And I'm back with another of my 101 cash flow accelerators
where we help you to build an amazing StreetSmart real estate business. One of
the things that we've learned over the years is one of the steps in lending to
other people, particularly when you're lending to someone who's living in one
of your homes, is that certainly you could sell that property to them. You
could give them the deed to the property and then when they don't make the
payments on time, you have a problem. And so what can happen is you end up
having to go through foreclosure. Well in some States that's not such a big
deal. In Texas, it's only 21 days. In Georgia it's only 30 days, but in other
States it can be months or even years to get through the foreclosure process.
So what I have you look at and see if it's legal in your state, and I don't
know of any States, it's illegal. So you can do it and there are certain rules
that you have to abide by and we teach you how to do that as well. But in my
owner financing volume 10, one of the documents we have in there is something
called agreement for deed, so rather than giving someone the deed to the
property, we give an agreement for deed. Now it's also known as land contract,
contract for deed bond for Deed, all the same thing. Instead of giving them the
deed, you give them an agreement to get the deed when they finish paying you
off. Yes, they can refinance, they can get a loan from a bank, they can get
their deed at any time. It's just that now you have at least a step in the
process that you don't have to go through the pain and suffering expense and
delay of a protracted foreclosure process at least in some States and it gives
you the opportunity to now have an agreement to give them the deed at a later
date when they do pay you off. Hopefully that's been helpful to you. I've got a
whole explanation of that in the owner finance system. Check it out. Go to
StreetSmartInvestor.com click on tools and we'll have all the information there
for you. Hopefully this has been helpful. Like it. Love it. Share it, and I'll
see you again soon. Yeah, baby.
where we help you to build an amazing StreetSmart real estate business. One of
the things that we've learned over the years is one of the steps in lending to
other people, particularly when you're lending to someone who's living in one
of your homes, is that certainly you could sell that property to them. You
could give them the deed to the property and then when they don't make the
payments on time, you have a problem. And so what can happen is you end up
having to go through foreclosure. Well in some States that's not such a big
deal. In Texas, it's only 21 days. In Georgia it's only 30 days, but in other
States it can be months or even years to get through the foreclosure process.
So what I have you look at and see if it's legal in your state, and I don't
know of any States, it's illegal. So you can do it and there are certain rules
that you have to abide by and we teach you how to do that as well. But in my
owner financing volume 10, one of the documents we have in there is something
called agreement for deed, so rather than giving someone the deed to the
property, we give an agreement for deed. Now it's also known as land contract,
contract for deed bond for Deed, all the same thing. Instead of giving them the
deed, you give them an agreement to get the deed when they finish paying you
off. Yes, they can refinance, they can get a loan from a bank, they can get
their deed at any time. It's just that now you have at least a step in the
process that you don't have to go through the pain and suffering expense and
delay of a protracted foreclosure process at least in some States and it gives
you the opportunity to now have an agreement to give them the deed at a later
date when they do pay you off. Hopefully that's been helpful to you. I've got a
whole explanation of that in the owner finance system. Check it out. Go to
StreetSmartInvestor.com click on tools and we'll have all the information there
for you. Hopefully this has been helpful. Like it. Love it. Share it, and I'll
see you again soon. Yeah, baby.
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