Subject To Manual
Hello,
I think I have basic knowledge in regards to subject to:
1.Purchase property from seller using land contract.
2.Lease-option property to tenant-buyer for two years.
3. Earn money from the option consideration, monthly cash flows, and once the tenant-buyer exercises their option to buy.
Now here is my question?
Does John Locke "subject to" manual contain all the contracts and vital information I need to successfully conduct subject to transactions?
From reading about the course, it seems that the course covered a lot regarding negotiation instead of "subject to" transactions.
the course and the manual does have the forms but you will need to make them state specific....
John Locke does not teach Lease Options. I'm not sure if you read his article, but this is the link.
http://www.thecreativeinvestor.com/Article146.html
http://www.thecreativeinvestor.com/Article266.html
I'm sorry, let me be a little more specific.
1.purchasing on a land contract.
No....You are getting the deed. You go in, and for what ever reason the seller is motivated, they deed you their house. You do not, and I repeat, do not purchase under a land contract. John does not teach that.
2.Sell on lease option..
NO.....you sell using a land contract...with the full amount due in 2 years.
3.Earn money from the option consideration, monthly cash flows, and once the tenant-buyer exercises their option to buy.
NO....you earn money from a down payment, monthly cash flow, and the back end profit which comes from the seller cashing you out.
With Cash's system, he teachs you how to get the deed, how to SELL the house.....and from that, how to profit. Buying using a land contract is too "risky" for you have no control. The seller retains the deed and if anything happens to them, it affects the house.
John does not teach Lease/Options and does not do them. In his manual/course, everything is provided for you to go out and do a deal. As I stated earlier, unless you are in Nevada, you will need to make the forms provided state specific.
[ Edited by nebulousd on Date 01/18/2004 ]