Posted by JPiper on May 31, 2000 at 22:20:21:
Woolley wrote a course setting forth his method. However, I didn’t buy that particular course, so I doubt I could relay it accurately.
The course I did buy was Woolley’s Private Banker course…which described how Woolley used private investors to fund his deals. To me that was the major key to Woolley’s technique. That particular course described how Woolley went about building his network of private investors (bankers).
He then bought under market…as I recall in the 80%-85% LTV range as established by an appraisal. If I’m not mistaken he sold with a lease/option…he may also have sold with various forms of owner financing.
As I say, I didn’t buy the course that set the entire technique out, so I’m unable to describe it fully, or perhaps even particularly accurately.