I want to thank Brian Gibbons taking the time to walk me through the different options I have with a prospective seller.
Not only did I gain a better understanding of executing a sub 2 and LO, Brian armed me with the concept of JV with the seller. The house is in a hot market 60 miles north of NYC with a lot of "granny houses." Deal structure would look like this:
1. Buy on a Seller Financed Mortgage
2. Repair the house with private money (no serious repairs only updating)
3. List and Sell
4. pay the private lender
4. Earn a JV Fee of $10K or so
5. Pay the Seller's note off
I am excited to present this as an option to the seller as he has minimal equity and I don’t want to waste the lead.
He's a great help isn't he? I've had a phone conversation with him previously some time ago. I can't even remember if we were talking a deal; I think it was a problem I had that I was really unsure of how to handle. Regardless, I was very relieved to have had a conversation with such an experienced and caring person. Thank you from me as well!
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Glenn Elliott I personally do not know @Brian Gibbons but I know he's an accomplished investor and coach who also puts out a lot of good stuff. I understand your disappointment with your low "rate of return" but I'd recommend giving it more time just like any other business. I too had in the past paid a lot of money for home study courses and to a lot of "guru's" as well so I feel your concern.
Most of the times though, it was my fault in not being ready to commit adequate time to the business. To be honest, I REI is not easy at all, especially on the creative side (because most sellers are scared as a result of scams and/or brainwashing by attorneys, CPA's, realtors and even churches! LOL)
If you follow his processes and training to the letter, you'll definitely have some success. Things changed for me when I began to focus on the things that made me money such as marketing, sales and closing deals; I'd recommend doing so as well and doing them consistently day-in day-out. I know for sure that there's a lot of BS gurus out there but I'm 100% sure @Brian Gibbons is not one of them. Also if you have any concerns, take it up with his office.
To your success,
Dayo F Osibamowo
@Brian Gibbons is wonderful! He's so ready and willing to help or just lend an ear and provide feedback. Thanks for the thread giving us the opportunity to say so!
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