Re: The Porter case: Here is what went wrong. - Posted by GL(ON)
Posted by GL(ON) on July 14, 2002 at 14:23:31:
Oh I’m just full of crazy ideas. Maybe it comes from listening to gurus touting courses on how easy it is to make a million by doing subject to’s with no money,no work , no experience and no risk.
Re: The Porter case: Here is what went wrong. - Posted by JohnBoy
Posted by JohnBoy on July 14, 2002 at 14:33:36:
Don’t listen to gurus touting courses on how easy it is. Courses are good. You need to learn the ins and outs and have a full understanding of any type of deals you do before just jumping in. But at the same time you have to be responsible for your own actions and apply common sense. You can’t just jump in and blame the gurus if you mess up. It’s up to each individual to use common sense, build reserves, know your exit strategy, and know what your limits are. If you do that then you should be OK, but there are never any guarantees and regardless of how you buy real estate, there is always risk. This case has nothing to do with subject to deals as for the reason this happened. The ONLY reason she is in this problem is because SHE DID NOT MAKE THE PAYMENTS! Buying subject to has nothing to do with you not making the payments!
This isn’t a case of the payments weren’t made only because the properties were purchased subject to, but had they been bank loans in her name then she would had made the payments! Get real!