For years now I have used the CONTROL and ROLL system of assigning contracts - houses, commercial, lots, land, businesses with real estate and mortgage notes.Use the auction method of sales for a very fast assignment - it is a great method because your assignment is for all cash - no contingencies - "as is" with a 30 day settlement.Good luck - Charles

A great method to do that is to constantly test your knowledge by doing something like creating a spreadsheet.Just to answer your question..........

This allowed a very simple solution that I will most likely repeat every 5 years.Darin This is a great method.  

I have also heard that bidding on HUD homes can be a great method. 

Over time its a great method but to build equity you need forced appreciation and leverage.Keep us posted because we all are looking for that one thing that works.

Ester - there are times when lawyers don't have all the answers when it comes to seller financing - if they did - they'd be investors -Sure they can write up a mortgage and note any lawyer or title company can do that -What you need to think of is how can the seller financing help you now and in the future -The best mortgage you can have with a seller is one with no interest - it is called a principal mortgage - all payments go to reduce the debtIt should be fully assumable without qualification - this will help you if you offer the property for sale in the future - built in financingThe interest rate - if you have to go there - should be as low as possible - so that when you sell in the future you can do a "wrap around mortgage" and make interest on money you oweYou should have a first right of refusal in the event mortgagee decides to sell it at a discount - you get first wack at it.You might want to consider a "Stutter Clause" this lets you miss one payment a yearthat mortgage should be a "subordinated mortgage" this lets you refinance and put the owner financing in second position.Put in an early pay off discount - so pay it off early and take a 10% discountU may want to make that owner financing a personal note - not a secured mortgage -- this way you can refinance immediate and walk with some cashYou could secure that mortgage on another property you own or a partners property - this frees up the equity to refinance and walk with cash (to be used to invest in other properties)You could ask for a delay in mortgage payments for a few months - gives you time to flip it without paymentsyou could ask for interest rate at "prime rate" this is what banks borrow atMaybe NO payments for 2 yearsI know I have some more ideas - but can't think of them now (when you hit 74 y/o you sometimes forget all those great method of making money in this business.)They are some ideas - hope they were helpful - call anytime if you need help.Charles

It's a great method that works well when used correctly. 

zillow is a great method of finding quality tenants.

@DB BrooksYes.This is a great method investors use to acquire real estate.Instead of having your people buy the house and sell it to you, have them act as a lender.  

@Shiloh Lundahl Ya that's a great method and I think I will use it down the road but I think at this point I am shying away from the HELOC simply because I do not have enough equity yet.