BiggerPockets

sub3? oh, i'm all open ears here! let me know when you come back.

i thought this was a popular technique. obviously not.

I am all ears too! But, I suspect it is one of those guru made up scamming terms like "Flex Options". ROFL!

EXACTLY! It's nonsense. There are no "secrets" in real estate. "Subject 2" investing means buying "subject TO" the existing financing. What would "subject 3" mean? Buying subject three the existing financing????? I suspect it is a term meant to convey to newbies that there is some "secret" that they can only get by spending a bunch of money on an expensive course or bootcamp.

Mike

Originally posted by MikeOH

EXACTLY! It's nonsense. There are no "secrets" in real estate. "Subject 2" investing means buying "subject TO" the existing financing. What would "subject 3" mean? Buying subject three the existing financing????? I suspect it is a term meant to convey to newbies that there is some "secret" that they can only get by spending a bunch of money on an expensive course or bootcamp.

Mike

in fairness to David, the price he is asking for the video training seems very reasonable compared to other "gurus". he also seems genuine and honest.

yeah these "plugs" are becoming pretty common but be careful, if you call them out too much on it you start getting your posts deleted.

There is no such thing as sub3.
It is just a "coined phrase" describing a particular strategy incorporating buying subject to (sub2) properties.

I am now working a "secret" technique using sub2 that is very creative with my partner Nick and I think we will "dub" it "sub10" simply because it is ingenious and 10 times better than a typical sub2 transaction. :lol: .

Ok, well... Can't say much... as I don't won't my posts deleted either...

I'm the worlds slowest typist and to type and then go correct my post...

(don't always do that, takes me forever)

First I ain't hard to find on the net...

Stephen, thank you.... thank you very much....

The students that I have.... have been with me for years... not just as buying the next course.... I don't have a next course or bottomless marketing funnel...
or extra coaching....

I created what I created after attending a seminar as a guest and they were charging way too much (5 - 20k)to teach folks nothing...

Everything was a come on to sell more...

I set out to build the best real estate training on the net.... from start to finish.... (now, it seems I keep adding to it as I get ideas, without charging more... not a great business model... none the less I'm in a position where I can)



As far as new techniques.... Yes, sub3 is quite different...

Mike, Oh and others.. I was where ya'll were at several years ago... and thought their were No new real estate techniques.....

Wrong...

I was surprised when I found several friends with real estate plays I had never heard of and asked them to help me with something new I was working on...

Took me over a year to work out the details...

and get it right...

A friend of mine coined it Sub3... because it was "better" than sub2 and removed the risk....

For lack of a better name we left it....

And it's stuck...

It's simply a way of buying and selling houses with little risk and avoiding costly entanglements... and all that stuff....

And sub2 deals owner financed carry risks....

Plus, I don't use trusts or any of that stuff any more....

It confused the title companies and nowadays I want the title companies on my side so, that my deals are smooth and seemless...

Also, just last week I created a completely new technique... that I shared with my students that I coined...

The REO Note Flip....

(no, we aren't selling are flipping the notes)

And it too isn't anything you'll will have ever seen....

It removes all the risk of doing the cash deals that are everywhere....

I stumbled onto the idea when I took a student to lunch and he didn't have the cash to take advantage of the deal and I didn't want it in the area it was in... nonetheless there was 35 profit... on a 70k deal with no work needed.... (I don't rehabs, and I've only done a few wholesale flips in my life)

What You have to understand is I'm a student of creating paper... and my business is owning notes and finance and creating them at severe discounts.... and getting them to cash out....

Read the book by Wade Cook, the Real Estate Money Machine... that's the closest thing to what I do.... You can get it for a couple bucks on amazon.... I simply took his strategy and made it better... by twisting it a bit.... to remove the risk of sub2..

Then from there turn it into an automated system... and let your people make the money for you... running your system...

Anyway, I'm damn proud of my Sub3 Web Training it's likely one of the best bangs for the bucks for Real Estate training and is way under priced compared to what others sell their stuff
for.

It literally contains almost 13 years
of my real estate experience in one place, it's way cool.

:)

Ok, well... Can't say much... as I don't won't my posts deleted either...

RIDICULOUS! You can say whatever you like provided you follow the forum rules. In addition, you wrote a VERY LONG post and it said absolutely nothing.

Mike, Oh and others.. I was where ya'll were at several years ago... and thought their were No new real estate techniques.....

There are no "secrets" in real estate investing. It's all been done before. If you are claiming to have a new technique, then provide some details. Otherwise, you're just going to look like a typical "guru" who plays the silly "I've got a secret" game.

Read the book by Wade Cook, the Real Estate Money Machine... that's the closest thing to what I do.... You can get it for a couple bucks on amazon.... I simply took his strategy and made it better... by twisting it a bit.... to remove the risk of sub2..

I don't think I'd use Wade Cook as an example of a secret you have developed. Here's the real "secret". He's been personally bankrupt. His company is bankrupt. He is currently serving 88 months in prison!

Mike

There are no secrets in real estate investing, now in the area of information marketing, that is an entirely different matter. ;)

Nope! No secrets there either. Let me take a shot at the business model for the "gurus".

Set up a webpage with a white background. Imply that you have the "SECRET" to success (that only a few insiders know). Imply that the secret will allow the student to get rich quick with almost no work, money, or credit. Offer a free report on the website that is designed to get the "student" to buy an entry level product, to be followed by upselling the student to products that are always more expensive. Provide several testimonials of students that made $10,000 the first month using the "guru's" secret system. Throw in a sense of urgency by making it a limited time offer and then throw in a bunch of bonuses (worth thousands of dollars) if the "student" will provide their credit card RIGHT NOW!

Once the student provides their address and credit card, bombard them with almost daily junk mail (and e-mail) in an effort to catch them in a weak moment. Get them to sign up for a low-cost or free seminar. At that seminar, ask ridiculous questions like "Would it be OK if I helped you become RICH?". Plant the idea of taking action by asking a question and then rewarding the first one to answer with a prize or cash. Then, get the student to RUN to the back to swipe his credit card for the entry level seminar, bootcamp, course, mentoring, coaching.

Once the student is at the entry level event, imply that the TOP SECRET can only be revealed at the higher level of committment, usually called the Gold Level, Platinum Level, Founder's Group or some other level meant to imply importance. Of course, membership in this level costs a LOT of money (often $10K or more).

Finally, once the "student" is at the Platinum level, offer them a lifetime membership in the "guru's" Inner Circle or the "guru's" University. At this point, the guru has generally gotten all the "student's" savings and the student has run their credit cards up to their limits.

The interesting thing is that the student NEVER GETS THE "SECRET"!

LOL!

How'd I do? Is that the guru business plan?

Mike

P.S. I forgot to mention the infomercials. All infomercials are filmed at an oceanfront mansion with the guru and several supermodels sitting on a yacht, sipping tall drinks (with umbrella) seemingly enjoying the good life as the money falls from the sky!

The infomercial must be filmed quickly, because the guru can only afford to rent it for ONE DAY.

Originally posted by MikeOH

How'd I do? Is that the guru business plan?

Well, your hat and membership card we probably safe after the previous slip, but now I'm not so sure. The members will probably want to vote on it now. ROFL!