Realtor & Sub2

[mtnwizard]

Tony,

You asked how I get a seller to accept my deal.  Here's my schpiel, either written or verbal:

"If you are willing to wait for most or all of your equity, and remain on your loan for 3 years  I will legally assume 100% responsiblility for all mortgage obligations, maintenance and repairs, management and upkeep of your FOR SALE or FOR RENT OR LEASE property. As a real estate investor, I make this proposal in the hopes of obtaining income tax benefits relative to mortgage interest and property taxes. I will agree to pay 100% of your equity in 3 years and reserve the right to sublet the property, while fully guaranteeing the performance of such a pre-screened party re payments, insurance, taxes, maintenance, etc.
 
During my tenure in our agreement I ask only that you continue the existing mortgage financing in place, and that the property be held in a bonafide land trust in your name (at my expense). I require only that you name me a co-beneficiary of the trust, and a triple-net lease tenant in the premises. You are not obligated to transfer the property's title to me until I have fully retired your existing mortgage and repaid current equity.
 
What is your assurance that we will keep our end of the deal?
 
Your property is never at risk. It is held in a Trust™ in your name alone, until your loan is retired and you receive all the money due you. By utilizing this asset management strategy, you are using THE SAFEST and MOST SECURE means of transfer of ownership interest. You never have to worry about anyone's legal or personal problems attaching to the property, such as tax liens or creditor judgments. Even the IRS cannot penetrate the trust in order to get the property."

Da Wiz

[TonyDiCorpo]

my only question is completely boggeling my mind...and others may wish to know the answer to this too.   how did u get the little "TM" next to the word Trust?

[mtnwizard]

Tony,

That stands for Tillie Malone.  She's a Lilliputian I met in the '60's who likes to hang around and sprinkle magic dust while I'm posting.  It occasionally lands on the type.

Da Wiz

[flatboss]

'Nuff said!  Tuff, Wiz. Real tuff! :D

[TonyDiCorpo]

oh, the 60's and the magic dust.  now i know what happened  can i have brownie?