Posted by DARLA on December 08, 1998 at 08:19:21:
I am sure one could find a lot of failure stories and only a few success stories. The education it what works for you. BUT You have to apply the knowledge and work like heck to get that first property. Do Not Give UP.
Any Sheets tried&failed out there? - Posted by Joshua Meeds
Posted by Joshua Meeds on December 07, 1998 at 22:06:49:
I ordered the Carleton Sheets “Zero $ Down” course, and am still waiting for it to come. I’ve read through this group, and heard lots of people who tried it and succeeded, and a few who didn’t try it after buying it so of course failed. But I want to know about people who actually try the course - negotiate a deal, end up owning property - and then fail.
This seems like a real risk to me. As one posting put it, “What happens when you get the property and don’t rent/sell it within a month?” “You pay the mortgage.” Is this a risk with the course? Or are its methods such that that wouldn’t happen? I of course will put a lot of effort into it, but I see properties for sale and rent all the time around here that keep that status for months-years (of course, I also note that in a couple major internet real-estate for rent sites, there isn’t a single home listed in this area).
“What Happens” - Posted by PBoone
Posted by PBoone on December 08, 1998 at 23:11:53:
Your question about “what happens when you get the house and do not rent/sell within a month”?
In you agreement to purchase you place the contingenct …“subject to buyer finding suitable tenants to occupy property before close” Have the future tenants give you a non-refundable deposit which helps you pay any or all closing cost.
Pat
Re: Any Sheets tried&failed out there? - Posted by henry
Posted by henry on December 08, 1998 at 05:11:36:
I tried CS course and I am still purchasing properties with it, it all depends on how active you are with it and how bad you want it, I bought a few rehabs and had to pay a month here and a month there , while I was rehabbing , but when I refi, I got 30 times the cost of a month’s mortgage. Or when I O|F the down payment took care of it all, there are ways around the mortgage
as far as gettingf it back, it just depends on if you can afford it or not,and remember I got rehabs,you can purchase homes that need nothing and just turn them around quicker
Good Luck
Re: “What Happens” - Posted by Jen
Posted by Jen on December 09, 1998 at 12:19:28:
Have you ever had the seller balk that this might take too long? It’s it wise to say we will close whenever a suitable tenant has been found or 60 days, whichever is sooner?–to close the deal. Has it taken you more than 30 or 60 days to locate a tenant and have them move in? Thanks for all your help.