Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Innovative Strategies
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 6 years ago,

Account Closed
  • Tampa, FL
53
Votes |
51
Posts

These guru's must be stopped. What's going on here?

Account Closed
  • Tampa, FL
Posted

Hello all,

After doing a ton of research, it seems to me that real estate investing gurus and their "subject to" teachings are going to turn good people (ignorant people) into felons.  Just because someone is ignorant, doesn't make them a horrible human being. It seems to me that good and perhaps slightly desperate folks are drinking the "subject to" Kool-Aid. 

They're teaching people to "acquire" property using "subject to" and cash flow it via lease options.  I've consumed copious amounts of  content on the subject - free and paid.  

I notice these folks conveniently ignore what can go wrong when Bob pays your lease option fee, first month, and security, then loses his job 12 months later.  They don't tell you what to do then, and that depending on the state and the number of these deals you have running, you're instantly a felon when you fail to make payments and the home is foreclosed on.  

They don't tell you that you cannot evict Bob because he has equitable interests in the title and it can take 120 days or more, plus legal fees, plus repairs, plus MORTGAGE payments, to finally get him out of there.

I was sitting here planning to lease option my primary residence and I wrote down my "doomsday scenarios" and realized that I have to spend more money than I thought for legal help to understand and / or mitigate the risks...  

I'm wondering how this subject to --> lease option business has not been exposed for what it is - a minefield rigged against those who are bad at risk management. What are you guys' thoughts? 

Loading replies...