elisa

thank you Michael.....Yupper... I am very nervous about the reverse mortgage, the daughter told us that when the father dies, any monies must be paid back... I would rather leave this one alone, but my husband (bull headed as all get out) just hears the "I just wanna give you my house" part. Harder part is that to speak to an attorney about it, our attorney just tells us that it is illegal to even take a house sub to... so we get nowhere there anyway.

I guess my Title asks it all.... a seller wants to Sub To his house to us that contains a Reverse Mortgage, (the father who put the Reverse Mortgage is in a nursing home)... we were going to Lease Op it straight away.... I am getting those butterflies in my stomach though, not so sure of the Reverse Mortgages and how they behave in these circumstances.... anybody have any knowledge and/or experience with them in this capacity? thank you Merry Christmas

I am rethinking my stance on taking a property Sub To. I am hearing horror stories that the homeowners are crying fowl against investors who did a Sub To with them while they were in Foreclosure. Anyone know anything about this or has anyone heard of any new laws we need to be aware of? Not like there aren't alot of Laws already! Govenment get outta our stuff! merry christmas Happy Birthday Jesus

Hi all, Michael, I had emailed you but if your mailbox is like mine, I thought I better post in the forum... I have a question about the new $8,000 tax credit. Some associates are telling me that I can do a sandwich lease, and keep that tax credit money since the buyer can exercise their option to purchase... I feel uneasy about that... am I being too skeptical? Can we in fact, do a sandwich lease and utilize that tax credit for our benefit? I will be looking forward to your response! elisa kauffman-slack

Oh Rhett, you're making me blush.... thank you Michael...your expertise is wonderful...your manual is my second Bible. I am almost finished reading/studying it...and ready to start contacting fsbo's and frbo's.....I always avoided these type of sellers and always contacted pre-foreclosures......and with your manual, I realize I am missing a big share of the market. And again, you are right....I am letting fear jump in here....and it is not my friend. (F alse E vidence A ppearing R eal) Ready to just jump on in...thank you Michael elisa

hello all, Quick question as well as unloading....I am quite nervous to approach a few sellers I have contacted to ask about lease purchasing..... The homes that are listed with other investors in the area that are being sold on a rent to own basis seem to be sitting...the investors are doing all the "right" things with signs at intersections that say rent to own...no credit...no bank qualifying, etc... the homes that they are leasing are very pretty and they are in desirable locations, but they are not moving.... I have the fear of this happening to me...and having to make some payments after a while if the home does not move. Michael, I was reading the manual last night and I see where you say, you should insert an easy out clause....how do I explain this to the seller before we do the transaction? thank you for your help elisa florida

Here is one that I have never seen or heard before!! I called a daily newspaper, a fairly small town paper, and began placing the standard We Buy Houses Ad...and get this......the gal told me that they cannot run the ad ......I of course asked why...she said they had other similar ads and they turned out to be scams and now it is the policy not to run any more ads like this... I currently have an Owner Will finance ad running in the same paper.....I told her this and she said well we will need more info on your company and if we can run it ......I will call you back but I doubt it will run... I got a little miffed, told her that talking to a supervisor would be a good idea, she put me on hold and came back and said the super said no deal. WHAT just happened here....am I missing something??? Any ideas or advice? elisa www.realestateforeverybody.com

Hello again, My second post....where have you found to be the cheapest place to order signs..I read a previous post but was unclear as to the results...I noticed someone mentioned Witness...I heard they are really priced well...any suggestions!? thank you elisa