Josh Cantwell Middle Man Income system

[David Doyle]

Hey Gang
Does anyone have an opinion about Josh Cantwells Middle Man Income system?
It appears to be a strategy where the investor approaches an upside down home owner,gets an option on the property and flips the option to another investor/rehabber for profit.
Its sounds interesting but is it feasible?
Also Im in S Calif , and I'm wondering what my liabiliies are as a principle doing option deals
This thing is also being "pitched" by 7 to 8 other REI coaches who appear to be associated with Josh,,,

I am having an very hard time finding houses with equity and doing wholesale deals in So Calif.This looks very appealing to my but I's like to avoid wasting time "chasing rabbits down a rabbit hole" if this wont fly in California

Please advise ,,,any help greatly appreciated

[John Jackson]

A lease option assignment, just like any RE transaction, is going to have some risk, but it's of course a matter of greatly reducing your risks. I do about 45-50 lease option assignments a year, and don't worry about it, BUT, I filter out my applicants very well, and don't get blinded by the fact that they "have the option fee". I'm looking at DTI, scores, public records, when was there last late payment, are there BK's, FC's, judgments tax liens etc.
I turn down a large portion of our applications, but the ones that get in are solid and tight, so therefore, the risk is as eliminated as it can be for me and the owner.