Re: Will this work in Arizona? - Posted by Sean
Posted by Sean on July 20, 2001 at 09:49:29:
Well, I don’t live in Arizona. I live in California. California is a lien-theory state, not a mortgage state. Accordingly some things where I’m at are different than Florida, where Carleton Sheets is most familiar with.
So instead of mortgages we use trust deeds. Instead of contracts for deed we have land contracts. Instead of wraparound mortgages we have all inclusive trust deeds.
This doesn’t change the fact that Carleton Sheets program, for all his hype, is pretty simple and straightforward. He simply gives creative examples of ways to borrow money. The crux of his program is still 1) Borrow money 2) Buy real estate 3) Rent it out 4) Repeat until desired wealth obtained.