Starting Out In Sub-2
I have been rehabbing houses in NW Indiana and I am looking to invest into some Sub-2's.
I have been reading a lot of endorsements for John Locke's training course. Does this course give techniques on how to find these properties? Does the material include sample forms? Does Locke endorse the use of Land Trust and explain how to set these up and use them properly?
Also, I'd be interested in hearing from anybody that has been investing in NW Indiana in any capacity.
Thanks
ckdonley
ckdonley,
Ye$ to all of your questions, except the last.
He doen't "endorse" using a Land Trust in setting up sub2 deals.
As he has said many times, he has yet to use one in the 500+ sub2 deals he's been involved with.
However, he has told me and his other students to do what is in best interests of the seller and you, the buyer, and to do what you are ultimately comfortable with.
Take care.
Jason
ckdonley,
Glad to meet you.
Since I wrote the material I feel qualified to answer your questions.
Q. I have been reading a lot of endorsements for John Locke's training course.
This is good thing that you can read this is a big help in doing Subject To deals, however it is probably not at the top of list.
If you are from Valpo, then I use to live on McCord Rd next to the farigrounds and is Brownies the local hang out still there?
Q. Does this course give techniques on how to find these properties?
A. Yes, I know exactly who the people are that need our help and I tell you how to find them.
Q. Does the material include sample forms?
A. Yes, but I highly suggest that you have them reviewed by an attorney to make sure they are state specific.
Q, Does Locke endorse the use of Land Trust and explain how to set these up and use them properly?
A. I have a copy of a Land Trust in my material, here again I suggest you have it reviewed to make sure it is state specific. But then again in my over 500+ deals I never used one, never had a DOS called or a problem, so go figure, but if you feel the need to use I do not discourage their use.
John $Cash$ Locke
PS: Thanks Jason couldn't have said it better myself.
[addsig]
John,
Heh, sorry for jumping the gun and answering ahead of ya.
I know you're a busy man.
Just figured I'd answer what I knew, without stepping on anyone's toes.
Later,
Jason
[addsig]
Hello fellow Hoosiers. I am waiting on my Sub2 course as we speak. I'm glad to have read this post to relieve some of the anxiety of the purchase. Just looking into Sub2 and knowing the author is from the area makes me feel more comfortable as to whether it will "work" in this area. CK, I haven't had much experience so far. Just bought a HUD home in Hammond, rehabbed it, now renting with positive cash flow. From everything I've heard there seems to be lots of opportunity out our way. Good luck and feel free to keep me posted.