All Forum Posts by: Brian Gibbons

You want to get on title.

Sub2 is strongest. Then Land Contract.

Sub2 and note is what I would do.

Download Agreement of Sale - Realtor DE 

http://www.delawarerealtor.com/images/AGREEMENT_OF...

@Rumen Mladenov

@Paul Springer

Hi Paul,

Florida is a Land Trust state, and sub2 and land trusts go hand in hand.

Re the loan being called, it is rarely called if the loan is paid on time and the insurance is in force.

Having an attorney in FL is really important in lease options, sub2 and wrap purchases.

Thanks @Justin Howe

Scott 

If you are in MN, I would first:

1. get a lawyer for terms deals which includes contract for deed, lease with option, lease purchase, sandwich lease options, sub2 (subject to existing financing), etc.

2. Study the property code in MN

https://www.revisor.mn.gov/statutes/?view=part&hea...

That is a good start.

@Scott Mccomb

@Luke Grogan

doing a joint venture with a doctor, 

cash partner or credit partner, 

form an LLC,

use a buyout agreement in the LLC articles of incorporation

Or us a TIC with the seller

@Bill Gulley is awesome with TICs

Thanks @Steve Vaughan  The great expert Washington state real estate investing 

@Brandon Velikaneye

I would lease my house out with the right of first refusal, this is a simple right to buy the house if the house if offered for sale, usually an addendum to the lease

See a title co. for ROFR

@Brandon Turner  wrote an article about "how to hack your housing and get paid to live for free "

Awesome stuff!

@Benjamin Cowles

an option to purchase with a note and mortgage or dot is a way.

Sell the option

Make it assignable one time

Attach a sale and purchase agreement to be followed with contingencies if any

You don't need to create a note today.

@Andrew Graziano

always show cash or terms offers to sellers

80 percent fmv cash

90 to 95 percent fmv land contract or note + mortgage or dot

"wholesalers cash only investing" versus "cash or terms investing"

Wholesalers tend to look for "landlord CD areas" with properties that need a ton of work.  

If it doesn't fit "65% of ARV minus repairs minus wholesalers fee it's NEXT on that lead.

 The best "terms deals" are beautiful houses in AB areas perhaps have no equity or a little equity and you need to be a transaction engineer for those deals.

 Being able to market for buyers for beautiful homes on "lease to own homes" is a different story compared with Wholesaling.  Buyers of Lease to Own have some kind of issue with their "debt to income" or FICO score, if you're good at getting that FICO score issue better, and give the buyers time to pay down some debt, you can sell the idea of the buyer putting 3 to 5% down in a lease to own arrangement.  

More agents should get tenant buyer and look for expired listings, or canceled listings, or long days on the market listings, and put together a good win-win agreement between the seller and the buyer.

Every real estate investor should understand how to wholesale and also how to do terms deals.

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