Mount Sinai, NY · Member since 2017 · 6 posts · 0 votes
Hi, I was recently watching videos on flipping houses when I came across an idea I hadn't seen before and I was confused on how it worked. Instead of getting a private lender to step in this guy said he makes contracts for homes and simply takes over the sellers existing mortgage. He also says that he puts in clauses so they cannot come after him. How exactly does this work, and is it a good idea? Thanks in advance! heres the link to the video
I stopped watching that video 3 seconds in when a white guy in a suit took a bow and started talking about his "real estate dojo" with his spamtastic car in the background.
Just stop watching videos like this. Stop. They aren't in the real estate investing business, they are in the business of selling guru seminar junk. Or, in this case, dojo junk.
Biggerpockets.com is free and has all the same junk, as well as a lot of content that is NOT junk.