All Forum Posts by: Scott T.

Now knowing the basic (lease option) numbers range... it's OBVIOUS that if only +/- 20% of these deals CLOSE (since many / most will never 'appraise' for the 'optional' buy price, nor can many tenant buyers bring a 5- 20% check to closing, even if "sentimentally attached!?") that means something like 4/5 are in turn soon LO'd again, and HP owns them! 

Then there's the market cycle and continuum "timing..." which 'insiders' like the founder (former Saloman vice chairman, and co- developer of the same "mortgage backed securities" derivatives that caused much of the "robo- signed, toxic debt" baked into the 2007- 12 cake, now worth around $2 billion with his 80 page LO 'agreement') would likely have been capable of "doing the numbers on?" (Or at least his accountants and attorneys in NYC, etc. certainly could have figured- out, over a 5- 10 year trajectory, with a "max closure rate of 25%, and a low of 10%?!") So this "they only charge 5% a year" (when they know very well that despite NAR false claims, it costs between 15- 35% plus to 'resell' via the NAR / MLS, etc. at RETAIL, over 1- 6 months time...) makes no 'logical' business sense, whatsoever... so that then leaves only the: "wash, rinse and repeat,"OPTION!

NO... these (serial) sheisters clearly knew/ know PRECISELY what they are doing... as does any veteran "slumlord," turned LOer! They just do so, hiding behind a near 'bulletproof' contract, in Temple BAR 'legalese...' and layers of LLC, etc. "shell corps," much like their 'bankster' mob bosses. ;-)

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@Mitchell Gelman BINGO! 

"No home will 'appraise' for more than market value," indeed! (i.e. Even if it were yet in the first to middle stages of an established, "seller's market..." vs. now, when rapidly nearing the END thereof!)

And no company with an 80- 90 page 'agreement' is "looking out, for the client's interests." (Contraire.)

And I'm fairly certain I 'posted' on this thread, previously? (Likely because I mentioned WHO 'founded' this company, and their business contacts, and 'background???') So much for "freedom of speech, BP."  Definitely NOT impressed, ST

P.S. OK, Now I'm looking for a copy of this Temple BAR franchise's dba: US Corp. 'legalesed' "agreement." OR, someone should 'post' it online in several places, owned by various interests... in preparation for filing a "Class Action?" (And maybe a second one for the related 'foreclosures,' from 2008- 12?? Afterall, this 'founder' guy... is a real, "piece of work!" ;-)

@Jeremiah Ashe  Joe Crump in Indianapolis has done hundreds of SubjectTo deals, and knows all the deal structures commonly used, and his "Hierarchy of Deal Structures" is very logical. He has a longstanding YouTube channel, with hundreds of good 'edu' videos. Also Ron LeGrand has his "Gold Club" website with 140ish "forms and agreements" for $60.00 a month, and you can 'download' ALL of those documents! 

I have several forms checklists, but they tell you what docs are required to do specific terms deals... You'll need a Purchase and Sale agreement, Authorization to Release Information (to contact the bank, etc.) to do a title search, and definitely know the local "case law, on the books," so utilize a good RE attorney, who SPECIALIZES in these deals. (ONLY!) What you won't learn (initially) is to have either an LLC(s) in NV and/ or WY for ownership autonomy, then take possession into a "land trust," so the lender(s) are NOT made aware of an obvious, "ownership change!" (Then either get a new insurance policy? Or keep the existing ins. in place??) Also check- out Clint Koons on YouTube for more on LLCs, LTs and ST deals, etc., as I'm certainly not purporting to give you any "legal advise."

@Orlando Paz  The first thing I attempted to DO after "learning the basics" and which 'strategies' I intended to utilize... was attempt to find someone to Joint Venture with, and offer them a 50/50% split. (Afterall, any new person not only doesn't fully understand the process, have the contractuals and the 'confidence,' etc., they also cannot say: "Yes sir, I've done hundreds of these deals... and have great references!" Joe was the first person I noticed (after much "trial and tribulation") that was actually DOING SO (as do others now, but then most want to be "paid THOUSANDS up front," which is laughable!) and I'm sure I caused some 'angst' among those who weren't doing so, because "marketing speak, is cheap..." but then what do people EXPECT from guys spending all (or most) of their time, money and energy on MINIMALLY "educating people?"

Furthermore, they want money, up front... and once 'popular,' no longer have the time to "work deals," or "coach, 1:1." And the prices some of these people charge for so- called "mentoring" isn't remotely, justifiable... and Joe's courses are very reasonably priced, and to the point, but if you're "looking for an EDGE..." they aren't selling it. (That is if thousands of others are already using that angle, then odds are... that it's no longer going to be, very effective!)

Simply amusing: No sooner do you 'comment' online these days, when your inbox(es) are then filled with Google, etc. 'remarking' promotions. It's almost as if the main objective of Google, inc. is "advertising revenue," and terms marketers are selling the next 'angle' to get buyer, seller and/ or investor 'leads...' which generally means "dead leads," or unqualified, "prospects?!" Hereafter is a sample case, in point:

"Don’t have a lot of money for marketing? You don’t need it to get a ton of leads & deals! The answer to the problem is Networking. Not just any networking but a very specific target audience. An audience that will provide leads for you 24/7…365 days a year on auto pilot! Once you get this lead machine in place it will provide leads for you, on auto pilot! It’s probably the number one source of leads and deals that most investors don’t use because they don’t know about it!

Here it is... Did you know that Wholesalers throw out tons of leads just to get one deal! Did you know that many of those leads are prime candidates for Wholesale Lease Options & Sandwich Lease Options as well as Traditional Wholesale deals! Did you know that if you contact a wholesaler and say: “Mr. Wholesaler I know that you throw out a bunch of leads in order to get one deal. If I could turn those dead leads into cash in your pocket would that interest you?” that they actually say YES! That’s as hard as it gets to put a lead machine in place that will transform your real estate business into a non-stop deal machine.

Now I know what you’re thinking…Sounds good, but I need way more information. No problem, all you need to do is check out this short 23 minute video and you’ll have all the answers you need to make an intelligent decision as to whether this is a direction that you should pursue. My students are tearing it up using the Ultimate Automated Lead Machine to bring in more leads than they can handle. You can to so check out my short video you have nothing to lose but 23 minutes and everything to gain!"  

And I suspect REIs are being contacted via CraigsList in an attempt to "JV" mainly, wholesaling deals?" I'm not very familiar with that angle (i.e. having no "controlling interest" seems to be just that, to me?) but see nothing wrong with asking people for leads they aren't converting (i.e. if you pay well, for them) because they only know one or two 'terms' strategies, as aforementioned. And I suspect there's a "JVA" (Joint Venture Agreement) being 'promoted' as well? Or soon will be... now that I (re) posed, the 'idea?'

ATB :-) Scott

@Dennis McNeely  @Pierre Taylor  @Kevin Greene  I hadn't realized "Bodekers" were using email marketing and CL ads to contact Wholesalers, etc. This makes minimal sense to me, as I'd /  I'll be (having VAs!) making lists of REIs, buyer and leasing agents, lenders, private funders, GCs, rehabbers, wholesalers, etc. from BP, Connected Investors, various directories, the yellow and white pages... plus signage to SE searches, PPC ads, etc. and via more sophisticated means to list cash buyers, to leads with more than one loan, if you know what to do with that angle? 

I believe the main problem is nearly EVERYONE (or couple, business partners x2- 3, etc.) is still "doing their own thing," while we are 'competing' with several GOLIATHS! I cannot do much myself, and I am the "visionary / idea guy..." NOT the RE attorney, insurer, phone prospector, lead pre- qualifier, credit vetter or fixer, loan broker, home leaser, RE broker, agent, salesperson," VA, or CS rep, etc. And the end RESULT is what, a 95% "attrition rate," due to all of us trying to "sling rocks" at: the NAR, MLS, banksters, DC, the Crown, Temple BAR, etc.

There's perhaps only one way to take down industry the GIANTS (along with their entrenched, 'system...') and that's with an ORGANIZED and determined "grass roots, effort..." not one person here and there offering owner or seller financing, LOs, or wholesaling, rehabbing, etc. And many of us are often more focused on our: inboxes, voicemails, social media, lead gen, softwares, YouTube trainings, etc., vs. out there "educating the public about how they can "SAVE far more equity, by working with us," for example! (Myself included, to date, I'm ashamed to admit...)

@Joshua Ransom I find it interesting that someone like Ron LeGrand (who has taught over a half million people how to "do terms" deals, and done 3- 5,000 himself, since 1982) is apparently still somehow able to "do deals in his own backyard..." even in Jacksonville, FL, although I suppose that's not as "hot" as Destin, Orlando, or Miami?) Mitch Stephen did hundreds of subject to acquisitions, in and around San Antonio, along with dozen (or more?) others.  Joe Crump has done hundreds in and around Indianapolis... Joe McCall has done several hundred, "virtually..." even from Prague, and whilst "traveling the US, in a motor home." The Frenches have done hundreds mainly in Baltimore... I don't know how many Joe Bodek has done in 22 plus years (i.e. lease options) but as they say: "this ain't rocket science," people! (i.e. So who CARES if they did two dozen? or 24,000?? And BTW, recently I revised my location, to read: "Northern California, because I may be here? There?? Or St. elsewhere, next?!?)

The "hot markets" are NOT cities, metros, regions, nor states, etc. anymore. (If they ever, where?!) They are rather the best neighborhood/s or zip code(s) within an 'emerging' to not yet overpriced and unsustainable area, and there are consequently "winners, and loosers" in probably every major metro... and terms deals (for more than "one trick ponies" vs. say "wholesalers" as Brian Gibbons is fond of saying... who likely has also done hundreds of deals, and just doesn't brag about it...) so who cares? I read, watch and learn from ALL of these guys plus another dozen more, all the time! 

I suspect that since Joe B. is so "old school" (and 70ish...) he isn't out to become the next "tech outsourcing leads machine," and clearly isn't the "seminar guru" type, nor want to be one of these niche or shotgun "marketers." His courses are practical, inexpensive and I bought the lease option program. That said, I had already invested in several others, watched hundreds of videos, downloaded over 10GB of terms related data, and shelled- out what is probably the "blueprint to completely disrupt the industry," IF I ever find an investor, I can trust... who also understands that level of "forward thinking???" Meanwhile, lets TAKE some NAR / MLS marketshare, REIs! Afterall, "the times, they are... a' changin!!" My Best :-) Scott, in Cyberdom...

Damn, I also just thought of the "forum disruption idea..." to Trump BP to Connected Investors. (That's the PROBLEM with being "all IDEAS... and no FUNDING!!!")

@Patrick Philip Pat, I have a "bad habit" of posting, then 'editing' multiple times. (Drives some people 'nuts...' along with my "creative punctuation," and sarcasm.) I thought Shane was unfamiliar with the literally HUNDREDS of (UN "nation state and territory") ups and downs, since many of us have been around (I'm now over fifty...) let alone that the US was reinc. in 1870, 1933 and 1982, for e.g. 2008 was MUCH more severe and overarching than anything prior... since the former US (of A) went into bankruptcy receivership in 1933, after the staged US Civil War that 'bankrupted' us, in 1870. The thing people need to 'get' is the "bigger picture..." and realize that everything is now "a business..." on up to the top of the food chain hierarchy, and these "markets" are now ALL RIGGED. The KEY is not getting "caught with your hand still in the cookie jar" when they slam the lid down again! And their drag nets were cast back out a decade ago, as par... so who knows when they'll be reeled back in... amidst the propagandic media 'pomp,' explaining how and why that supposedly occurred, this time?! (Afterall, next to NONE of this ever occured before 1913... Gee, I wonder WHY, this is!?)

The interesting thing is that it appears they got 'scared' after it nearly IMPLODED the last crime cycle, around. Afterall, the "US" is their BIGGEST game play and defacto 'fiat' currency, since 1973 when the Nixon Admin removed the last vestiges of the "Gold Standard" and they 'pegged' the U$D to big energy and OPEC was formed, etc. I now think of it as one big casino... since that's basically all it IS today. And that's WHY I'm doing (next to no liability or money down) "creative terms," vs. taking out bank loans, as one example, unless it's a fairly QUICK in and out, paper flip... nearing the TOP of the current, or any future "seller's market." ;-) Scott

@Shane H.  A major 'crisis' and/ or a 'recession,' or worse??? Only five, recently. (1973, 1986, 1991, 2000 & 2008, in the US.) I find it amusing that people go off of charts and DC, etc. hedonic (ever more manipulated, since 1982) data and stats... vs. trying to determine what those in power will do next, why, when, as well as who and what they will blame it on, next? Or when their media will be "reading, that script?" (Crypto? Stocks? Bonds? A major War?) Particularly since 2008, in the US we're moreover now in "uncharted waters" under UN subsidiary, Maritime Admiralty 'legalese...' but one thing is obvious, those in power (you've likely never heard of) can order the "printing" of (seemingly) unlimited Xs and Os, plus the approx. 2% of fiat monopoly IOUs in physical circulation (IH$ dollar bills, for e.g.) and shuffle that 'fiat' currency around WORLDWIDE, so the ratcheted leverage just keeps increasing, while the  markets for those currencies and everything else "fluctuates," according to individual currencies and nation states, controlling and competing, marketshare. (And WHEN that mountain of "toxic debt" might ultimately "spiral- out," and the entire edifice IMPLODE, is anyone's guess?) Meanwhile watch what the media says, and the 'herd' does next, and do the opposite... or better yet, endeavor to be "ahead of the learning curve," and ignore the siren's song of the moment. :-)