All Forum Posts by: Jeff Fairchild

In a sub2 you are sending the payment to the bank directly.

The owner "could" stop paying the mortgage, by why would they?

What's this about taking about equity? He handed over his house to you to be done with it. He isn't going to also be asking for a home equity loan.

Nick, he wasn't talking about you of course, for one thing you aren't a guru like you said.

I haven't really heard any of the guru's talking about doing sub2's so you wouldn't be liable. Maybe they used to do that or something.

Hmm...lease option buying and renting out...hmmmm....maybe that could be the strategy I use if they won't sub2 w/ me. But then I guess I'd then need to find a retail buyer somehow.

I had that appointment before learning your stare technique.

Why would cancelling the listing contract not work Dan?

So I arrive at my appointment with the seller, and low and behold, I forgot to ask if she was working with anyone else. There was a realtor sign in the yard. Initially I was wanting to buy the house via a subject to or lease option. What options for buying do I have when the house is listed?

Yea theres no way I would offer $200k for a $900k property. That just makes no sense at all. When you say that it is the only way it would work for you, that tells me that you are being to rigid in your ways. You need to take a deal and structure a way to profit from it, not have "your way" and offer what works for that.

What would you do if you found a 20 million dollar property, offer 1 million because thats what you'd have to buy it at for it to cash flow from someone renting it out?

Nick,
I'm beginning to second guess my sandwich lease strategy. It would be a huge detriment I'm thinking to not have that as a possibility since I'm thinking I would basically lose out on any deal that I wasn't able to convince the sellers to hand over payments. Unless of course I could figure out a different exit strategy when buying on lease options.

Oh boy, here we go again w/ a 4 page thread on bumper stickers

Step 1. Read 5-8 books
Step 2. Write questions down as you're reading the books and come on these forums and search to see if the question was asked, if not ask it.

I'm also wanting an answer to this question. The gist of what I recently read is that you can't advertise a specific offering but you can advertise for investors. This of course makes no sense to me, as you will telling those investors of a specific offering once they agree to invest money w/ u. Anyone else have any experience advertising to them?

No, definitely do not start out rehabbing. Start out w/ wholesaling. Wholesale your properties to your partner who will do the rehabs. Seems like you need to read a few more real estate books. Ask any investor and they will tell you that rehab is about the hardest aspect of investing. Why not take a path of lesser resistance?

Ok, so I found this deal that is sort of out in the middle of nowhere. It is in St. Helens WA, if anyone knows the area. Well anyway, because of this I'm thinking of offering the seller a non-exclusive option contract on the property, as I have no idea whether I'll be able to find an investor buyer to wholesale it to.

1. Do you think that is a good way to go on a deal like this?

2. Do I just email him the option contract and have him sign it and mail it back to me? Can it be faxed? What do I need to know about buying houses long distance to wholesale them?