All Forum Posts by: Matt Thompson

So I am pretty new to investing but I have been researching this. Check your state laws but you could do a land contract/contract for deed where the deed doesn’t transfer until the final payment or they could quit claim the deed to you. As far as the due on sale clause. I am in finance(day job)and I dont see this as much of an issue. Lenders lose money every time they repo/foreclose. They have to hold money in reserves for non-performing notes that they can not lend out. it decimates their bottom line so unless they have to,they won’t. Again I am new to this so don’t take it as gospel but just my two cents.

Ask opened ended questions about why they are selling to find out how motivated they are. Look up wholesale live call on YouTube. There are a few videos that may help.

I am a newbie and stumbled my way into a good deal but it is a little over my head. I am in negotiations right now to purchase 5-7 properties on terms. My question is how do I structure this. Defer closing til the end of the note? Get my name on the deeds and put him as lien holder?  Would that violate the more than 3 owner financing rule without a mortgage lenders license even though it is only one note? I need some help. Just to clarify when I say newbie I mean I just finished rich dad poor dad and started learning about real estate a few weeks ago. I am as green as could be. I took action..now what?