the only issue i have with this is that if “it looks like a duck, walks like a duck, and quacks like a duck…” just be careful with this method.
Tony,
I know a Subject To investor that will swear to you Subject To deals are illegal in Ohio and tells everyone he meets try somewhere else.
John $Cash$ Locke
hi $,
some folks just don’t have a clue about what s2 is. and they aren’t even in TX! otherwise i’d be on to the “stay out of my territory” game lol
By golly,
I think you may have found a way to skin that cat…lol. The only downsides I can see is the DOS issue, potentially having to foreclose on the buyer and collecting on the promissory note. Very creative! I’ll be doing some things in DFW, I’ll keep you guys advised of any issues I encounter.
Regards,
Dave
david,
i created this method and hold a copyright on it exclusively for its creativity. thanks for ur kind words ;D
as long as the buyer/seller agree tothe terms I really dont think it is anyone elses business. Another liberal regulation imposed no doubt
“as long as the buyer/seller agree tothe terms I really dont think it is anyone elses business.”
I don’t think I’d want to use that as a legal defense in front of a man in black robes… 
The AG made it his business…
regards,
Dave
you are right but just because it is law doesnt mean it is the right law. Its a shame lawmakers have to get involved with some things they should not be involved in.
dwj469,
If you think it tough to do business with all the laws, look what happened to Noah.
In the year 2005, the Lord came unto Noah, who was now living in the United States, and said, "Once again, the earth has become wicked and over-populated, and I see the end of all flesh before me.
“Build another Ark and save 2 of every living thing along with a few good humans.”
He gave Noah the blueprints, saying,” You have 6 months to build the Ark before I will start the unending rain for 40 day and 40 nights.
Six months later, the Lord looked down and saw Noah weeping in his yard - but no Ark.
“Noah!” He roared, "I’m about to start the rain! Where is the Ark?
“Forgive me, Lord,” begged Noah, "but things have changed, I needed a building permit. I’ve been arguing with the inspector about the need for a sprinkler system. My neighbors claim that I’ve violated the neighborhood zoning laws by building the Ark in my yard and exceeding the height limitations. We had to go to the Development Appeal Board for a decision.
Then the Department of Transportation demanded a bond be posted for the future costs of moving power lines and other overhead obstructions, to clear passage for the Ark’s move to the sea. I told them that the sea would be coming to us, but they would hear nothing of it.
Getting the wood was another problem. There’s a ban on cutting local trees in order to save the spotted owl. I tried to convince the environmentalists that I needed the wood to save the owls-but no go!
When I started gathering the animals, an animal’s rights group sued me.
They insisted that I was confining wild animals against their will. They argued the accommodation was too restrictive, and it was cruel and inhumane to put so many animals in a confined space.
Then the EPA ruled that I couldn’t build the Ark until they’d conducted an environmental impact study on your proposed flood.
I’m still trying to resolve a complaint with the Human Right Commission on how many minorities I’m supposed to hire for my building crew.
Immigration and Naturalization is checking the green card status of most of the people who want to work on the Ark.
The trades unions say I can’t use my sons. They insist I have to hire only “Union workers with Ark-building experience.”
To make matter worse, the IRS seized all my assets, claiming I’m trying to leave the country illegally with endangered species.
So forgive me, Lord but it would take at least 10 years for me to finish the Ark.
Suddenly the skies cleared, the sun began to shine, and a rainbow stretched across the sky. Noah looked up in wonder and asked, “You mean you’re not going to destroy the world?”
“No,” said the Lord. “The government beat me to it.”
John $Cash$ Locke
Good Evening Mr. Locke, what a pleasure it is to see your name on this site 
hope all is well…btw in reference to your story…so true, so true.
;D
Mr Locke that is exactly what I was talking about except you put it much better than I.
Thanks
Thank You John
Now that is funny :o :party: :dance2: 
:anon: :bouncemulti: :eyecrazy:
Thank you all, when I posted this I was thinking, we think we have it tough as investors with all the current laws being passed and bad mouthing going on about what certain people think we do to the sellers.
We have the problem of the small group of bad guys out there who create the problems and then these laws go in effect, when the majority of investors in our great industry are only trying to make it a win/win for everyone and sometimes get cast in with the bad guys.
It makes me think of a family sitting on the curb after the sheriff came and threw them out of their house, when we could have helped them by doing what we do best. I don’t see any lawmakers telling the sheriff to go away because they are going to help them.
At least Noah was trying to give them a place to live.
John $Cash$ Locke
“…It makes me think of a family sitting on the curb after the sheriff came and threw them out of their house, when we could have helped them by doing what we do best. I don’t see any lawmakers telling the sheriff to go away because they are going to help them…”
…
I like this analogy
thx
You’re right. Wraps are still fine, in fact, they’re a good alternative to lease option. L/O is not technically illegal here in Texas it’s just been made horribly difficult. It’s unfortunate that a group like ACORN, in concert with our ever effectual legislature here in Texas has to tar all of us investors with a brush that should be reserved for those who are criminal and truly deserve to be punished for cheating people.
How did you know it was a lib group and lib senators who lobbied for, drafted and sponsored the legislation? Reeks of the whole “Here, let us dictate your life for you” mentality doesn’t it? I agree with you, if two people agree and no one violates a law or the rights of the other person(s) involved, all are of legal age and mentally competent to enter into an agreement then I fail to see an issue.
This is a great post. Find one criminal out of a thousand people, and make laws that screw the whole thousand.
Hey, it’s what government does. They’re trying to protect us right.?.
This law removes a very popular means of acquiring property from lower income people. It only allows a lease option if you own your home free and clear. The great majority of lease options are on homes that have mortgages.
This is NOT a liberal bill. Limiting the ability of the poor to acquire property has been a conservative principle for a long time.
Sorry, it was sponsored and pushed by the liberal group ACORN and liberal Senators here from South Texas. Conservatives just don’t believe that societies achievers should be forced to support those who either don’t or won’t take care of themselves. We believe in private charity, families and churches taking care of people, you know, like it was until LBJ, a lib, set up income redistribution in '65.
As to the L/O legislation, the requirement for a house to be owned free and clear in order to l/0 was removed last spring. A private owner can l/o his personal house even if there is a lien on it.