Does Anyone Have Any Experience With Real Estate Riches Co. In Phila?
I am trying find a way to learn the business. This company offers a mentoring program. Can anyone shed any light on this company for me?
[ Edited by jpf911 on Date 02/01/2008 ]
Thank you for the info
I know that in Reading, Pa they have wiped out the market of reasonable deals and made a bad name for themselves in the process. They guarantee that if you write 20 offers and do not get a deal that they will give you one.
However, they have now been trying to weasel out of that. I know someone who has worked with many of their students as a buyers agent and has now decided not to anymore. Too much grief and they set them up for unrealistic expectations.
Keep your Day job til you can afford not to! It will allow you to obtain new loans at favorable rates if employed with good credit.
A Lease with Option to Purchase is a valid tool to use. However, you need to get educated on the Pros & Cons.
How will you get out of it? Sell? For what price? Can you give any terms to new buyer?
Refinance? How is your credit and ability to qualify for a new loan?
Why are you Lease Optioning? Will you be in a position to perform when your time is up? Why do you think so? Can you get the owner to extend the option period? Maybe an additional Option deposit or a small raise in the Option Price??
GET Educated on Lease Options! Many books on this, Try your local Library if short on $$.
thanks pmatheson1 for answering my post.
i totally, have no idea of quitting my day job at this time ,i was just asking if i should not even get into real estate investing. i do not want to do anything until the time is right and i have enough knowledge to do so. i have been reading some e books from Claude diamond and reading some of the posts from the loking, and numerous of others on this forum so far seems to a ton of information and knowledge here, and i will continue to read posts from everyone here. again thanks your advice. good luck to you!![ Edited by buzzer47 on Date 07/06/2007 ]
Bronchick has good Agreements. What state is this in?
[addsig]
I am not a lawyer, so of course you should get your lawyers opinion. However, I think the sworn affidavit is a must. Without it a judges has no reason to hear the testimony of the other landlord, but the sworn affidavit might prompt him to allow his testimony. I would include with the affidavit an address history and a document stating that the landlord owned that house at the time (so the judge knows he is being presented with cold hard facts)