All Forum Posts by: Ivan Jouikov

Questions:

1) Whenever creative financing is involved, ie subject to seller's existing financing or lease option with the seller, the Realtor doesn't get anything because no sale takes place - correct?

2) How do you get past the realtor so you can talk to the owner directly? Send mail/knock on door? Can you get the realtor to release the seller's contact information?

Jeff I'm only 22.

My dad's biggest objection is that "back in Russia, we did business like men" and here business is about ripping off the weak ones.

I think I do agree with you about the "lemming" mentality in America as you put it.

I don't think I have guru mindset and my results will come when the puzzle comes together :)

Huh? I'm not trying to devleop software, I want to get existing one.

I couldn't find a better forum to post this in.

I'm looking for an online invoicing solution (not necessarily real estate related). What I basically want is ability to have paper/email bill sent to customer with a few clicks.

Also I'm looking for a good "small business" accounting solution that would hopefully tie into the invoicing solution.

Any recommendations?

Can someone recommend some good sources for learning in-depth Jon's list:

Subject to (full control to buyer, very little recourse on seller's part)
Wrap (fully control to buyer, with a deed of trust which gives the seller some rights)
Land contract (some control to buyer especially with a recorded contract but seller retains the deed.)
Lease/option (limited control to buyer. Lease only conveys tenant rights, option contract won't survive a foreclosure against the seller, seller retains deed.)

Thank you all for your knowledge. I love the fact that my vocabulary is already miles away from most people I associate with, yet there's still so much I don't know.

As far as I know land trust does "hide" your ownership from public record, but doesn't eliminate Due On Sale clause (but everyone claims banks almost never excercise it).

Why is it shady to use land trust?

How do you take control of the property otherwise, if the seller remains in control of the property?

Would you say the "best" sub2 from investor point of view is:

1) Get seller to agree
2) Put a property in land trust with your LLC as beneficiary
3) If you stop making payments, the seller becomes the beneficiary.

Does this mean you will have to educate the seller about land trusts?

The more I learn the more I realize how little I know...

I'm comparing selling sub2 to "lonnie deals" for mobile homes.

You sell sub2 and someone makes payments for a year and then stops. If the contract is right, don't you just take the property back and you just got 1 year of payments for free?

I mean you might have to deal with kicking out tenants or something, but overall, isn't it a good thing?

Why do you advise against selling with subject to?