www.localmentor.com Colorado Real estate investment expert, Michael Jake, teaches zero down investing techniques. Learn foreclosures, short sales, subject to, land contracts, owner financing and other creative real estate financing structures. Free Colorado real estate investing course teaches you how www.localmentor.com
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22 Comments
Very nice real estate video
@localmentor – selling the LLC to the buyer and then closing to oontract works, again, with an investor buyer, your retail buyer can’t do the deal because their mortgage lender will want them personally on title.
@juicyfruitzy – you can add that in the contract but it’s likely going to get killed by the lender. If it does pass, you’ll need to get your fee from the buyer – if it’s a retail buyer, they likely won’t understand or have enough money to pay you and their down payment and their closing costs (which would likely kill the deal)
If it’s an investor buyer and they are paying cash or hard money then it might work.
Most of the Shorts i offer on are MLS listed and I use an LLC as buyer and sell it
is there any to contract assignment on a short sale so you don’t have to do a double closing?
Thanks for posting this video. Very helpful information! We are currently trying to implement some of these ideas into our business plan.
@stonecoldjason That is a bit of a joke… I have a mentor I’ve been talking to for 2 months and yea, he did hold my hand, but don’t bash it because you haven’t tried or you got burned.
No, but you do have to follow you states foreclosure laws and disclosures. many who work volume short sales get a license to make money on some they can’t (or it doesn’t make sense to) double close.
for short sales, do you have to be a licensed real estate agent to do a short sale?
THANK YOU. THERE IS A GOD
Good stuff.
Here is my case: I have a property in Grand Blanc,Mi. right next to Warrick Hills golf course, (where Tiger Woods plays).
The seller wants all cash, end buyer cannot qualify for a mortgage right now, Their income will pay $3,000 per month. Here are the numbers:
Condo-Home appraises at aprox: $ 275,000, seller desires $267,000
(we have purchase funding for 30-days) must have an end-buyer at close,
How do I get referral or set-up fees? property under contract 30-days! Help!
there is millions of dollars in advice here
haters hate
investors invest
mentoring is a scame do not fall for it they get your money with the promise to hold your hand threw deals, and you can never get in touch with them
no, I’ve trained people in most states
is your mentoring and methods only helpful to people in colorado??
hey mike, i sent you a message, check yoour inbox.. but im from Massachusettes an anxious to invest could you help me, here, being from massachusettes, or??
I gave you several variations in there, I just didn’t label them with a number. re-watch the video!
This info was great but… ;o) You stated there are 15 ways. You got to # 11 “100% Owner financing” and then the next subject was “Lease Option” (#15). I really would like to hear options 12-14.
I’ve watched several of your videos and really like them. You’re one on one helps are by far your greatest service.
yes – it’s a contract for deed, no deed of trust, you can and should file a cloud on title like a memorandum or a performance mortgage/deed of trust. The actual deed gets – or should be escrowed till paid off – likewise a Q/C deed should be escrowed in case of default.
I typically use ILC only when SELLING, not buying. I have used for buying, but only for short term solutions. I prefer buying subject to or owner financing so I dont have to worry about the seller messing up the title.
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Thanks Alot!
Great info! In an Installment Sale, there is no Deed of Trust, just a private contract which is held privately between you and the owner? In what case would you use this type of deal? Thanks again!