Call the Customer Service number and tell them you want to return the program. They will offer you a 50% off deal if you keep the program. Easy way to save your first $100 towards a downpayment, it should be the first lesson in his program (which BTW I think is good, although overpriced). I have 4 investment properties currently making me $1100 per month positive cash flow and I have $300k in equity. However, this has been over 10 years. Also, don’t beleive the 5% per year appreciation as even in Silicon Valley, California where I have a property I bought in 1988, the appreciation averaged out over 10 years was barely 5%, and that is considered to be a hyperinflated market. I wouldn’t want to even know what my appreciation has been for a proprty I own in Alabama over the last 10 years (could be negative appreciation there). Just a word of warning.
I’ll take Double Escrows for $400 please! - Posted by RRSmith
Posted by RRSmith on October 09, 1999 at 08:01:29:
How to be tremendously unpopular with the local real estate agents. Real estate agents hate real estate investors (to much competition)cause usually they think they know or they REALLY KNOW more than a vet. agent. Double Escrows cut your local RE agents out of not one but TWO COMMMISIONS. (no wonder they hate us)
This is how double escrowing works (thank you George Achenbach and John Reed)
(it is a method not a recipe, so please don?t tell me I left out the salt).
First find one half of the transaction (I would find the easy side first, i.e. the buyers side in a buyers market and the sellers in a sellers market) it can be ANY KIND OF TRANSACTION. You talk to a FSBO down the street using Zig Ziglar ?Secrets of Closing the Sale?. Sue and Sam Seller are having trouble moving their place (you notice quickly it?s over priced for this market) (You promise that you can move their place as fast OR FASTER than a Real Estate Agent.) You talk them in to selling their place at slightly more than what they are asking. They are amazed; they look for your red cape?! You spend a lot of time with them and describe how L/Options work and they agree to go that way. Now comes the (somewhat) tricky part, you get them to sign paperwork saying that they will perform(stick to their part of the deal). That is you take Sam the Seller to your escrow agent and escrow that half of the deal (you put Sams escrow check in an escrow account and he signs paperwork that describes the deal). Since you now do this for a living you have the details already hashed out and the proper forms etc. etc. Now you have locked down one half of a double escrow deal (neither half knows about the other half!) and YOU GO LOOKING FOR THE OTHER HALF.
Finding the other half is the same only you are more creative now , ads prequalified buyers, investors, and rehabbers (Me!, Me!). So you cut a deal to wholesale the property to Ron the Rehabber for $2000 dollars that same day. You take Ron to see your friendly escrow agent (is scheduling a problem when she is making this much money??) and lock down the second half of the deal. Ron never talks to Sam or Sue. You schedule a DOUBLE ESCROW for later that week. The sincere sellers are matched up with the under employed ReHabber, and (you and your escrow agent)charge a fee to both halves so this is WIN/Win ? Win/WIN?..and no I didn?t stutter.
