The best way and most legal way to do it is to sell it to an Investor at the same price your getting it but make a contract with Investor for the difference outside of escrow.
Example: You get Short Sale approved at $50k but you have an investor that is willing to pay $75k you will sell to investor for $50k and just collect the difference from Investor as a referral.
@pablocastillo I'm wondering where can we find an investor to buy for $75k what you bought for $50K without any money down. You must have seller and buyer aligned and waiting for you and for the particular property you are flipping which seems to be quite improbable. Too easy to be true? Maybe it is. I'm also wondering on all these gurus selling "how to make money" techniques instead of apply the technique they preach on! Hum...
1- If you read the papers and watch tv, you are advised, as a seller, not to sign your deed over. Who advises that? AG offices mostly, made up of lawyers. Who solicits 4closre biz? Lawyers. Hmmm
2- If you have the deed, and record it, you have violated the Due on Sale Clause, which means the bank calls the note in, period.
3- If you have the deed and do not record it, the signed deed is worthless, because the owner can sign another deed, and another, until one is recorded. That one counts
This so called "self made millionaires" make most of their fortune by selling this "obsolete techniques" videos on seminars around the country...but don't get me wrong there is money to be made in Real Estate, if you have the money to invest.
First of all, no home owner in his right mind will deed his/her property to you (have you watched the news lately?)
Second of all, Banks are not stupid. They are not going to short sale you the property for less than the current market value. Have you heard of Appraisals and BPO's?
REO (Speedwagon) - negotiate with the bank, get a list from a "Realtor" who deals with REO's - and after a while, Banks will be calling YOU with notes - Shortsales are ok, but REO's is like Burger King holding onto Cement - Banks are not Home Holding Tanks. They wanna get the most for their money, BUT HEY - I tell them "ok, good luck" and usually get an offer :) (PLUS - you dont need to deal with distraught people, they are already somewhere else being distraught)
Good luck getting a lender to let you take the property at 40-50cents on the dollar. like most scams, sounds great in theory but reality is another thing
Wow this explains alot!!!..i almost got suckered in to buying Dwan Bent Twyford's millionaire mindset collection...but after research and your informative vid..i thinki know all i need to know this is horrible!
Crap, I am definately one of the guys who already paid for the seminar. I spent almost $2000. on about 8 hours of seminars. Wish I had seen these videos first.
Congrats on your second chin!!
TheRicePatty69 2 months ago
This is called a Double Escrow, Its illegal i California, Your basically defrauding the bank.
pablocastillo 1 year ago
The best way and most legal way to do it is to sell it to an Investor at the same price your getting it but make a contract with Investor for the difference outside of escrow.
Example: You get Short Sale approved at $50k but you have an investor that is willing to pay $75k you will sell to investor for $50k and just collect the difference from Investor as a referral.
You just made $25k.
pablocastillo 1 year ago
@pablocastillo I'm wondering where can we find an investor to buy for $75k what you bought for $50K without any money down. You must have seller and buyer aligned and waiting for you and for the particular property you are flipping which seems to be quite improbable. Too easy to be true? Maybe it is. I'm also wondering on all these gurus selling "how to make money" techniques instead of apply the technique they preach on! Hum...
perlaand 10 months ago
this is what my roomates' brother did during the boom..he's doing it now, too. With a great return, so it's not so bad...this will be my next move!
GEORGEZNEMETH 1 year ago
1- If you read the papers and watch tv, you are advised, as a seller, not to sign your deed over. Who advises that? AG offices mostly, made up of lawyers. Who solicits 4closre biz? Lawyers. Hmmm
2- If you have the deed, and record it, you have violated the Due on Sale Clause, which means the bank calls the note in, period.
3- If you have the deed and do not record it, the signed deed is worthless, because the owner can sign another deed, and another, until one is recorded. That one counts
andyscorner101 1 year ago
Wow thats it ? This is awesome. I am going to try it today. LOL
billyboy630 1 year ago
To all consumers:
This so called "self made millionaires" make most of their fortune by selling this "obsolete techniques" videos on seminars around the country...but don't get me wrong there is money to be made in Real Estate, if you have the money to invest.
Punit29 2 years ago 2
lol, u r so right! they make money selling all these Hows that r worthless!
IInnaLA 2 years ago
wow what a whole bunch of crap.
First of all, no home owner in his right mind will deed his/her property to you (have you watched the news lately?)
Second of all, Banks are not stupid. They are not going to short sale you the property for less than the current market value. Have you heard of Appraisals and BPO's?
Dude you have no idea what you are talking about
Punit29 2 years ago
REO (Speedwagon) - negotiate with the bank, get a list from a "Realtor" who deals with REO's - and after a while, Banks will be calling YOU with notes - Shortsales are ok, but REO's is like Burger King holding onto Cement - Banks are not Home Holding Tanks. They wanna get the most for their money, BUT HEY - I tell them "ok, good luck" and usually get an offer :) (PLUS - you dont need to deal with distraught people, they are already somewhere else being distraught)
income101 2 years ago
Good luck getting a lender to let you take the property at 40-50cents on the dollar. like most scams, sounds great in theory but reality is another thing
billyboy630 3 years ago
scam
doug7164800 3 years ago
Wow this explains alot!!!..i almost got suckered in to buying Dwan Bent Twyford's millionaire mindset collection...but after research and your informative vid..i thinki know all i need to know this is horrible!
idejavu 3 years ago
Thank you very much....Good video.
upscalemomma 3 years ago
This has been flagged as spam show
happy youtubing everyone
Doggnuttsb4u 3 years ago
great vid. thanks for upside and downside. I don't like the idea of ruining someone's life and family.
agargarita 4 years ago
Crap, I am definately one of the guys who already paid for the seminar. I spent almost $2000. on about 8 hours of seminars. Wish I had seen these videos first.
flinvestor5 4 years ago