Posted by Jim IL on September 12, 2000 at 16:16:25:
Vladimir,
There are a few courses that cover taking a property Subject to the existing financing, as well as some articles here.
Try to look for articles about “Beating the DOS clause”.
I have used this technique, and frankly , it is one of my favorite.
Once you find a truly motivated seller, it is rather easy, provided you understand how to do it.
There is one thing that you seem to misunderstand.
The seller does not deed to property to you.
Rather, the seller deed the property into a Land Trust, and names themselves as beneficial interest in that trust.
The seller then assigns that ben. int. to you.
good luck to you,
Jim IL
some of the investors here (whom were more experienced, I presume) mentioned a technique, where a seller, about to go into foreclosure, would transfer deed into buyers name.
My question is this:
Which course (who is the author, title of the course, etc.) explains this technique best. Why you think it is better explained in this particular course than others?
Have you successfully used this technique yourself?
Please do not answer if you have NOT used this technique. I thank you all in advance for your honesty and responses.