Hey folks,

I want to address some things that have come to my attention recently.

As most know, I’m an investor who uses many tools to buy and sell properties. Of course, I do sort of specialize in subject to deals.

When speaking with several local investors, agents and brokers, I keep hearing the same thing, “Subject to will not work with all the houses on the market that are underwater”.

So, knowing they were wrong, and also knowing that my word was simply not enough to convince naysayers, I decided to write about it here.

It is simply wrong to say there are no deals to be had. So, look at the market this way………right now, there are approx. 10,000,000 homes out there underwater. There are another 20,000,000 or so houses owned free and clear.

In this market and economy, job loss, income reductions are are creating motivated sellers.

Think about this, just 5 years ago, investors were able to buy houses in a sellers market, using creative methods, and sell them for profit.

Now, it is a buyers market, a strong buyers market at that.  This means there are more motivated sellers out there than ever before.

Granted, there are those sellers who are motivated, and yet still hold out for sales that may never happen.

But, as most active long term investors know, getting deals is somewhat of a numbers game. Small marketing efforts are resulting in tons of calls from sellers these days.

From every 20-30 calls, perhaps 2-3 deals will be in the mix.

The thing is, even though I don’t agree, buyers are of the impression that lending is tight and mortgages are hard to get.  So, any chance at home ownership that does not require obtaining a mortgage is rather popular.

I like to give examples, so let me do that now, with a current deal we are working here.

Seller calls with a house they have owned for 15 years. They refinanced it 7 years ago for an 80% mortgage.

Now, with values dropping, they owe just over 60% of the current value.

The problem is, the sellers are no longer able to refi, and cannot make the payments they have now, due to job loss.  I offered to buy subject to the existing mortgage.

Sellers accepted and now, we have the house for sale as a rent to own.

I will set my sales price to my buyers at 85% of the current value, which is a deal for the buyers, and collect 3-5% of value upfront as option money.

The house will cashflow for approx. $300/month after all expenses.

The value in the deal is the service provided, as well as the equity.

I am offering a service to the sellers, by allowing them to get out from under and obligation to make payments they cannot afford.  I’m further offering a service to the buyers, who cannot obtain a mortgage at this time, but have steady income that supports the house.
and of course, all for a profit.

So, yes, the market is different now than it was………..and that is GOOD FOR INVESTORS!

So, get out there, market for sellers, and BUY NOW!!!
I am!

And of course, to help you jump start your investing and get you on the road to wealth, I’ve made a decision.

My main course/book “The Biker Who Buys Houses” is now DISCOUNTED BY $500!

Get it now, for the LOW price of $97!

Thanks for reading, and by all means, comment or email me with your thoughts.

Jim

http://www.TheBikerWhoBuysHouses.com

P.S. I just checked my email and realized, I had no less than 15 emails in my inbox about this new AMPS system, or where they talk about “Assignment of mortgage payments”. I have to tell you, after reviewing the material with a friend who read it, good for them, they finally get it. “assignment of mortgage payments”, is basically buying a house subject to, or, more specifically, getting a house under contract to buy subject to, and then assigning the responsibility of making the payments and ownership over to an end buyer. It’s an assignment of contract, in my opinion. And, for WELL LESS than that course, you can get mine, which explains why this is a BAD idea. I always stay in the middle of my subject to deals, until my buyer can extinguish the underlying mortgage. Ethics aside, it makes more sense, and makes more PROFIT! oh, and I’ve been doing this for a LONG TIME, with well over 500 transaction personally completed! Forget AMPS, learn my way, for less and better support….I’m not hard to find, and do answer email and phone calls. Sorry, had to get that off my chest………..and NO, if you buy from me, I won’t PUSH other materials on you from others. I’m still an investor, who just so happens to sell how he invests, not an info marketer!