Then you find a buyer who has ability to quickly close close complete the

Then you find a buyer who has ability to quickly

This preview shows page 25 - 28 out of 121 pages.

Then you find a buyer who has ability to quickly close ( close = complete the acquisition by paying off the seller) , and you assign that PSA or the OA to that buyer, using an Assignment of Agreement form. The Assignment of Agreement form “places” your buyer into your position under the original PSA or OA; and your buyer then closes (completes the purchase) directly with the seller. The lower price you negotiate the more profit you will realize via the Assignment Fee from your buyer. Also, the longer time you have with the seller, the higher your chances are of finding a buyer who will successfully complete the purchase.
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Foreclosure Investing MASTERY - Manual – SECTION 1 . Copyright 2017 – 2018 © Marko Rubel Page 26 of 121 à Remember, when controlling a property that is in a foreclosure process, you (and your buyer) are subject to that foreclosure deadline. That is, your buyer must close before the foreclosure auction date! NOTE: in Chapter XIII: Blueprint B-1; we’ll discuss the necessary steps in the Wholesaling process, Purchase Price criteria, and the Assignment of Agreement. Control Using a Lease Option Agreement Another way to control a property is using an Option Agreement in conjunction with a Residential Lease. This technique is out of the scope of this course, because it is not applicable to properties in foreclosure due to the relatively short time frame imposed by the foreclosure process. However, I wanted to make you familiar with this concept because it is one of the easiest and risk-free ways to generate quick $5,000, $10,000 or more via an Option Consideration (a down payment from your buyer); while at the same time put yourself in a position to collect monthly cash flow, AND create long term wealth by controlling a property for 3, 5 or more years. The diagram below will give you a basic understanding of the process, and later on as part of your Diamond Membership I will give you a full instructional course on how you can use this powerful method.
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Foreclosure Investing MASTERY - Manual – SECTION 1 . Copyright 2017 – 2018 © Marko Rubel Page 27 of 121 Own For Wealth Using “Unlimited Funding” In order to build true wealth in Real Estate, you need to own properties. Not only that ownership gives you the strongest form of control, but it enables you to enjoy the tax benefits that owning Real Estate provides. Ownership via Land Contract Ownership via Land Contract (a.k.a. Contract for Deed or Agreement for Deed) provides the equitable ownership, while the legal ownership (the deed) stays with the seller. In essence, you have an agreement to get the deed at a future date. This type of seller financing enables you to “own” the property without qualifying for a loan, and in most cases using $0 or low down payment. The arrangement is made with the seller, whereby you’re making the payment to the seller (or the servicing agent), and the seller is making payments on his loan. At a later date (defined in the agreement) you will pay the remaining balance on the
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  • Spring '15
  • Mr. Gardner
  • Subprime mortgage crisis, short sale, Hard money lender, Hard money loan

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