Sunday, March 30, 2008

How To Sell Any House in 36 Hours Nathan Big

Tuesday, March 25, 2008

QuickBooks For Real Estate Investor Training Videos Unlimited Access On Thursday!

I have been bombarded with requests
to access recording replays of Saturday's training.

Your Answer is YES, YES, YES!!

24 hr anytime access to Saturday Training Replays

====================================
Register Now! Get 24 access QuickBooks Videos

>>> beginning 6am Thursday to 6am Friday

For ONLY $99

https://m128.infusionsoft.com/saleform/niulrhnat
(copy and paste into browser)

=====================================



Just for you, and your staff...
24 hour accessunlimited replays allow
you and your staff to
Rewind, Pause, Fast Forward AND
WATCH Them OVER AND OVER AND OVER

The replay will be available on Thurs, Mar 27
beginning at 6am est and will be up and running
all the way through the day and night tilll 6am Friday.

You will get an email at 5:30am Thursday
morning with access to this special web page.


Online Training This Thursday!
for you and your Real Estate Team!

QuickBooks For Investors
WATCH These Training Videos
as many timesyou want and A
NYTIME You Want!

Rewind, Pause, Fast Forward... Over and Over!
====================================
Register Now! Get 24 access to BOTH Sessions
>>> beginning 6am Thursday to 6am Friday

Unlimited Replays For ONLY $99


https://m128.infusionsoft.com/saleform/niulrhnat
(copy and paste into browser)

=====================================


Make sure you are one of the 1st 100
investors to register now
There are only 100 slots for this online training!


As one of the first 50 to Register,
you will getan extra gift, the complete
Rental Application Packageof forms in
both Microsoft Word and in pdf format.


You will get this whole package with
instructions andguidelines on how to
process applications...

and You Get an extra $500 bonus
from Mike Butler for being serious about your business.
QuickBooks Pro Trainingfor Real Estate Investors!
====================================
Register Now! Get 24 access to BOTH Sessions
>>> beginning 6am Thursday to 6am FridayFor ONLY $99

https://m128.infusionsoft.com/saleform/niulrhnat
(copy and paste into browser)

=====================================


Register
Your Bookkeeper,
Your Accountant
your CPA
your office manager!

includes Q&A at the end of each session!

---------------------------------------------------
Discover how Simple and EZ it is to

-- set up your "Chart of Accounts"

- Pay Bills and Make Bank Deposits

- Enter a HUD 1 Closing Statement in 4 minutes FLAT!

- Enter a property when buying, selling, trading

- Keep Track of Rehabs, just push a button

- Set up a Cash Flow Report by Property and by owner

- Remove all of your tax time headaches

- put house payments and more on autopilot!

- Capture every red cent on expenses!

- Make cash purchases of repairs and supplies brain dead simple

- Multiple entities, owners, and properties

- this is the simple system allowing you to Keep Your Finger on the pulse of your business, your cash flow and your investments!

this system allows you to achieve your real estate investing goalsno matter how huge or small, YOU MUST have this system to keep it all together in a simple and push button manageable system!


Who should attend this training?

- Real estate investors

- Rehabbers

- wholesalers

- Brokers with agents

- Retailers

- Your bookkeeper

- Your Office Manager and Accounts Payable

- Your CPA and your accountant!

- CPA and accountants who work with investors

- Bookkeepers who work with investors


====================================

Register Now!
Get 24 access to BOTH Sessions
>>> beginning 6am Thursday to 6am Friday

For ONLY $99
https://m128.infusionsoft.com/saleform/niulrhnat
(copy and paste into browser)

=====================================

+++++++++++++++++++++++++++++++++

Session 2 (two videos)
+++++++++++++++++++++++++++++++++

How To:

- Enter a New Tenant and Loan Customer
- Set Up auto-monthly billing of rents and more
- Late Charges and Notices made simple
- Tenant Turnovers including evictions
- Work Orders and Maintenance Requests including how to get your tenants to Pay You for tenant chargeable repairs!
- Loan Customers and Payment Plans
- Document public vs. private notes
- Get MORE than 100% of Your Rents Now!
====================================

Register Now!
Get 24 access to BOTH Sessions
>>> beginning 6am Thursday to 6am Friday

For ONLY $99

https://m128.infusionsoft.com/saleform/niulrhnat
(copy and paste into browser)

=====================================

Who Should Attend This QuickBooks Session?

+++++++++++++++++++++++++++++++++++++
- Landlords
- Property Managers
- Hard Money Lenders
- Real Estate Investors
- Investors who have Lease/Options
- Investors who do Rent to Own
- Commercial Investors
- Residential Investors
- Apartment Community Investors

QuickBooks Pro for Real Estate Investors!
====================================
Register Now!
Get 24 access to BOTH Sessions
>>> beginning 6am Thursday to 6am Friday

For ONLY $99
https://m128.infusionsoft.com/saleform/niulrhnat
(copy and paste into browser)

=====================================

See You On The Net!
Mike Butler

P.S. Stop banging your head against a wall tryingto figure out how to use QuickBooks for your real estatebusiness. Did you know investors are usingthis simple money making and time saving systemin all 50 states, england, canada, and singapore!Check it out, this will make your investing systemso much more simpler and more profitable!

It can not get any simpler than this!Imagine rewind, pause, replay, fast forward!


=======================================

RECORDING REPLAY DETAILS

=======================================

Both Saturday sessions are recorded.
at 6am est on Thursday, March 27

These replay recordings will allow you to rewind,fast forward, and pause the replay.
The replay recordings will be available on thisspecial hidden web page for 24 hrs.
After all of the feedback from investors about theinconvenience of the saturday sessions and theHUGE request for recording replay during weekdaybusiness hours (and evenings)... This was decidedto be the best fix for all investors!

Now you can stop banging your head against thewall trying to figure out how to use QuickBooks!

====================================

Register Now!

Get 24 access to BOTH Sessions

>>> beginning 6am Thursday to 6am Friday

For ONLY $99
https://m128.infusionsoft.com/saleform/niulrhnat
(copy and paste into browser)

=====================================
And if you are still reading this, rememberyou get a $500 bonus just for registering!and a special The Rental Application Packageof forms!

Wednesday, March 19, 2008

QuickBooks For Real Estate Investors Online Training

Hello Mike,

We have been bombarded with requests to access recording replays of this cominig Saturday training.

Your Answer is YES, YES, YES!!

24 hr anytime access for you and your staff
will begin 6am est Tues, Mar 25

-- see the replay details at the bottom

====================================

Register Now! Get BOTH Sessions
>>> And access to 24 hr anytime replay on Tues Mar 25.
(you must register now to access tuesday replay)
BOTH Sessions and Replays
For ONLY $99

https://m128.infusionsoft.com/saleform/niulrhnat
(copy and paste into browser)

=====================================



Just for you, and your staff...

there will be a 24 hour access anytime replay
available to all who register for this training.

The replay will be available on Tues, Mar 25

All registrants will get an email early Tuesday morning
with the special web page to accessthe replay of the saturday training sessions.

Online Training This Saturday for you and your Real Estate Team!

QuickBooks For Investors

====================================

Register Now! Get BOTH Sessions
>> And access to 24 hr anytime replay on Tues Mar 25.
(you must register now to access tuesday replay)
For ONLY $99

https://m128.infusionsoft.com/saleform/niulrhnat
(copy and paste into browser)

=====================================

"Interactive" Online Training!
Two Sessions On Saturdayjust for Investors!
(LISTEN using your phone!
WATCH on your computer screen)

Make sure you are one of the 1st 100 investors to register now
for not one, But TWO, ONLINE training sessions!!

There are only 100 slots for this online training!

Make sure you are one of the first 50 to Register
and you will get our complete Rental Application Package
of forms in both Microsoft Word and in pdf format.

You will get this whole package with instructions
and guidelines on how to process applications...

you will get this for free!and

You Get Your Very Own $500 Special Gift just for you
QuickBooks Pro Training for Real Estate Investors!

====================================
Register Now! Get BOTH Sessions
>> And access to 24 hr anytime replay on Tues Mar 25.
(you must register now to access tuesday replay)
BOTH Sessions and Replays
For ONLY $99

https://m128.infusionsoft.com/saleform/niulrhnat
(copy and paste into browser)

=====================================

Register Now
Register Your Bookkeeper,
Your Accountant
your CPA
your office manager!
includes LIVE interactive Q&A at the end of each session!

---------------------------------------------------
Session 1
Saturday, Mar 22, 2008
Time: 10am - 1pm est
(9am - 12n Central) (8am - 11am Mountain) (7am - 10am Pacific)

====================================
Register Now! Get BOTH Sessions
>> And access to 24 hr anytime replay on Tues Mar 25.
(you must register now to access tuesday replay)
For ONLY $99

https://m128.infusionsoft.com/saleform/niulrhnat
(copy and paste into browser)

=====================================

Discover how Simple and EZ it is to
-- set up your "Chart of Accounts"
- Pay Bills and Make Bank Deposits
- Enter a HUD 1 Closing Statement in 4 minutes FLAT!
- Enter a property when buying, selling, trading
- Keep Track of Rehabs, just push a button
- Set up a Cash Flow Report by Property and by owner
- Remove all of your tax time headaches
- put house payments and more on autopilot!
- Capture every red cent on expenses!
- Make cash purchases of repairs and supplies brain dead simple
- Multiple entities, owners, and properties
- this is the simple system allowing you to Keep Your Finger on the pulse of your business, your cash flow and your investments!

this system allows you to achieve your real estate investing goals no matter how huge or small, YOU MUST have this system to keep it all together in a simple and push button manageable system!

Who should attend this training?
- Real estate investors
- Rehabbers
- wholesalers
- Brokers with agents
- Retailers
- Your bookkeeper
- Your Office Manager
and Accounts Payable
- Your CPA and your accountant!
- CPA and accountants who work with investors
- Bookkeepers who work with investors

===============================
QuickBooks for Investors!
Register Now! Get BOTH Sessions
>> And access to 24 hr anytime replay on Tues Mar 25.
(you must register now to access tuesday replay)
For ONLY $99

https://m128.infusionsoft.com/saleform/niulrhnat
(copy and paste into browser)

-------------------------------------------------

Session 2
Saturday, Mar 22, 2008
Time: 1:30pm - 5:30pm est
(12:30pm - 4:30pm Central) (11:30am - 3:30pm Mountain) (10:30am - 2:30pm Pacific)


How To:
-->> Enter a New Tenant and Loan Customer
-->> Set Up auto-monthly billing of rents and more
>> Late Charges and Notices made simple
>> Tenant Turnovers including evictions
>> Work Orders and Maintenance Requests including how to get your tenants to Pay You for tenant chargeable repairs!
>> Loan Customers and Payment Plans
>> Document public vs. private notes
>> Get MORE than 100% of Your Rents Now!

====================================

Register Now! Get BOTH Sessions
>> And access to 24 hr anytime replay on Tues Mar 25.
(you must register now to access tuesday replay)
For ONLY $99

https://m128.infusionsoft.com/saleform/niulrhnat
(copy and paste into browser)

=====================================

Who Should Attend This QuickBooks Session?
- Landlords
- Property Managers
- Hard Money Lenders
- Real Estate Investors
- Investors who have Lease/Options
- Investors who do Rent to Own
- Commercial Investors
- Residential Investors
- Apartment Community Investors
QuickBooks Pro for Real Estate Investors!

--------------------------------------------------
Register Now! Get BOTH Sessions
>> And access to 24 hr anytime replay on Tues Mar 25.
(you must register now to access tuesday replay)
For ONLY $99

https://m128.infusionsoft.com/saleform/niulrhnat
(copy and paste into browser)

---------------------------------------------------
Mike Butler
_________________________________________

P.S. Stop banging your head against a wall tryingto figure out how to use QuickBooks for your real estatebusiness. Did you know investors are usingthis simple money making and time saving systemin all 50 states, england, canada, and singapore!Check it out, this will make your investing systemso much more simpler and more profitable!
=======================================
RECORDING REPLAY DETAILS
=======================================

Both Saturday sessions will be recorded.at 6am est on Tuesday, March 25, all who have registered for the Saturday sessions will receivean email containing a special hidden web pageto access both replays at anytime.These replay recordings will allow you to rewind,fast forward, and pause the replay. The replay recordings will be available on thisspecial hidden web page for 24 hrs.After all of the feedback from investors about theinconvenience of the saturday sessions and theHUGE request for recording replay during weekdaybusiness hours (and evenings)... This was decidedto be the best fix for all investors!Now you can stop banging your head against thewall trying to figure out how to use QuickBooks!

--------------------------------------------------

Register Now! Get BOTH Sessions
>> And access to 24 hr anytime replay on Tues Mar 25.
(you must register now to access tuesday replay)
For ONLY $99

https://m128.infusionsoft.com/saleform/niulrhnat
(copy and paste into browser)

---------------------------------------------------

And if you are still reading this, rememberyou get a $500 bonus just for registering!

Wednesday, March 12, 2008

Real Estate Investor Website Tips

Here is a Fantastic Article with great information from Dan Stojadnivoc of 5mWebsites.com and 5mPassiveIncomeGenerator.com

-------------


Dan Stojadinovic here. I do mentoring for a few hundred entrepreneurs, mainly real estate investors, and one of the top questions I get is what are some of things Google wants in my web site. This is a great question, and I'll cover this in great detail at the spring bootcamp, but here are a few of them to get you started right away:

1. Use Meta Tags.
In your web site add these 3 tags: Title, Description and Keywords. I bet 99% of web sites don't have all 3. Also don't pile on a million keywords in the meta tag. On your pro package websites we put a button for the meta tags, just click on it and enter it, and the third

2. Get listed in search engines and local directories.
I know this is obvious, but I'm amazed when I speak at seminars, REIA Groups and Bootcamps around the country how many people don't do it. Don't forget to list your business in local.google.com and other local search engines.

3. Quality related links.
There are charlatans who send out emails to sell you a service to give you a million links to your site. This is a black hat tactic you should stay away from it. You need links back to your site from sites that relate to what you are doing. You don't want a link to your real estate site from a fishing or race car site. Also links from authoritative sites are good as well, blogs etc...

4. Have unique copy on your site.
There are scammers who go to seminars and sell web sites to thousands of people WITH IDENTICAL TEXT AND DON'T ALLOW YOU TO CHANGE IT. You need to make sure you can edit and change your copy when you want to, so it's unique.

While you are at it make sure your copy works and gets people to convert. It's a lot better to have an ugly site with good copy than a great looking site with bad copy (most entrepreneurs think it's the other way around).

5. Get the right keyword density.
Most people think if they place the keywords all over the copy over and over again they will show up #1 on Google. Not true. You need to have a reasonable density about a few times in each 100 words (not more then 5 times). Also make sure you have the keyword at least 2 times in the first paragraph of your site. Also use the local keywords, your town, your neighborhood, etc, which identifies in the web site text.

Once of my clients was lucky to live in a unique named city and used it in the text and meta tag, when you searched with that geo tag he came up on the first page of Google within just a few months of doing this. I'll go over this in detail at Mike Butler's LIVE Investor Training events. It's very powerful.

6. Refresh the contact at a slow pace.
Google wants to know there is a human behind the web site. So make sure you add or replace stuff periodically.

This should get you started I'll go over a lot more at Mike Butler's LIVE Investor Training.

Also I wanted to mention Web 2.0 and Social Networking is going to be critical in making money online.

Tell Mike I invited you.


Also, we got a phone call from anther 5mWebsite client who just sold a house using the website to auction the house using the round robin method. This works!

PS: If you have a starter package and want to upgrade to pro and attend my bootcamp for free in April, please click on the link below:

http://www.5mWebsites.com

Dan Stojadinovic

----------------------------------

Saturday, March 8, 2008

QuickBooks For Real Estate Investors Online Training

QuickBooks
For Real Estate Investors
Investor Books ♦ Tenant Tracking
-----------------------------------------------------
"LIVE" Online Workshop
Saturday, March 22, 2008
10am - 5pm est

TWO Sessions! ONLY $99
-----------------------------
Investor Books
10am-1pm est
-----------------------------
Tenant Tracking
2pm - 5pm est
----------------------------

ONLY 100 Slots Available!
PLUS the first 50 Registrants Get A $500 Bonus!
37 have registered so far

Register Now at
http://www.mikebutler.com/qb0322.htm
(copy and paste into your browser)


Investor Books 10am-1pm est
-------------------------------------
Investors who Wholesale, Retail, Rehab, Hard Money Lenders, Landlords, Residential, Commercial, Mobile Homes, Mini-Storage, Brokers/agents, IRAs & more!

Watch and learn QuickBooks in Action
to Discover How To:

- Capture every red cent on expenses including credit cards, cash purchases, & personal loans!
- Use Post Office for your “Chart of Accounts”
- Enter a real HUD 1 (closing statement) on a purchase, sale, refinance, or 1031 in 4 minutes!
- Email your “books” to your CPA at tax time!
PLUS Dozens Of Push Button Investor Reports

----------------------------------
Tenant Tracking 2pm - 5pm est
-----------------------------------
Watch and See QuickBooks In Action
How Simple and Easy It Is To:
- Enter a New Tenant and Loan Customer
- Set Up auto-monthly billing of rents and more
- Late Charges and Notices made simple
- Tenant Turnovers including evictions
- Work Orders and Maintenance Requests including how to get your tenants to Pay You for tenant chargeable repairs!
- Loan Customers and Payment Plans
- Document public vs. private notes
- See How to Get MORE than 100% of Your Rents Now!


Learn From Home!
While Sitting In Your Big EZ Chair In Your Pajamas!

No Hard, uncomfortable chairs, No Cold Hotel Room!
You SAVE with No Travel, No Airport, No Hotel!
----------------------------------------------------------
"LIVE" Interactive and You Can Ask Questions Just Like A Real Classroom!
All You Need Is Your Phone and the Internet!
-----------------------------------------------------------

Register Now at
http://www.mikebutler.com/qb0322.htm
(copy and paste into your browser)


How Does It Work?

Your "LIVE" interactive online training session and classroom is a tele-seminar AND a video-webcast, BOTH at the same time!

You will WATCH the class on your computer monitor (you must have internet access) and you will LISTEN using your telephone by dialing in to a special phone number with a access code.

Mike Butler is your trainer and instructor and has created the best and simplest complete system for investors using QuickBooks Pro. Mike Butler did it for his very own real estate business beginning back in the early 90's and investors all over the world and in all 50 states are using his amazingly simple 5m Wealth Autopilot System of Investor Books and Tenant Tracking.

Make sure you grab your seat right now as these very limited training sessions always sell out.

-------------------------------------------
Who is this Training For?

This training is for all real estate investors.
Absolutely anything you could imagine a real estate investor getting involved in:
- Wholesalers
- Retailers
- Buy, Fix Up, and Retail
- Property Managers
- Landlords
- Single Family Houses
- Duplexes, Tri-plexes, Quads
- Apartments and Apartment Communities
- Residential Investors
- Commercial Investors
- Mini-Storage
- Mobile Homes and Trailer Parks
- Office Buildings, Strip Centers, and Industrial
- Developers and Builders
- Hard Money Lenders
- Contract for Deed, Land Contracts
- 1031 Tax Deferred Exchanges
- ROTH IRA investors
- Brokers / Agents
- Rent with Option to Buy or Rent To Own
- Lease / Options
- Options
- Seller and Owner Financing
- Multiple Entities, Owners, and Properties
- Out of Town investors

Register Now at
http://www.mikebutler.com/qb0322.htm
(copy and paste into your browser)


Who should attend and which session should they attend?

The morning session on Investor Books is for the owner investor, cpa, accountant, and bookkeeper. Those folks who will be paying the bills and making bank deposits. This session focuses on what you own, what you owe, and income and expenses.


-----------------------------
The Tenant Tracking session in the afternoon is for landlords, property managers, office managers, and those folks who are the front line in dealing with your tenants and loan customers.
--------------------------------------
"I just wanted to tell you that using your Tenant Tracking Module
has helped me get OVER 100% of my rents/mortgages
in a just a few months. It is GREAT! Thanks again!
Melissa Sanchez, Kyle, Texas

-----------------------------------

Hello Mike,

Yes I did. Actually the damages exceeded $8,000 according to your guide, however I need an attorney present to get more than $6,000 in small claims court in Oklahoma.

Defendants failed to appear at court.

The judge looked at the gruesome pictures and then the price sheet. He asked if that is what I use for all tenants and I said yes. Then he simply said judgment for plaintiff plus costs. Your price sheet was instrumental in getting the judgment. It showed him exactly what it was going to cost for each item and the pictures backed up the fact that it needed to be done. It worked perfectly. Now I just need to collect.
My actual costs to rehab ended up being about $2,100. Hey... I'm cheap.

I now keep pictures saved to disc of before lease and after lease, if needed, pictures. The before pictures I take when I am actually signing the lease with the tenant and snap a picture or two of the actual tenant in the house for extra proof to the judge in case it goes to court and the tenant decides to lie about that not being the house she lived in or something. It is an extra step that may not be needed in most cases, but it only takes a few minutes. I have several rentals in a war zone so I need everything I can get.

Quick version of the lady I rented to.

The lady that I rented to was on social security and her finance was a mechanic. They both checked out fine and they had the income. Well, this lady found a way to get her kids out if the house. Sign a lease with me and allow her 21 year old son to watch over the 3 teenage daughters at MY house.

This of course is NOT what was supposed to take place.

They lived their from Nov -05 to April -06 They were paying on time. I had a call for a clogged kitchen sink so I dispatched my plumber. I then received a call from my plumber saying that the tenants were tracking in motor oil on the carpet and the house was a disaster. The sink was clogged because they dumped macaroni, pancake batter and bacon grease down the kitchen sink that has no disposal.

Once I saw what was happening I started the eviction process for not abiding by the terms of the lease. They were able to move out within the notice to quit time frame and that is why they do not have an eviction on public record. Just a small claims judgment which now sits with my collections attorney.

Additionally, I alerted another fellow investor that has rentals in the same area NOT to rent to them. These tenants DID apply with him and were very much denied after my conversation.


Below is a link to the court case and judgment. I have the actual papers if you want to see them. Let me know.


http://www.oscn.net/applications/ocisweb/GetCaseInformation.asp?submitted=true&viewtype=caseGeneral&casemasterID=2019326&db=Oklahoma

You may use this information as a testimonial if you wish.

Thanks
Allen Moore

P.S. FYI, had I used my old system, (creating my own punch list with receipts and a lot of grief), this would've been about a $1,200 in damages using my old thought-I-had-a-system. NEVER AGAIN... Mike's Move Out Package is worth it's weight in gold!

Register Now at
http://www.mikebutler.com/qb0322.htm
(copy and paste into your browser)

Tuesday, March 4, 2008

eBrief Update and ODV is just released!

Here is a short eBrief Update!
-------- 48 Hours -------------------

Paul Wells gave tons of great info
last night on how to get big checks
without money, almost no time
and a no-brainer system in today's
huge foreclosure market.
>>> his secret is junior liens...

>>>> For 48 hours, you can view
his encore presentation on his unique
system at:
http://www.mikebutler.com/paulwells.htm
(copy and paste into your browser)
==================================

>>> QuickBooks For Real Estate Investors!<<<
Full Day Live Training
>>> 11 Seats Left!! <<<<<
Thursday, March 13, 2008
Register Now for ONLY $99
http://www.MikeButler.com
(copy and paste into your browser)
------------------------------------------------------

===== Make Your 1st Million =========
>>> Only 7 Seats Remain <<<<<<
3 Day LIVE Investor Training
March 14-16, 2008
includes Sat House Tour Making Offers!
http://www.m1mTraining.com
or
http://www.mikebutler.com
(copy and paste into your browser)
-----------------------------------------------------


===============================
GOLD Member CHALK TALK tonite 9pm est
60 minute interactive Coaching Session!
------------------------------------------------------

>>>> Brand New ODV just released<<<<
ODV (on demand video) training videos
are short, concise, to the point, 3-5 minute
videos showing you exactly "How To" using
Quickbooks for real estate investors.

Available online 24 hours, On Demand Videos
Check it out at
http://www.mikebutler.com/products.htm
(copy and paste into your browser)
===============================

>>>> Limited Offer <<<<<<<
Get Your Very Own Investor Website
Grab Your Certificate and turn it on now at
http://www.5mWebsites.com
(copy and paste into your browser)
==============================

Real Estate Investor Friendly 5mWebsites Free for 30 Days!

How to Double and Triple Your Rents

MySpace and Sclipo

Sunday, March 2, 2008

Discover New and Hidden Online Investor Tools for Easier and Bigger Profits

Monday, March 3, 2008

9:00 PM - 10:00 PM EST

Join Me Monday, March 3 at 9pm et

MARK YOUR CALENDAR!

Join me and my good friend and special high tech Expert, Colin Andrews Egbert for 60 Profit Powered minutes of real investor training on literally dozens of FREE online tools to help YOU immediately achieve more efficient time savng money making tips and short cuts for today's super successful real estate investor!

Heads Up!

Make sure you bring your good ears
so you can "LISTEN FAST" to Colin's HIGH ENERGY Fast Paced intense training.

This Guy has only ONE GEAR... OVERDRIVE to the MAX!

Profit to the Max and he has the track record to prove it in his hometown in Columbus.
Colin is CEO and Co-Founder of a great online resource for investors much similar to MySpace, FaceBook and all of those things we just hear about on TV and the news!

Colin Andrews Egbert has been featured at local universities as a marketing and investor expert and brings a fresh new youthful and unique techniques for investing in real estate today.

From buying, wholesaling, and even retailing,
this guy is on top of the online tools to GET RE$ULT$$$$.

Make sure you join me and Colin Andrews Egbert Monday night for this special 60 minute training session.

Round up several ink pens and pencils and plenty of paper because you will be jotting down all kinds of notes, places and resources you never heard of before listening to Colin Andrews Egbert!

--------------------------------
60 minute LIVE Teleseminar
AND VideoWebCast
BOTH At The Same Time!
---------------------------------
LISTEN on your phone!
WATCH on your computer (with internet access)
--------------------------------

You MUST Be Registered to access any replay
(but only if it is recorded successfully)
--------------------------------

STOP wasting YOUR Time, Energy, Effort and Money
on investing the old fashioned way.
Invest 60 minutes Monday night to brand new creative
and proven tips to make your life easier and FUNNER!!

-------------------------------------

Reserve Your Slot Now at:
https://www2.gotomeeting.com/register/221100288


Keep On Cranking It!
Have a Great and Succe$$ful Day!

Mike Butler



P.S. Mike, invest 60 minutes Monday night with Colin Andrews Egbert and you will be flabbergasted at all of the already in place, ready to go right now, online tools to make your investing life a lot more simpler.

(Plus, Colin will be doing a special after dinner session at the Make Your 1st Million 4 Day LIVE investor training in my hometown, Louisville, Ky on March 14.
==================================




WealthBuilding 24-7 4012 Dupont Circle #203 Louisville, KY 40207 (502) 526-0347 www.MikeButler.com www.5mWebsites.com www.VistaTravelStore.com

Saturday, March 1, 2008

Contract For Deed vs. Lease / Option

  • Here is an excellent article from my attorney Harry Borders and attorney Jenny Fields with Borders and Borders Attorneys



    I. LEASE OPTION VS. CONTRACT FOR DEED



    1. Contract for Deed: With a contract for deed, the title transfers to the purchaser upon the execution of the contract for deed. The seller is in effect acting as a mortgage company. A contract for deed is typically used when the seller has an existing non-assumable mortgage on their property.



    A. Advantages of Contract for Deed for Buyer:

    i. Appreciation of the property

    ii. Tax benefits of home ownership

    iii. Lower closing costs

    iv. Can purchase a house even with bad credit



    B. Advantages of Contract for Deed for Seller:

    i. Seller now has someone else responsible for the house payments

    ii. Reduced liability since the seller no longer owns the house

    iii. Quick closing

    iv. Stops the financial bleeding of owning potentially two houses.

    v. Buyers often will pay more money if C for D.



    C. Disadvantages of Contract for Deed for Buyer:

    i. Interest rate is typically higher than conventional financing

    ii. If contract for deed is not recorded, any liens against seller would affect the property (therefore, its best from buyer’s perspective to record the contract for deed).

    iii. Risk of “due on sale” clause. Most mortgages have a due on sale clause that says if the seller sells the property, they must pay the loan off. With a contract for deed, we are selling the house and NOT paying the loan off. If the lender learns of the sale, they could force the buyer to either refinance the debt (which is probably going to be difficult, or the buyer would have simply gotten their own financing in the first place), or sell the house.

    iv. Risk of seller not making their payment to their lender thus resulting in the property being foreclosed upon.

    D. Disadvantages of Contract for Deed for Seller:

    i. Seller does not get a release of liability under their original note. Therefore, if buyer stops making their payments, the seller still must make their payments to their lender or they will have a foreclosure on their record. Therefore, if possible, seller should try to get a large downpayment from the buyer.

    ii. Since the seller’s loan has not been paid off, this debt still shows up on the seller’s credit report which could cause them problems when they are trying to get a new loan.

    iii. If buyer stops making payments, the only way to get the buyer out of the property is to file for a foreclosure. This will take 8-12 months to complete.

    iv. Risk of buyer damaging the house if seller gets house back later.

    E. Other Issues with Contract for Deeds:

    i. Have buyer go to L.O. to clean credit and tell how long until they can obtain a loan.

    ii. Length of time for C for D. Not too long.

    iii. If seller has no mortgage, straight owner financing, not C for D.

    iv. Use GLAR contract and modify it for C for D contract.

    v. Escrow for taxes and insurance?

    vi. Insurance options: 1) double insure; 2) add buyer as additional insured.

    vii. Run title exam and have actual closing.

    viii. Seller to have credit check on buyer.

    ix. Seller to get BIG downpayment.

    x. Agent MUST have parties sign Agency Disclosure forms.

    xi. Who pays for repairs? Typically buyer, but spell it out.

    xii. If buyer wants to sell during term of C for D, both buyer and seller must sign the listing agreement.

    xiii. Does agent have liability if loan called due? NO, if agent fully discloses the risks to the buyer and seller. But, isn’t this “wrong” to do? No, it’s a calculated risk.



    2. Lease Option: With a lease option, the seller does not transfer legal title to the property to the buyer. Rather, the buyer has a lease on the property with an option of purchasing the property at a set price at a later date.

    A. Advantages of Lease Option for Buyer:

    i. Buyer gets a house that they could not otherwise afford.

    ii. Buyer has set the price at today’s value therefore, should benefit from the property appreciating.

    iii. Lower fees than a traditional closing.

    iv. If buyer has bad credit, they may still be able to get into a home.

    B. Advantages of Lease Option for Seller:

    i. Seller has income to help pay their mortgage payments on the house.

    ii. Some of the liability now goes to the buyer.

    iii. Seller retains the tax benefits of home ownership.

    iv. House is now occupied and therefore, the insurance rates are lower.

    v. Typically, the buyer is now responsible for making the repairs to the house (this is typically not the case with a simple lease with no option to purchase).

    vi. Stops the bleeding for the seller owning two houses.

    C. Disadvantages of Lease Option for Buyer:

    i. No tax benefits for the buyer.

    ii. Easier for the seller to get the buyer out of the house.



    D. Disadvantages of Lease Option for Seller:

    i. Seller is still on the loan and therefore still responsible for payments if the buyer fails to make payments.

    ii. Seller still has some liability in the event of an accident at the property.

    iii. Seller may have to sell the property again if buyer does not exercise their option to purchase.

    iv. If seller gets the house back, buyer may have damaged the house.

    E. Other Issues with Lease Option:

    i. Lease AND Option, NOT a lease option form. And, don’t make it look too much like a contract for deed. Otherwise, seller must foreclose on buyer, not simply evict.

    ii. Have buyer go to L.O. to clean credit and tell how long until they can obtain a loan.

    iii. Length of time for lease and option. Not too long.

    iv. Use GLAR lease and separate option contract.

    v. Who pays taxes and insurance?

    vi. Run title exam.

    vii. Seller to have credit check on buyer.

    viii. Seller to get BIG downpayment.

    ix. Agent MUST have parties sign Agency Disclosure forms.

    x. Who pays for repairs? Typically buyer, but spell it out.

    xi. If buyer wants to sell during term of C for D, both buyer and seller must sign the listing agreement.

    xii. Record a copy of the option to keep seller from selling to someone else.



    3. Commission Issues: Obviously, with a lease option or a contract for deed, the Realtors would like to get 100% of their commission at the time of the execution of the lease option or the contract for deed. However, since the seller is not typically getting all of their equity at the time of execution and since the seller still has liability under their original promissory note on the property, it is not unusual for a seller to prefer to pay the commission at the time their promissory note has been paid in full, not upon the execution of the lease option or contract for deed. In this event, it is critical that you discuss the situation with your broker. Whatever decision you and your broker come to about the payment of the commission, you must put in writing the terms of the payment of the commission and have the seller sign agreeing to pay according to these terms. One agent acts as property manager during the term of the lease option or contract for deed and collects 10% of payment and applies to his commission at the time he is paid in full.
  • article prepared and presented by Harry Borders and Jennifer Fields.
  • Borders and Borders Attorneys
  • 920 Dupont Road, Louisville, KY 40207
  • (502) 894-9200