man

I'm with you... I can't find a penny / nickel saver around here either.

The two ways Michael has taught us to make it as risk free as possible (its impossible for any type of investing to be risk free) is done in several ways. First off we start payments as far into the future as possible, two months prefferably. The other thing is there is a 30 day cancellation clause in our contracts, which gives us the first 30 days to walk away if we think we won't be able to move the property because something unexpected comes up. And thirdly, theres a clause in the contract stating we can cancel it at any time during the agreement, and not be held responsible for more than 1 months rent. While that is not risk free, I can afford to fork out one months rent if I have to.

Great Idea TPSG! Sounds like something we may all want to do, and the great part is we are all in different geographical areas, so we don't compete with each other Did you end up with a deal after talking to the homeowners? Keep us updated!

bella, where in the central valley are you located? I too am in the central valley, Modesto to be exact.

Sorry to butt in here... Putting flyers on car windows is a big no-no. You can get in a lot of trouble doing it. How do I know? Lets just say personal experience is a bit**. You can put flyers on doorsteps, but not on cars, and especially not in or on mailboxes. Just trying to keep us all out of trouble here.

Yes, actually I can reccomend a great book. I just spent the day studying the heck out of it, and it teaches you practically everything you need to know about subject to's. The author reminds me a lot of MichaelC, as he gives you full support. He gave me his email address, and even his cell phone number should I ever need help, or get stuck when I'm dealing with a potential seller. The manual will cost you around $160, but let me be the person to tell you, it's worth every penny. I don't think I could have made a better purchase than Michael's LO manual, and this subject to manual. I don't want to advertise anyone's work here, so I have PM'd you the link to the website for this Subject To book. Let me know if you have any questions, or better yet, let the author know and he or his assistant will be happy to help you. -man

Hey everyone. I haven't posted anything on here for quite a while. I'll be there on Thursday evening for the teleconference, so hopefully I'll get to meet some of you. My question today was for Michael. I've been reading up quite a bit on different methods of investing (I have some capital, so I'm not focusing only on l/p). Michael, have you heard of 'Subject To' purchasing? It seems to have some more benefits, and it seems easier to get the buyer qualified for a loan of their own after your term is up? Also the title is transfered to your name. Just wanted to get your thoughts on this. Thanks!

rburke, I wasn't fortunate enough to get out of the stock market before it crashed . The beauty of lease purchasing is there is no risk to you. If the market collapses, the worst I can see happens to you is that you pay the owner an extra month of rent, and cancel the agreement (you should always have a cancellation clause for you to get out if needed). Just get out there and start making some deals... don't get discouraged before you start. Good luck!

My question is... If I file the paperwork for a LLC, do I still need to have a regular business license through the city I live in?

Regarding title companies... I have found that they are more than happy to help you once they know what you are trying to do. I contacted an agent at Chicago Title Co. They gave me an account to their premier services, which I can log into from my computer and get instant property profiles. Along with that, I let him know what I'm planning on doing, and he wants to setup a meeting with me for next week to introduce me to one of the escrow agents and give me some material. Cool deal for me

Samantha, I'm curious, can you post what the ad you placed looks like? And in what section of the newspaper did you put it under?

I have a question about filling out the 'Authorization to Release Information' form that I got with Michael's book. The first four lines are common knowledge, but the area I'm not sure about is the 'TO' area (with four lines). Do I fill out my name and address there, or do I fill out the loan companies name and address there? A quick reply is appreciated. -man

I'm looking for a copy of the Purchase and Sales agreement (mls contract). Does anybody have a copy they can email me? Thanks!

To run in our local paper, that exact ad would cost $165.00 per 12 days. A bit costly... But well worth it if it gets you just one deal.

I have heard that some people offer mobile notarization services, where they will actually drive out to wherever you need them to notarize a document. Of course there is a slightly higher fee for this, but it may well be worth your time and the homeowners time.