All Forum Posts by: Jean Norton

I think you're fine either way. I've used a property manager and they post a notice on the door claiming there is a new owner of the property and invite them to call and discuss options. You'll know pretty fast whether you want to keep them on as tenants.

Hi Steven - The most successful real estate networking group I know of is the one where there are no sales, no promotions, just introductions and round-table discussions on what people are doing, what challenges they have and some story telling.

We were down to 3 people that just showed up every week. It was when we started using meetup.com that the group started growing - and now it's huge - and we still don't sell or promote, just introductions, questions and answers, and story telling.

Good luck!

I was on the 2nd ever bus tour with Armando Montelongo in June of 2009. It was very expensive and I can tell you that made me even more motivated to get my money back, which I did.

Five years later, I can assure you I am not rich like the sales guys lead you to believe. There was nobody to "hold my hand", no insider lenders, no direct inner circle.

I since realized that I was in the minority when it came to actually doing deals and making money after attending a bus tour. Not many really make it happen. It takes more than a 3 day weekend. It takes an entrepreneurial mindset, dedication and determination, creative thinking, a thirst for knowledge that never ends.

Start with your local networking group. I learned more there by listening to what others were doing, how they handled challenges and it challenged my creative thinking on different real estate strategies. There is no ONE WAY that is right for everyone.

Since 2009, they have implemented a more expensive upgrade that they sell to you at the bus tour, so it never really ends.

I just wrote a blog post in the members blogs: http://www.biggerpockets.com/blogs/1389/blog_posts/37835-do-you-need-asset-protection-if-you-dont-have-assets

Bottom line, "It depends..."

You aren't alone. I've talked to hundreds of people that just couldn't make it work; either what you were taught didn't work for you, you felt you were left to fend for yourself, you talk to people that tell you "it doesn't work that way", and all you can do is keep writing those monthly checks to pay off that dang credit card.

Read more....

Final FREE Support call for the Summer is TODAY at 4PM Central time. Please join me as I reminisce on the past 3 years of calls, answer questions, and a SPECIAL announcement that will solve many of your problems with real estate investing. If you're not registered, please do so at http://jeannorton.com/jeanscalls #realestate

Direct sources please.

A lot of people will put the property in a trust - so you would name it "The Sellers Family Trust". Later you change the beneficiary and that information is private, so it won't raise a red flag, but please consult an attorney on these transaction as the legality of these are controversial.

If you are in a position, and the deal works, you can pay the arrears and take over the property with what's called "subject-to", which means keeping the existing loan in place. There is a lot of debate on how whether that is really legal, but many banks prefer to be paid than not. You will need an attorney/title company that understands this concept, and you must offer full disclosure to the owner that you are taking title to his property, but the mortgage is still in his name. Get some help with this one.

I've bought a few through Hubzu. You just have to be patient.