All Forum Posts by: Mike Matthews

Nope I do not touch California for anything. Not even vacations

I just updated this chapter in my book. Please give me in put or let me know what i may be missing. Thanks

3k - 6 K depending on credit and rental history.

Sorry, I am a very aggressive person. I see everything as a battle. I forgot others do not share my personality.

Sorry.

Here is how I do this. It has been challenged in court and we win every time. Over 300 Single family homes are under this same contract right now. This is 100% legal

I have a very aggressive Lease Contract that put all the repairs maintenance etc on the tenant. Even the Home Owners Association Dues.

My security deposit is Large about 3-6 K.

43. ADDITIONAL PROVISIONS: Tennant may purchase XXXXX Kenswxxx Meadows Humble, TX 77338 any time during this lease for $_125,000.00 to be paid in cash on the closing date. 06/30/09 Provided the tenant was not in violation of the lease agreement stated above. Mystic Realty will not pay any of the closing costs involved with the sale of the home.



Tennant agrees to pay Mystic Realty the sum of $ 4,000.00 Security Deposit, which will be applied to purchase price of the Property if closing occurs. $3,000.00 of $4,000.00 has been received. Of each monthly rent payment of $1125.00, the sum of $1,125.00 shall be considered a non refundable monthly lease payment..


In the event that TENNANT is in possession of the property described above under a valid lease agreement at the time of purchase $ 100.00 of each monthly rent payment received on or before the 1st of the month under said lease will be applied as additional consideration to reduce the purchase price if, and only if, tenant obtains financing to purchase this home. No payments received after the 1st of the month will be applied. All covenants of said lease agreement must have been faithfully performed in order for this to be valid and enforceable, including, but not limited to, the repairs, maintenance and upkeep of said property. In the event that the TENNAT substantially defaults on any payments or other obligations required under said lease, the purchase will be automatically void and any monies paid there for rent or deposit will be retained by Mystic Realty as liquidated damages and not as a penalty. A "substantial default" includes, but is not limited to, failure to make any lease payment by the 4th day of any month for which rent is due.


Also Mystic Realty agrees to reimburse the total cost of ACADEMY CREDIT for your credit repair at the time of xxxxxx Kxxxx Meadows purchase if you become active within the first 2 months of this lease agreement. Please be sure to tell them I referred you so they will inform me the day that you joined their services. If you do not I will have no record that you joined their services and I can not pay you back. Client # xxxxx [WEBSITE REMOVED]. [NUMBER REMOVED]

$3000.00 of $4,000.00 Security Deposit is received. Payments will be a Minimum of $1,292.00 July-December 2008. Commencing Jan, 2009 payments will drop to $1,125.00

I have a 125 lot park for sale at a true 10cap with actual s. The lot prices are 35 under what they should be. Let me know. Send me an e-mail. :mrgreen:

Simple, he purchase deadline will not be in 1 or 2 years like a single family home. It will last for several years. If they make all the payments on time after X amount of months you will give them the home.

I use the same contracts for my Differed Purchase homes as I do my Mobile Homes. Well I take that back, the mobile home contract does not make them pay a Home Owners Association

Let me know and I'll help you, I am pretty good at the Mobile Homes and Subject to for single family homes..

Mass Mailings and in the summer months I put out about 15,000 - 20,000 door hangers every month.

I hire overseas people to handwritten my letters for me as well. I pay out $1.25 an hour to have the letters hand written.

I go you beat and I do this kind of deal all the time.

12 K Sellers Incentive to take over her house, Built 2006 1680 Sq Ft. Payments are 1225 PITI Due to escrow shortage a little high. 6.5 % fixed interest rate. She is paying way to much for insurance. I called today and have a better policy for 450 a year less. I will use my power of attorney and pocket the refund from the old insurance company.

I sold this home to a member of my network for $6,000.00. She will rent out.

So $ 18,250 in Cashiers check I made yesterday.

I had this home sold before I ever bought it. I no longer lease option to tenants. You can make more cash faster by selling to Investors. And they take better care of the homes.

If you want to keep the house for tax purposes, sell a partnership agreement with an investor. You make the mortgage payments, Taxes Insurance Etc and they pay not one cent over the PITI, You make no profit monthly but you keep all the tax breaks. 5 Year balloon to the investor.

Also if they miss any payments, they do not lose 1 home but all homes that are under your partnership.

That will teach you a new way of thinking, Try that my friend, :mrgreen:

YESTERDAY was fantastic. I also got an 90 day option on a $1,650,000 trailer park that is worth 300,000 K more at a 10 cap then the selling price, I will sell and pocket 300K. Which I need for these huge commericial down payments or hopefully find another investor to partner with on this park.

10 times better LOL We have over 300 Single family homes purchases with Subject 2. I personally have owned over 30 Subject 2 homes. I want to see better. Last night I bought a home Sub 2 and the lady wrote me a 12 K check to take it off her hands. You show me better. :mrgreen: