No seller is going to do that!!!

I have been doing a lot of traveling in the past couple of months to work with various students. Not too long ago, I was in Ottawa working with a student to help them find a lawyer to work with. One of the major first steps in setting up your creative real estate business is finding the right professionals to work with.

As we met with one lawyer, I began to describe a subject to deal, where I take over ownership of a piece of property and leave the existing mortgage (in the seller’s name) in place. I described how the process worked and how I used a land trust to hold ownership of the property. After finishing the description, the lawyer found it interesting, but laughed. He then said that there was no way any seller would ever do that!

He went on to tell me that the market was so hot, that nobody would be “stupid enough” to do a deal like that with me, when they knew that they could sell the house quickly on their own! I tried very hard to hold back a smile, but couldn’t. I have done subject to deals all over the US and Canada in all sorts of markets. I have done several in Ontario. In fact, I have done several in Ottawa, where he was telling me it was impossible!!!

When you are first getting set up to do this business, you will hear all sorts of negativity from seemingly VERY intelligent people who seem to be very experienced in real estate. I have lost count of the number of lawyers, mortgage brokers, realtors, and other real estate professionals who tell me that the deals I describe cannot be done or are even illegal! NOTHING I do is illegal and all my deals are closed with a lawyer in a LEGAL manner! I don’t do any “under the table” deals or “fudge paperwork” to make a deal happen.

I have put countless hours of legal research into my paperwork and deal structure. Not only that, but one of the main reasons I do so much traveling around is to PERSONALLY test what I teach in new areas! This is the only reason I feel qualified to teach others. I can say with certainty that these deals will indeed work where YOU live!!!

The bottom line is this- You can expect a lot of negative feedback from professionals or even friends and family when you first describe these crazy “creative” deals to them. However, I can personally guarantee you that if you are doing them as I teach in my courses, seminars and videos, they do indeed work where YOU live!

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