All Forum Posts by: Randall Mixon

Do an internet search for John $Cash$ Locke. He is the premier sub2 teacher/lecturer in this country. William Tingle is also very popular. And, as always, when it comes to creative real estate, attorney Bill Bronchick is a good place to get accurate info.

Dude, that is EXACTLY a Subject-To transaction. There are numerous Courses available on the Topic. Granted, this discussion board has no sub2 forum, but if you go to some of the other discussion boards, you will see a lot of info on it. And I never get a Quitclaim. I always get a Warranty Deed and record it. Just because you have a LC, I don't see where you have more incentive to pay. Either you are going to pay or not.

Why not just get the Deed? What if the Seller gets a judgment against him in the meantime? Or child support lien? I have students in your neck of the woods, so yes, there are people grabbing the Deed in your state. We do a "kitchen table closing" and have no need for an escrow. To date, not a single lender has called the Note due (though a few have threatened with a "form letter").

LC is short for Land Contract. When using a Land Contract, you are buying without paying off the underlying loan(s), so yes, you are buying subject-to the mortgage(s), but traditionally, sub2 means to get the Deed.

It's not really a sub2 the way you described it--it'sa LC with the Seller. The DOSC is a moot issue; the bank just wants to avoid having a nonperforming asset.

Cool! I'll just edit and add the other one.

Can we post more than one, if it's a different product? I'm asking, because I posted a free Course to anyone who wants it (I wrote it myself), and it seems to have been deleted. My other Post is still up.

If you have a beat-up car, make the best of it by getting stickers all over the windows and doors (at a sign shop) with your phone number and stuff like We Buy Houses.

I agree with what has been said here. It depends on your area, but business casual is as far as you want to go. If you wear a tie, you are going to be looked at with instant suspicion and viewed as a salesperson first and foremost. It's funny that you mention this in your Post, because I really do wear faded/torn jeans sometimes! And I often wear shorts. A beat-up truck is a good real estate vehicle (I know millionaire rehabbers who drive them). Second to that would be a family vehicle like an SUV or wagon (I drive a 2003 Ford Focus wagon as my real estate car). Third would be just about anything else, although you shouldn't pull up in some luxury or sports car. Basically, the right Seller couldn't care any less.

I agree with what has been said here. It depends on your area, but business casual is as far as you want to go. If you wear a tie, you are going to be looked at with instant suspicion and viewed as a salesperson first and foremost. It's funny that you mention this in your Post, because I really do wear faded/torn jeans sometimes! And I often wear shorts. A beat-up truck is a good real estate vehicle (I know millionaire rehabbers who drive them). Second to that would be a family vehicle like an SUV or wagon (I drive a 2003 Ford Focus wagon as my real estate car). Third would be just about anything else, although you shouldn't pull up in some luxury or sports car. Basically, the right Seller couldn't care any less.