Curious George
Hi,
From what I've read, I think I want to start out in Subject to, but...
I've been getting mixed responses from different people about starting out in subject to.
One person told me that it's not a good idea to start out in REI doing Subject-too, while others have recommended it.
Is the due on sale clause that much of a problem?
I think I know most of the pros/advantages. What are some of the other cons/downfalls?
Whats the average turn around on investing in a course (How long should it take to learn and then perform to the letter)?
Thanks
Source 
Everybody learns at a different rate. Some go fast and do not retain. Some go slow and slurp everything and can repeat it upon request. I hate them.
The strange thing is sometimes every thing works really well, and the next page it all goes to hell.
I think if you are really wrapped up in the subject it is much easier.
I had a teacher when I was a child who would stand there lecturing and doing small magic tricks at the same time. He used them to punch when he came to a really important part. I always remember that course and I think I can repeat it almost verbatim. The magic tricks I cannot remember. He was a really great teacher.
Due on sale, there is very little response from lenders at this time. They may be too busy handling loan requests.
Remember the thing that no one ever speaks about on TCI. You can on assumption of title. Execute a 1003 or some other dumb form, expose your financial statement and ask to assume the loan. If you are qualified, good FICO score, voted Republican, think Bush should be elected to the Trinity you are probably qualified. They may try to charge you a point to cover costs of writing a new name. But wot the hell.
I have assumed loans many many times during the past 40 years. Once they bumped the interest rate. So I informed them that if they did I would have ten of my clients withdraw and cash their max CD's. They stopped and bothered me no more. Gee sure of would have been nice if I actualy had those clients. Ah well when dealing with Lending Institutions you are allowed a few liberties. Right?
Lucius [ Edited by Lufos on Date 02/07/2004 ]
I went through the online course....took me 8 days to buy my first house. The online course took 6 weeks, but if I had all the materials instead of it being spread out over 6 weeks, I probably would have finished it in 2...that's just me though. John Locke teaches this course and his turn around time on a house is no longer than 3 weeks....that's if you bought it correctly, and by correctly I mean the way he teaches it.
I bought my first house incorrectly and it took me 3 months to sell. Hey, everyone makes mistakes....I close on the 19th with this house and I'm looking to net over $20K.
Hey What are capital gains, and how do they affect subject to real estate investing?
Source
think of capital gains as profits. if you buy stock for $1.00 and it went to $5.00, your capital gains would be $4 bucks. So you would pay taxes on the capital gains or in this case, the $4 bucks.
And even though none of us like paying taxes I don't mind paying capital gains tax because they only time you have to pay those is when you make a PROFIT and that makes me happy
Q