All Forum Posts by: Dustin Gott

If a bank is owed 200K on a mortgage that goes to the sherriffs sale but the bank only bids 150K and then the homeowners sell the property during the redemption period for 190K does the bank get 150K or the full 190k? Secondly in the above example if i went to the courthouse and bid 151K could I just get the homeowner to sign me over the deed? Would the bank have any say over what happens next?

Does anybody have their own insurance? If so any companies that you would recommend? Thanks!

I do have quickbooks but havent set it up yet. When you set up quickbooks what industry do you choose? I have rentals but am also doing rehabs? Thanks for the help.

Does anyone have a sample that they would be willing to share? There are many online but I would like to see one that is geared towards a real estate investor. Thanks!

Well said Bryan in less words!

Another good example that came to mind just now is Ed Garcia and Terry Vaughn. They run a seminar focusing on getting banks money. They help you prepare the package to present to the banks and scoff as you will i have seen it work. Someone only getting 50K on their own but being able to borrow 75K after working with them is well worth the money for the seminar (not 2K but a few hundred i believe). They both also have the quality I described above which is the desire to teach and joy of someone succeeding not just to make money for themselves. Ed gives out his own # and really will answer the smallest questions and help in any way years after taking his seminar.

Most people are very quick to dismiss spending that much as an absurd amount to pay for something you can learn elsewhere but there are many niche areas (finance, notes, restructuring, even negotiation techniques) with one little tidbit that can easily make you an extra $2000 in a deal let alone the $200000 you make off that one idea over a lifetime. Im usually against it but to write it off completely in every situation seems either arrogant or ignorant. Seems to me like almost every field a guru needs to build up satisfied customers that spread their merits. I will not spend that much on someone Ive never heard of but would consider it further if rich, charles, and others i trust recommend it as something that worked for them.

The only course I have ever paid more than a couple hundred dollars for was John Behles seminar about notes. It was in depth and well worth it. I think it has to include information that is not easily found elsewhere. Much of the information he gave could not be found googling or at the local library. I also didnt get the impression that he did the seminar to make money (which Im sure he did) but rather to enjoy teaching new students how to do what he has done for years. I dont think most gurus are in the business for that reason though so I would shy away from most costing that much.

Does anyone have a link or title so I can look up Rich's original thread that this one is a spinoff of? Also Rich mentioned he was going to follow up on this one. Is there a link to that one? Great stuff!

Sorry not to be more clear. We own the property free and clear. There is no bank to worry about on our end. Not sure how to go about dealing with it with a bank involved.