Land Trust Assumable Loan?

I don't mean to bump an old post, but I've been compling a list of "Must Reads" according to the BP Nation here.Here is that list:•All Real Estate is Local – David Lereah•Building Wealth One House at a Time – John Schaub•Crush It – Gary Vaynerchuk•Delivering Happiness – Tony Hsieh•Emerging Real Estate Markets – David Lindahl•FLIP: How to find, fix and sell houses for profit – Rick Villani•Investing in Real Estate – Gary W.

I really just can't find a local hml who willing to do anything less than 150k and all of the national hml are just a rip off.

Doing so will dramatically reduce your chances of getting taken by crooks.This is just one of many reasons why BP Nation is a good team member for you to have, you can run investment scenarios by the community and get almost instant feedback from others, advice on things to look into or look out for that perhaps you missed.

What you will need to do is ask your seller to put the property into a LAND TRUST and list you as the beneficiary of the trust.

LLC or trust transfer.

Record your interest as a deed of trust or mortgage on the property.

Trust is a wonderful thing, but has no place in a real estate transaction.Btw, if it was the seller who suggested skipping the title search or it was the seller who told you the process would take "a couple weeks," then it's pretty clear that this seller either doesn't know what he's talking about or he's trying to scam you.

Jack - Yes is can be done and you'll find more success using smaller local banks than you will with national banks.

Reading and BP nation are great tools, but face-to-face learning is much better.Good luck and let us know from time to ime how you are doing.