Re: Gatten or Bronchik? - Posted by Brad Crouch
Posted by Brad Crouch on May 10, 1999 at 12:49:43:
Hi Mark!
Long time no see!
I have most all of Bill Bronchicks’ courses, and I also have the materials from Bill Gatten. I have spent a lot of time studying both authors works, and have come to the conclusion they both are great!
Bronchicks’ lease option workshop is an eye opener, especially for those just learning about this concept.
The Gatten stuff is equally good, but in a different way. They are not the same stuff at all, and I can’t see them as “competitors”, although Gattens’ stuff is an alternative method to “traditional” type lease options, and other types of owner financing senarios.
If you have an interest in the PACTrust method of aquisition and disposition of properties, you might want to start out with the book first (less than $20, I believe). If the book motivates you sufficiently, you will want to get more materials. If not . . . well, you’ll know what to do.
Bronchicks’ “How to be Your Own RE Lawyer” (now Nuts & Bolts of RE Transactions) has all the forms I think anybody would ever need (on diskette, too), as well as “lots” of information.
Joe Kaiser’s stuff is also great and assumes you already have some knowledge of lease options. He focuses mainly on targeting the “tired landlord”, and has some terrific strategies for doing that. His method of tenant screening is worth the price of the course, alone.
You undoubtedly have Claude Diamonds’ contracts, and are probably more familiar with them.
Gattens’ materials include contracts on diskette, too. But they are only for the documentation of the PACTrust method, which in my view, is a safer way to go than a “standard” land trust. I like the protections offered by the PACTrust, as well as the ability to work on properties that have little or no equity. That is a big “plus” here in California where so many properties are upside down.
I also like the part about putting each deal on “automatic pilot” so the terms of each PACTrust require no effort beyond the origination of the deal. This isn’t on account of having a “lazy” streak, it’s so that more time and energy may be safely spent on aquiring more deals.
I know Bronchick and Gatten, personally, and am impressed with both of them. Great guys.
Somewhere along the line I became very interested in trusts. The first course I got on this subject was Bronchicks’ and it provided excellent information on the subject. I have studied material on trusts from other sources too, and I have to say, the PACTrust method is extremely intriguing. I like the aspect of compliance with all the laws and regulations. I like the idea of beating the IRS over the head . . . with their own “laws”.
Hope this helps some,
Brad