Hey Folks,

I saw something online today in a product being advertised that kind of disturbed me.

I’ll share my thoughts in a moment, but first, take a look at the items I found.

“Blank Lease Agreement signed by Seller-If lender calls loan due.

and this………

Blank Lease Agreement signed by Seller-If lender calls loan due.”

Apparently these are two forms being offered with a subject to package of some sort.

Now don’t get me wrong, I know everyone has their own way of doing things. As with any subject to course, the forms, methods, and techniques are as different as the people who write them.

However, once in a while, just plain bad or wrong advice/instructions are published. That is dangerous, investing in real estate is a BUSINESS and must be treated as such.

It is MY OPINION that this is the case with the two forms above.

Here is why;

The first, is a BLANK LEASE signed by the sellers, in case the loan is called due. Naturally, the thought of a loan being called due because ownership has changed hands is rediculous at best, and worse, using a FALSE form, where not one agreement has really/truly been made, is wrong, most likely illegal, and certainly not ethical.

The second form, which is also a lease, signed by the sellers to offset debt to income ratio? THEY HAD to be kidding……my question is, who, where and why use this form? It will be fraudulent. An agreement that does not really exist, being presented as active and binding? Where did this author/publisher get this?

Apparently they’ve done a ton of subject to deals, right? NOPE!

I’ll address this, and some other issues tomorrow I’ve found online, with some pointers and links to some good quality FREE information.

Always watching out for ya,

Jim Mitchell

a/k/a “The Biker Who Buys Houses”

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