I was sent this article by another member on this board. I would like to get thoughts from other members on how they conduct their business and how they differentiate themselves from what is going on in this article.
The idea of options and land trusts was extremely interesting to me and many people on this board make it sound like win win for everyone involved.
After reading the article in a way I almost feel dirty just discussing these topics.
So… bring it on, tell me how I am so wrong and how what you do is so much different than what is being discussed in the paper.
I enjoy a good debate and really do want to find out if there is a way to be in this part of REI without feeling like a scum bag. This post is in no way meant to be an attack on anyone.
Thanks to all who participate and I look forward to your responses.
let me be the first b4 $cash$ jumps in lol sorry cash, had to say it!
that article is about scam artisits. they are scammers becuz they took advantage of folks in a vulnerable situation, took deed to their property and did not pay off or make good on the underlying loan. they are worthless peices of s*** and deserve to go to jail for what they have done.
we, in creative real estate are completely different. we are the good guys. we help people out of a potential dangerous situation with empathy. we are fair if they have substantial equity, and offer them most if not all of it becuz we will make out money on the back end when we sell it to our end buyer. these scumbags were going after the pre-foreclosures, promissing to pay arrears, and make forbearances and did not make good to their word. they had no intent to do it altogether.
that’s how we are different. that article is being used to shut to attempt to shut down the entire Creative RE invetors arean and the good guys are going to get screwed becuz of a few bad apples. i actually don’t target pre-forclosures, i target the ones that “may” be headed there, or just want out for whatever reasons
that is y TX legislators (boneheads) instituted senate bill to make L/O and CFD’s more difficult unless the properties are owned outright, free and clear of any leins in order to sell them on contract. they thought we were all screwing poor mexicans on the border, but we weren’t all doing it. now it’s next to impossible to do creative RE, like sub to in TX.
hope that answers ur questions. please do not jump to conclusions like the idiots in legislation. that is exactly why they published that article, see how u reacted? they want all of america and the other boneheads in lawmaking to feel the same way. their marketing is working to an extent but hopefully we will counter that…right $? ;D
Well said, Tony.
I didn’t realize when I asked for the article, thanks again John, that I’ve had it for 8 months now. I actually use it as a training resource for my sales team as examples of what I won’t allow. I could twist off on scam artists again, Tony…still furious over Bighat’s deal, but I covered that a few minutes ago.
What to say what to say… how about starting with i’m sorry. You are absolutely right and I did somewhat over react to the article. It was passed onto me by someone that I trust on this board with the advice that I must be very careful with whom I do business. I can absolutely see a night and day difference between many folks on this board and the scum in the article.
Like I said initially I am glad that we could talk about this with rational discussion and I appreciate you setting me straight.
no apology needed or expected, IMO. u reacted as if u were a consumer, and that’s ok to an extent. had u been around around here a little longer and did that i’d have flown to CO and hung u out to dry lol just kidding :o ;D. the more u hang out here and read, and interact the more u will relaize this is an honest biz, and all of the members here i have met are honest folks, each doing their own thing, their own way, making an honest living.
Short story on it, Sean is he picked up a foreclosure at auction previously owned by a scumbag investor. Scumbag had sold the home to an unsuspecting couple on an unrecorded wrap mortgage. Unsuspecting couple, seemingly safe and secure in their new home, go to work and perform a complete rehab on the home (at their own expense) while making payments to Scumbag who is pocketing 100% and not covering the underlying mortgage. Ultimately, foreclosure after many months of no-pays. Poor bighat picks the home up and has to inform Unsuspecting couple that he’s the new owner. Bighat tries to work with them, but Unsuspecting couple has no money left and no home because of Scumbag’s BS and their costs of remodeling. It’s exactly the type of situation Texas, NC, MD and several other states are trying to prevent by new anti-investor legislation.
Just to chime in I did not read the whole article and sean you should outraged by the deceitful methods of these thieves but creative investors do NOT work this way and I echo dave’s remarks on that. One needs to be sure they are conducting their business in a legal, ethical and of course safe matter for all parties concerned, if not this is the first litmus test .
There are different methods to doing creative real estate and I use land trusts and I know dave h he is a very honest and ethicall businessman and john cash on sub2 an expert to be admired and my point is even though we all have different methods we all do business in a ethical matter and that is making sure we follow the law and look to protect not just us as the investor but all parties in the transaction or its a no go and there are sometimes honest mistakes but the intent is the key and it is a shame we all suffer due to a few bad people out there. I am helping this lady who got scammed on a deal in LV a sad story for sure…
It only goes to show you when you look to help people in this business or really any other the money always comes your way.
I hope there are more investors feedback to these and many other negative articles that the media tends to sensualizes to promote their network ratings…