First of all I would like to thank everyone for calling me from my 1st runner up video. I would like to just say that I am truly sorry that I have not posted the way I should have and shared my success. I was really surprised that people actually got the number off the bandit sign and called to see if I was really real or a paid actor, well I am real and was completely broke, no job,and had just filed bankruptcy. I owe all my success to the Success acadamy and onsite training. I still use the hotline and my course work, still to this day. Things didn't go real well for me the first six months, but in the last seven months I have received over $60,000.00 in down payments. I own 1.4 million dollars worth of real estate, with a $2000.00 a month positive cash flow. I buy all my homes today "Subject to existing loan", that way I use their credit. I also get the deed to every home. I get a "Power of attorney" letter, that way I can deal with the mortgage company, and am able to close on the loan when I sell the house. I get a letter done for the escrow so it is all sent to me. I have my C.Y.A. letter that is a real important part of my packet. It states in my letter that I am not resposible for any payments or late payments and that I have no intent to put the loan in my name, and that I will not be held responsible for anything. This is just a short version of my "subject to existing loan" packet. It would really take a while to go into great detail. After I purchase the home, I do owner financing with a minimum down payment of $5000.00 and my homes have a $150.00 -$250.00 positive cash flow per month. Will post more information later. Thanks for all the votes!
Terry Vaughan
Subject to existing loans
Posted on: Mon, 01/25/2010 - 23:28
Subject to existing loans
__________________
- by randy428
- Login to post comments
Just pick uo two more homes last week. Both of them are gone. Made $30.000 on one and $32.000 onthe other one. I got $5.000 down on both of them, One cash flowes for $250 A month and the other one for $275.
www.adeptpropertiesllc.com
Just got home I just closed another deal. $5.000 down and $300.00 a month postive cash flow.
www.adeptpropertiesllc.com
Just pick up two more homes subject to existing loan, I have got 3 more that I should have by the 5 March. This is really amazing, It really works if you work it.
Randy
www.adeptpropertiesllc.com
what forms do you use when u do the subject to deals ?
Hi Randy,
Congratulations on your success.
What paperwork do you use for your Subject To transactions?
Kurt A. Conway, MSHA, President
The Conway Financial Group, LLC
Real Estate Investor
kurt@tcfghomes.com