Re: Risks involved in a transaction - Posted by Bill
Posted by Bill on April 02, 2002 at 22:19:50:
I also need to point out that I have a couple of your courses and I found them to be top notch. You in particular DO point out the risks of any particular investment technique.
However, most do not as is characterized by the article I mentioned in another post.
Re: Risks involved in a transaction - Posted by Bill
Posted by Bill on April 02, 2002 at 21:56:13:
How in the world do you consider what I posted a “Cheap Shot”
All I did was point out that there are articles on this very website that make buying property subject to the loans sound very easy and with minimal if any risk.
Here is another excerpt from that article touting the benefits of Subject to’s and I defy you to find more than the cursory mention of any risks in the entire article.
"Little Risk, Big Rewards
Purchasing homes “subject to” is a creative, fast and financially rewarding way to buy homes. It gives you instant ownership yet you are not legally bound with a lot of loans in your personal name.
We believe with this method of buying homes you can achieve financial freedom with little risk and great rewards. It takes little money to get started buying homes ‘Subject To’ and, remember, when you are able to buy homes with great terms, you can pass on great terms to your tenant buyer, making it easier and quicker to fill homes, and with a greater financial reward to you.
So step out of the box, and step into this exciting way of acquiring property with little or no risk."
Re: Risks involved in a transaction - Posted by JohnBoy
Posted by JohnBoy on April 03, 2002 at 14:42:48:
Sure they promote selling their courses! The question is, do they talk about the risks in their courses? If you buy the course and READ it then I would suspect they will find out about the risks involved. Now if they don’t talk about the risks in their courses then I would agree with this being a problem! Whether they do or not though I couldn’t say since I haven’t seen all the courses. But I have seen Bronchick’s course and he does talk about the risks.
So if someone is foolish enough to run out and try to do these deals on their own without buying the course to educate themselves by trying to wing it on their own, that’s the author’s fault because they read some article or postings on a news group???
If people come here to learn how to do this stuff and they get all caught up in the hype, then isn’t it fair to say they need to take responsibility for properly educating themselves by buying a good course BEFORE just running out and attempting this on their own?
So you tell me? Which courses do you know of for a fact that the author doesn’t tell about the risks and only paints a picture on how these have no risks involved? You can’t expect that from just reading an article! So no, the article doesn’t talk about the risks in detail and mostly talks about how you can do a deal, but it doesn’t provide you with copies of all the proper forms to use either! You NEED to buy the course if you decide you want to pursue doing that type of investing.
Only a fool would just read some articles and some posts on a news group about a subject and then run out and attempt doing them on their own. And if someone is that foolish then you certainly can’t blame the authors because they didn’t go into detail about all the risks in some article or post they made! That would be just plain silly!
Re: Risks involved in a transaction - Posted by JohnBoy
Posted by JohnBoy on April 03, 2002 at 11:47:48:
Those are the questions I would ask you.
You seem to have the answers and when you’re wrong you like to put the spin on everything to back pedal your way out of by trying to hide the fact you were wrong.
Re: Out of Context - Posted by JohnBoy
Posted by JohnBoy on April 02, 2002 at 22:27:31:
What more risk is there by doing subject to’s VS. lease options, contract for deeds, getting your own mortgages, holding rentals, etc.???
The financial risks are all pretty much the same. A lender can call a loan for doing a L/O or contract for deed just as easy as doing a subject to. Although the it “might” be less likely using the other methods, it’s also less likely they would even ever find out about a subject to deal!
Re: Risks involved in a transaction - Posted by GL(ON)
Posted by GL(ON) on April 03, 2002 at 12:02:52:
Sounds like you are spinning out in left field. Have you started receiving radio messages from Jupiter over your bridgework yet?