Derrick Ali, PLEASE
PLEASE tell us what happened with your purchase of the properties listed on:
www.thecreativeinvestor.com/ViewTopic1408-18-9.html.
Need details of the purchase so I can join and do these “by the dozen” like you said.
Thanks in advance.
John (LV)
John and J$C$L:
You Asked for It You Got it:
CMiller2 Wrote -
Case 1: (Addressed by Derrick in another post)
House value $115K
Original Loan 2 years old: $109K
8 Months arrearage at $1000.00 per month
Payoff: $120K
PLAN A
Request A Workout Plan
Step One: Ask Lender for a Forbearance Agreement
Step Two: ReSell to R/B (Tenant-Buyer) for $126.5K ($115K +bumped Equity of 10%)
Step: Three: Collect 15% Down = $18,975 in Up-front Money from R/B
Step Four: Pay Attorney Fees, Set Up EHTrust, pay in Reserves
If Lender Says NO{/B] to Workout Plan or Not enough Cash or Time to Locate an R/B then:
[B]PLAN B
Short Sale
Submit Contract to Lender for .70 x $115K =$80,5K
Upon acceptance either Wholesale or Retail for a Quick Turn Profit
Case2: (Sale happens in two days)
House worth: $156K
Original Loan: $138.5K
13 Months arrearage at $1213.00 / mo ($15,769)
Payoff: not certain, but it can't be more than loan.
Mortgagee: Countrywide
PLAN A (See Above Strategy)
[I]In Kansas City MO last Summer, I handled over 13 similar foreclosure deals like the above with COUNTRYWIDE (Short Sales) and another 48 deals using Land Trusts! My average offer .65 Cents on the Dolllar! My Average Equity Holding Deal cost out of pocket (ZIP-NADA-ZILCH!)[I]
Any Questions?
[ Edited by DerrickAli on Date 01/17/2003 ]
Derrick,
Did you partner with Clint on these deals or did you close them yourself and give a bird-dog fee to Clint for finding you these two deals?
Also when are you closing escrow?
Thank you
John (LV)
John:
Clint is a 50/50 partner on these or any others he wants to include me in on!
ESCROW is how we HOLD our transaction for a 2, 3, 5 Year or even 20 Year Maximum Term for Land Trusts!
We Say to the SELLER:
"If, rather than selling today, you will put the property into an inter-vivos trust (Title-Holding Trust) and then make us your co-beneficiaries for three years,
We will lease the property for that time and handle 100% of all costs, payments and management: and
At the end of that time We will retire your loan and pay you all of your current equity (read Full-Asking Price or Mortgage Paid Off) in full."
Escrow closes at that time John!
Additionally if Clint and I do a Short Sale he gets a 50/50 split of the PROFITS...that is after the proceeds of the re-Sell transaction covers me for my direct costs...
Unless Clint chooses to throw half of the $80K or so into the Short Sale purchase, then EVERYTHING is 50/50!
[addsig]
Derrick,
Let me rephrase the question.
Did you get the deals...YES or NO without the rhetoric and sale pitch please.
John (LV)
What's Your Point JohnBoy??
Clint called me to 3 Way with the Owner Last
Night What's your RUSH Big Guy???
Looking for the rub???
SLOW DOWN DER PARTNER!
There's more to Come!!!
Stay Tuned in All Right?
Best of the Best!
Derrick Ali
[addsig]
John:
To rePHRASE my Answer:
YES!!!
At least 50% of the two deals!
Lady will sign home over to CLINT tonight sometime giving us the Option + POA to move forward with the acquisition...
Also, He's getting an Authorization to Discuss form signed so we can negotiate a workout plan with her lender.
If this is a RED Light then we'll pitch a Short Sale Offer!
I got Asbestos in my shoe soles and cash in my Wallet in the event we do the Shhort sale and 7 1/2 ounces of Brains to do plenty of these types of deals weekly!!!
Should these deals go south I got 4 for each one that I can go back and CHERRY PICK from to replace em!
So tell us all what you got cokking on your REI platter besides my shoe soles?
(DETAILS PLEASE--I'm sure everone here would like to know!)
Best of the Best!
[addsig]
Derrick,
The original post stated the sale (Trustee) was to have happened yesterday which is why I am asking if you got the deals before the sale or not.
Thanks
John (LV)
JOhn:
Didn't do that...You'd have to ask Clint if that was the woman we spoke with last night!
John:
I just realized that there are TWO (2) CMillers
The one you are referring to is in VA and the one I am working with is in FL!
CMiller2 NEVER CALLED nor EMAILED I never worked on Case 1 nor Case2!
Sorry about the confushion!
Best of the Best!
Derrick Ali
[addsig]
Derrick Ali,
Since you brought my name into this conversation and asked if there were any questions, yes I have a few questions.
First let me state John (LV) did a deal last week, he gave the property owner $10.00 for his equity. This property was sold in 10 days for a profit of $18,000, this is Verifiable through the County Recorder Office.
Earlier you were refering to two deals that CMiller of VA had then you stated CMiller from FL was the one you were working with. Two CMillers from different states, you forgot the part about the check being in the mail.
This is were I really get confused, I was on a web site where I saw the Challenge you are doing (almost word for word) only on that site I saw a different persons name giving the challenge.
Now, I would be a little upset if someone were using my challenge somewhere else using a different name, Derrick who's challenge is this that is being used? Who originated this challenge?
Now if you want to challange me on how many deals I have done, let's rock n' roll only mine are "Verifiable" are yours?
The new person comes on this site hoping to learn from some of the pro's like John Michael, DaveT, Vern, John (LV), Bill Twyford, etc. They actually answer the new persons questions with out rhetoric and saying the land trust is the answer to everything.
They don't post three words so there post will jump back to the top of the forum topics either.
You brought me into this post so an answer to my questions would seem appropriate. Let's keep in mind the new person wanting to start there career is looking to us for guideance and help.
We have a responsibility to guide them in the right direction, so when I see something that looks strange I will question the poster. I'm a pretty smart fella Derrick, a real player in the creative real estate so I will be watching.
John $Cash$ Locke
John$Locke:
Did I bring you name into this or did you respond to my reply to CMiller2?
He mentioned my name the only (CASE1 answered by Derrick Ali)
Now. come on J$C$L:
This isn't about who does the most deals now isn't?
As a Matter of fact regarding the 14 Day Challenge:
BILL GATTEN Bestowed upon me the BLESSINGS of carrying on the Challenge!
I Represent NARS and answered that issue in a reply here on TCI (see "What is NARs)
Also, I'd like to Congratulate John on his $18K IMPRESSIVE!
Additionally I with you regarding Guidance and properly Presenting any direction, offerrings claims etc.
Is this all good?
Best of the Best!
DERRICK ALI
[addsig]
To All Concerned: I will be the first that is immediately disqualified, per Derrick Ali’s agreement.
On 1/14/2003 I posted at the following http://www.thecreativeinvestor.com/ViewTopic1408-18-9.html.
On the 15th I had a phone conversation with Derrick Ali. He called me from the Hospital where, as I understand, he was visiting with someone.
This is evidenced by the e-mail I sent to him on the 16th of January:
From: Clint Miller
To: asupremeco@ureach.com
CC:
Date: 01/16/03 11:36 am
Subject: Live one!
Attachments: Mentor Agreement and Information.pdf (2.036kb)
This is per our conversation last night. Looking forward to needed forms.
Thanks, Derrick!
Clint
-Clint
Clint S. Miller
cmiller@digitalme.com
865.973.0762
On the 17th He e-mailed me forms and we had another conversation on that day prior to the e-mail. See following:
Date: 1/17/2003 1:14:58 PM
To: cmiller@loadmail.com <cmiller@loadmail.com>
CC:
From: "My Docs Online" <mydocs@mydocsonline.com>
Subject: money2lendu@loanproz.com has given you a file using My Docs Online
money2lendu@loanproz.com has delivered a file to you using My Docs Online.
money2lendu@loanproz.com has delivered:
ATD.doc - 19,456 Bytes
COMMENT:
"Authorization to Discuss Form"
The file will be held for you for seven days.
To access the file use this link:
http://www.mydocsonline.com/TU/3E2847b3F6z2A6ba
If the line above isn't shown as a link, you can enter the address directly into your browser. If the link doesn't work from your Web-based e-mail, cut and paste the link directly into your browser's address field.
I have called and left one page and two messages this morning to have questions answered.
So there may be confusion as to whom cmiller is; in FL, but he definitely had exchanges with me on at least three separate occasions. I am Clint; the cmiller2 of VA
-Clint
Derrick,
This a quote from your post above:
CMiller2 NEVER CALLED nor EMAILED I never worked on Case 1 nor Case2!
Seems that Clint remembers it differently. Please expain why you would say you did not see these deals or never talked to Clint.
I see there are two CMillers listed on this site CMiller and Cmiller2, is the first CMiller the one from Florida?
Await your reply,
John $Cash$ Locke
John Locke,
I asked a question on this vein a few days ago and didnt get any response from Derrick.
I also saw the site you were referring, and I did a bit more digging and from what I saw Derrick is an "under study" of sorts. On that site if you go to the message boards he is there regularly, and I dont have a problem with that.
What I wanted to know and what people ought to know before joining Derrick and getting too excited, is how much does the organization that he fronts for charge for setting up this trust? Everything I read pointed to getting going and getting excited, then calling these people for what to do next. I know that they must be charging $$$ for setting up the Land Trust or PAC trust.
I would like to know how much they are making by people getting in the pipeline and using them for this purpose?
I also dont mind them making money, they do a nice service as do you John on your courses, but you are always up front with your fees, usually on the top of the document and bottom of course, but of all the looking I did, I didnt find any fee related information from them.
I would like to know and I think others ought to know before getting started.
GL
[quote]
On 2003-01-18 14:31, cmiller2 wrote:
To All Concerned: I will be the first that is immediately disqualified, per Derrick Ali’s agreement.
Clint..what do you mean by this statement?....how are you disqualified?
Derrick, Bill Gatten seems to have forgotten the "blessing" he gave you to use his material... here's his response to an email he received from me exposing your copywrite infringement:
Thanks for the heads up.
No, I did not give any such permission.
Will take care of this.
Bill
Good luck to you... it's not smart business to rip off people's material and claim it as you own.
* bump *
DaveM:
BILL GATTEN will be responding shortly!
See my ANSWER to CRITICS! Post
*BUMP* what's the word Bill??
Jimh634:
If you sincerely want to know...then You can ask BILL G. about his Blessings and other confirments upon myself by going to www.LandTrust.net
Or maybe his (BILL'S) SILENCE on this matter represents the trivialness of it's nature???
I never gave this much thought!
hope it helps you!
Derrick
Hi Derrick,
My intent was not to prove you wrong, but to set the records straight. I know how acclaimed you are on this board, and how your mentorship so sought after. But it is only fair if we get a response from your mentor Bill like you said. Nevertheless let me get back to my studies....
Quote:
On 2003-02-18 09:11, DerrickAli wrote:
Jimh634:
If you sincerely want to know...then You can ask BILL G. about his Blessings and other confirments upon myself by going to http://www.LandTrust.net
Or maybe his (BILL'S) SILENCE on this matter represents the trivialness of it's nature???
I never gave this much thought!
hope it helps you!
Derrick <IMG SRC="images/forum/smilies/icon_biggrin.gif">
Derrick,
Is Bill Gatten a member of this web site? He is not listed as a channel partner. If he is a member, then what is his user name?
Also, to offer the smallest bit of constructive criticism; your posts are hard to read. You seem to be highly motivated, but I have a hard time following your logic....
Did the two deals fall through? If so, how does one avoid this in the future? Or, is this risk part the business?
Thanks,
Pete
"Learning is a process, not an event."
Planders99:
How you doing!
Sorry for any unintended obfuscation...
Now let's get down to the nitty-gritty:
Deal # 1 went out the window with Clint short fuse onthis bomb(only 3 days to act)B4 Foreclosure Sale
Deal# 2:
It's Funny you should mention it!
It Died
(Owner disappeared Bank went to sale )
then it was Revived
(Got the Lender to agree to Work out)
then it Died Again
(Owner did 2ND Whodini & the Sherrif Sold it)
and TODAY it was Ressurected Once More for the 3RD Time just TODAY!!!
Th Owner got her BK 13 Dismissal Vacated and another Hearing date.
This buys Clint & I more time to get the home sold!!!
Please request Clint to keep you abreast of the details on this subject...B/C of my schedule demands I am unable to give as freely as B4! (:-()
I hope this Helps!
Derrick Ali