Posted by S.H. on July 13, 2001 at 16:00:29:
Have you connected with the Real Estate Investors Association of Oakland County (REIA?) They’re pretty knowledgeable, and I’m sure they could help(www.reiaofoakland.org)
Anyone in Wayne Co. MI. doing ‘subject to’?? - Posted by Taylor
Posted by Taylor on July 13, 2001 at 12:06:02:
Hi
I chose as my primary way to acquire property is by using the ‘subject to’ method. I spoke to several attorneys about this method and so far only one has been open enough to at least listen to the entire process.
Although he seems interested and claims that he understands how it would work (land trust and all) he is still not comfortable with it enough to do my closings via this method. He admits to not having heard of or done one of these transactions before.
I had taken my business plan for him to review just so he would be on the same page with me and would know what I was trying to accomplish in my investments. He was impressed with the info. I presented and with the detail from purchase to exit options that I intend to implement.
Bottom line he is still willing to work with me and have not totally dispelled the idea of ‘subject to’ transactions.
This is good. I think with time after I’ve worked with him some we can explore and discuss ‘subject to’ deals. Hopefully he’ll come around and if not embrace it at least accept that it is a legal and ethical means of investing in real estate.
Anyone in this area of Michigan please let me know if you have come across an attorney that is willing to work with you doing ‘subject to’ deals.(ie. if you’re willing to share your attorney and not affraid of a little competition.)
Thanks
Taylor