All Forum Posts by: Mike Mitchell

You're right all cash but my title company still uses scribes to prepare the docs. that takes a long time! I think I'll look into my own doc. preparation. I bet you file things yourself as you merrily leave the closing :D . When those closers see how much mula we're really making in interest over time plus our markup they might think we won't mind the extra dollars but I do.

Thanks for the info. guys. Hey All Cash, I'll bet you can whip out those documents in less than 3 weeks can't you? :lol: I can think of other things to spend $500.00 on besides double insurance.

I was told yesterday by my trusty title company that they will no longer close on properties that do not have title insurance. I bought a property two weeks ago and bought a policy. This week I sold the property and will have to buy yet another one. Can title companies dictate this way? I always buy a policy when I'm buying a property, but when I'm selling and holding the note, many of my buyers don't know about title insurance and don't care for it after I explain it. Does anyone know what our legal rights are concerning this in Texas? My closer's explanation was that the title company's underwriters are insisting upon this. If she's telling me the truth it will have statewide if not nationwide ramifications.

Hi Marvin the student,
What are you a student of? I hope it's real estate. There are lots of books out there (referenced in What's the most inspiring book you've read). Do a lot of reading. Think through various ways to structure your deals. Read everything on this site. Scan newspaper ads and pick the ones you'll call at first light. If they're a motivated seller they don't need to be sleeping either :lol: . Don't give up that job until you know what you're doing in real estate. Best of luck

Vik,
In our area only realtors and appraisers have access to MLS. A realtor friend of mine gave me his access code so I can now look at the coveted and hallowed information for myself. Without the comps it's very tough. Do you know any realtors? You might suggest that if they'll give you the properties that they cannot list because of their poor condition etc. , you will rehab them and in turn list the property with them. Some sort of a deal might be a win-win. :D

Rejoice,
good to hear from you. Thanks

Mini,
Thanks for the help!

Mini,
One thing I didn't understand about your technique. You said "if I'm going to be paid at closing I charge $500 assignment fee" Are you talking money for the property or money for the assignment or in addition to the assignment? Also are you doing any of these as double closings? It sounded like you use a lot a "subject to" language in your offers that would lead to assignments.

Joshua,
Thanks x 10 to the 6th power. This site has so much to offer. The things I've learned here are making me money :whistle: . Thanks again for all that you do for us and congratulations. As for popups :protest:

Thanks rejoice! How is investing in Australia? Do you have similar opportunities to what we're doing in the U.S.?