Unleash the Power of the Land Trust

By Carol Stinson

Learn how to close more Foreclosures, REO and Short Sale Properties using a Land Trust. Learn how to use a Land Trust to buy or Wholesale a property subject to the existing financing? STOP LEAVING DEALS ON THE TABLE!In this book I will share all of the strategies that I use to close on Foreclosures, REOs and Short Sales. STOP cutting into your wholesale fee to double close a deal! START CLOSING EVERY DEAL WITH A LAND TRUST AND YOU WILL START CLOSING MORE DEALS! I have even included all of the contracts that you will need for each strategy, JUST PRINT AND USE!

• Language: English
• Publisher: Lulu.com
• Release date: Jan 8, 2015
• ISBN: 9781312818200

Book preview

Unleash the Power of the Land Trust

Unleash the POWER of the Land Trust

Taking Real Estate Wholesaling To A Whole New Level!

Create and use a Land Trust to get REOs and Short Sales closed quickly and easily.

Create and sell an LLC to quickly transfer ownership of a property over to your buyer.

Use a Land Trust  when taking a property subject to the existing mortgage.

By: Carol Stinson

INTRODUCTION

I remember when I started in Real Estate back in 2008 the market was prime for wholesaling. I found vacant properties located the owner of the property and was able to negotiate a purchase price. The property owners were not upside down on their mortgage ( owing more on their mortgage balance than the property was worth) and the property was usually vacant due to the loss of a loved one etc... In today's market the mass inventory of vacant properties are the result of the Sub Prime Mortgage crisis that began in 2008. Sub Prime Mortgages were given to home buyers in 2006 and 2007 in an effort for the banks to supply the huge demand of Mortgage Backed Securities to Wall Street Investors. These Sub Prime Mortgages were given to home buyers with poor credit and those who did not financially qualify could provide stated income verification. As a result of the higher credit risk the home buyer received an adjustable interest rate that would start out at a high 11% and would reset in the future to a higher 14%.. This meant that these Mortgage Backed Securities offered Investors a high rate of return due to the higher interest rates on the mortgages. However, those  high adjustable rates ultimately caused massive defaults when the interest rates began to reset to a higher rate in 2008. Once this happened the home owner found it difficult to afford the higher interest rate payment resulting in major defaults and massive foreclosures.

I am sharing the origination of the current foreclosure crisis with you so that you know how the current real estate market got to where it is now. I believe that if you are going to work the end result ( wholesaling short sales and REO properties) you should know the beginning of the story, where it all began. I hear people say that the current foreclosure crisis is the result of  irresponsible homeowners not paying their mortgage others say it the result of bank's greed. I say it does not matter HOW we got here the fact is that we ARE here and we must learn how to adapt our techniques to the current market. A Wholesaler is basically a Transaction Engineer able to engineer a closing transaction in a way that will allow them to profit at closing. Since contracts are what we sell to our buyers (Not Properties as only Agents can sell properties) we must be Contract Magicians able to create an effective contract so that we can get paid at closing. We must also be creative in the various transactions that can transfer a property from seller to buyer. There is more than one way to transfer properties and being familiar will all of the methods used to transfer properties is key to effective wholesaling.

As  real estate wholesalers and Investors we have conditioned ourselves to believe that the only way to transfer a property from seller to buyer is by utilizing standard real estate contracts such as a real estate purchase agreement and an assignment contract. On the contrary there are many ways to transfer a property from seller to buyer outside of the traditional real estate transactions. One of the biggest stumbling blocks for wholesalers in today's real estate market are the assignment clauses and deed restrictions set by the banks when purchasing a Foreclosures, REO or Short Sale. These properties make up the majority of the inventory in today's market and therefore wholesalers are finding themselves stuck when it comes to closing these properties and making a profit. This is because most wholesalers are stuck in the tunnel vision of traditional wholesaling.

I intend to set you free from this stinking thinking by providing you with wholesaling strategies that will enable you to get these deals closed and provide you with the contracts that you need to do it. I am not going to cover traditional