Three admins in five years is the norm. Each cycle costs six months of training. You're back at zero on the playbook.
Approach 04 · Hired
Generic ops service
CRM-as-a-service shops, "fractional COO" packages, build-a-Kanban consultancies. Promise systems, deliver project boards.
Why it breaks
Not specialized. They'll set up your Asana — they won't verify your underlying mortgage payment every month.
"It's my third one, essentially, too, so… we're improving."
Operator · 32 deals/year · team of 5 · on their third admin in five years
[03]Scope
What we run. And what we won't.
Specialized in sub-2 and wrap. Built to handle the rest of your portfolio (notes, lease options, rentals, flips) because the same operator already holds them. Scope is published — and it doesn't change mid-engagement.
What we do
- Title coordination — the wedge skill
- Sub-2 doc package (POA, authorization, hold-harmless)
- Insurance setup and annual renewal tracking
- Utility transfers and filing memos
- Closing prep and document chase
- Underlying mortgage monitoring (monthly portal check)
- Wrap payment tracking + late-pay cascade
- Basic dispo support — signs, listings, showings
- Portfolio monitoring on notes, rentals, leases
- Lease renewal calendar (60-day offer cadence)
- Weekly check-in. Shared channel for updates.
What we don't do
- Coaching, mentorship, or deal structuring
- Originate notes or draft legal docs
- Escrow handling — money never flows through us
- Pay vendors on your behalf — your autopay, your accounts
- Front-yard sign call answering — that rings to you
- Pre-screening every inbound buyer
- Full property management on rentals at scale
- Hourly billing or per-task à-la-carte
- Take over a rental your PM already manages
- Anything we'd execute knowing it'll fail
[04]The playbook
60 operations behind every sub-2 + wrap deal. Most operators run 20.
Codified from Leah's own real estate business — what happens between the moment you go under contract and the end of month 12 of holding the deal. Here's the structure. Each card is a phase, with a few example ops from each. The full list is what we run.
[01] Pre-close
Contract → Closing
~25 operations
- Seller photo album setup
- Inspection + SOW review
- 3 CMAs (different sources)
- Title commitment + lien review
- Insurance bind
- Sub-2 doc package prep
- Due-on-sale risk profile
- Mortgage portal credentials
- Mobile notary coordination
[02] Close + week 1
Closing → 7 days
~8 operations
- Wire verification
- Signed docs filed to Drive
- Seller insurance cancelled
- Investor binder to mortgage co.
- PO Box mortgage address update
- Marketing-side reset
[03] First 30 days
Stabilization
~12 operations
- Wrap exit OR rental OR lease option path
- Marketing graphic + listings
- Innago application + screening
- Background + eviction history
- Doc package via Dochub
- Option fee collection
- Move-in coordination
- Utility transfer verification
[04] First 12 months
Recurring ops
~15 operations
- Monthly underlying mortgage check
- Wrap payment verification
- Late-pay cascade (day 10/17/31)
- Listing renewals (M/W/F)
- Quarterly air-filter mailing
- Annual insurance verification (both)
- Tax + insurance escrow audit
- Money Lender Pro reconciliation
- 60-day lease renewal offer
[05]Pricing
Priced for the work. Not for the time.
| Item | Rate | What it covers |
|---|---|---|
| Onboarding | $1,500one-time | System build-out, portfolio intake, workflow config. No one onboards without a deal in flow. |
| First deal | $2,500discounted | First deal end-to-end. We're learning your stack; you get the discount. |
| Per deal after | $3,000flat | Flat across wrap, sub-2, lease option, note, flip. Contract through close. Collected upfront. |
| Monthly base | $99/mo | System access, weekly check-in, operator relationship. Per-property monitoring billed separately. |
| Per property | Set togethermonth 3 | Continuous monitoring on each held property. Per-property number gets set after we've seen your portfolio's actual workload. Stabilized PM-managed rentals run lightest; sub-2 with underlying mortgage monitoring runs heaviest. |
All fees collected upfront. For lent deals, the per-deal fee can be factored into the funding package.
[06]Who built this
Built in her own business first.
Leah built REI Boss in her own real estate business before it was called REI Boss.
She'd been running sub-2s, wraps, lease options, notes, and rentals across multiple markets — and somewhere around deal 50 realized the operational back end was eating more of her time than the deal-making itself. So she built the systems. ClickUp templates for every deal type. Title coordination workflows. Underlying-mortgage verification routines. Annual insurance check sequences. The kind of operating system most operators keep meaning to build and never do.
The systems worked. Other investors in her network started asking if they could use them. A few asked if Leah's team could just run them. That's when REI Boss became a product.
Leah runs REI Boss with co-founder Mike Bledsoe and an operations team led by Elizabeth Reyes.
[07]Next step
Bring a deal. We'll take it from there.
30-minute call. We'll walk through your existing portfolio and one live deal you'd hand off first. No pitch deck. No "discovery call." Just the work.
Book a 30-min call →·BRAND SYSTEM REFERENCE
Type, color, and component specs below. For partners and collaborators building any REI Boss surface — match what's shown here.
Type system
Typography
One family. Geist Sans for display, headlines, body, and UI. Geist Mono for prices, IDs, data, and structural labels. Engineered for technical interfaces, restrained enough for institutional use. Free, open-source.
The operations team you've been trying to hire.
REI Boss is the back-end operations team built specifically for sub-2 and wrap operators. Title coordination, insurance, utilities, filing, closing prep, basic dispo — then continuous monitoring on everything you hold.
$1,500 onboarding
$3,000 per deal
$99/mo + per-property
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$3,000 per deal
$99/mo + per-property
[01] [02] [03] [04]
Color system
Palette
Cool, restrained, engineered. Forest green primary. A separate saturated green reserved for "ops live" status indicators. Amber and brick for deal-intake yellow/red flags. No decorative use of color anywhere else.
Components
UI elements
Sharp corners (2–6px max radius). No gradients. No shadows except very subtle elevation. The institutional traffic-light tags use the brand's deal-intake palette.
Buttons
Deal intake tags
Green
Yellow flag
Red — declined
Form input
Inline price
$3,000/deal
$99/mo