All Forum Posts by: Michael Lewin

Hi Mike,
You're right about the niche:
You and/or the seller market the property to an end buyer with min. 500 Fico, but has min. 1 yr employment. They are happy to have a home opportunity.
The seller creates the note for 9.9% 30 yrs which is sold at closing and is permanently readjusted to between 5-8.5% depending on end buyer's credit.
The invoice to the seller / assignment to the end-buyer is where your flip profit comes from at closing. (It is this part that I am uncertain about, since I know JA's system structure has at least somewhat recently changed.... But I can see how someone could construe such an invoice to equate to acting as a realtor.. if that is still the process).

Regards

My first Post:

I've read the other posts here and in other forums about JA which were mixed.

Heard of investors getting in hot water with the attorney general and sued through this IP method. His system has changed form. Does anyone know if the contracts changed with this new method?

The concept seems (at least on the surface) like it would work quite well in this market.
In it's new form, he has three levels (Free, Gold, Platinum)
New Form:
It is the Platinum level where an investor can flip.
IP = Buy at discount, Sell at appraised (to Buyer with down to 500Fico), Assign contract, Seller creates Note... Sells note at 10-13% discount to JA's note purchaser (will not purchase in CA and NY). ((This is what I'm note sure about)>> The investor presents an invoice to the Seller which is paid through escrow.
I don't know if that last part is still the case with the new method, but from reading other forms, it was this act that caused the attorney general to cry foul (don't know what state or if there were other circumstances).

Has anyone signed up for the Platinum? Any transactions? Feelings on the system?
Interested in any replies/comments

As you may now know, W. is having trouble... losse$ and lay offs.