All Forum Posts by: Brian Sinclair

@Account Closed - I will share as the journey is made to success! 

I have been a real estate investor and real estate agent in the state of Maryland for the past 10 yrs but I have never learned or worked with probates. 

I work with you on the deals via a Joint Venture Agreement but I will NOT pay a mentor fee! 

Exit strategies :

1. Buy the property with my CA$H partners for resale via Lease Option.

2. List the property on the MLS for retail, lease option or sandwich lease option.

@Denise Southard - In Maryland the probate records are online for FREE. If you care to share the system with me, I would be happy to work deals with you in Maryland.

MD Register of Wills = http://registers.maryland.gov/main/search.html

MD Land Records (Deeds) = https://mdlandrec.net/main/index.cfm

MD Tax Records = http://sdat.resiusa.org/RealProperty/Pages/default...

Being a licensed realtor and lease option specialist I find probates to be a great source for deals that create Win-Win-Win solutions for everyone.

I am interested to learn this system too. 

@Wayne Brooks - Thank you for you input. However your answer is of no help to the question at hand.

Is there a list source for REO properties without having to work with Realtors or tracking down asset managers?

Example: I am in Baltimore City, Maryland. I do NOT want to deal with all the REO Listing agents and I also do NOT want to have to look up every bank and try to track down the asset managers in order to get the list.

So how do you get the list without dealing with Realtors and without tracking down asset managers?

@Joe Villeneuve - No I don't think you are pretty much right. What are the benefits to the REI you ask..

1. Well what all do you have to go through to obtain a loan with HML?
2. What do you have to come up with for a HML?
3. Plus you secure the property today and gain the appreciation difference in 3 years. 

I believe if the HML process and HML cost are in comparison to this program much harder and more expensive.

This program is for those that want the properties they find and want to be purchased and added to their portfolio with the least amount of upfront cost in order to obtain positive monthly cash flow now and make their profit on the back-end. 

@Joe Villeneuve - No I don't think you are pretty much right. What are the benefits to the REI you ask..

1. Well what all do you have to go through to obtain a loan with HML?
2. What do you have to come up with for a HML?
3. Plus you secure the property today and gain the appreciation difference in 3 years. 

I believe if the HML process and HML cost are in comparison to this program much harder and more expensive.

This program is for those that want the properties they find and want to be purchased and added to their portfolio with the least amount of upfront cost in order to obtain positive monthly cash flow now and make their profit on the back-end. 

@Harriet Baldwin & @Joe Villeneuve - Thank you for the feedback. 

We have reviewed the numbers of the program and this is what we have come up with.

Example of a Transaction... 

You have a contract with a seller. You contact us to buy the property. You provide contractor quote for repairs and CMA. We agree to move forward. You assign that contract to us for $1. If title work clears, we go to settlement on that property. At settlement we create a note against the property with the purchase price, loan origination fee, processing fee and closing cost included.

Now we sign a Lease Option agreement with you for 10% more than the note amount on a 3 yr term. The option fee is 5% of the Option price. You are required to give 2 month's rent upfront for the lease. 

$50,000 - Contract Price w/ Seller

$55,800 - Note amount created from Purchase

$62,000 - Option Price 

$3,100 - Option Fee

$725 - Lease Monthly Payment

$4,550 - Down Payment

Here is an example of the numbers...