its been awhile since ive been on this board.

anyways ive been making full asking price offers through alternatives of owner financing and im able
to get homeowners to sign a non exclusive option with me and market their property to non conventional buyers.

the entry strategy is taking over sub2, using a land trust as a title holding vehicle, and using exit strategies such as
lease to own, wrap, AITD, contract for deed, equity share. im able to take on properties with zero equity because
no one wants them. i see things a lot differently than most investors passing up on their deals that require a significant discount
in order for them to consider it.

the option only costs me $1.00 to get it under contract, and spend about $135 for a 3x10 foot banner that says

TAKE OVER OUR PAYMENTS, AND WE'LL GIVE YOU OUR HOUSE
NO DOWN, NO BANK QUALIFYING, NO CREDIT NEEDED
3 MONTHS PLUS CC AND IT'S YOURS
TAX BENEFITS INCLUDED

are there any other investors here that are active in here doing creative investing?

Hi alvin good to see you're still investing. I find it extremely difficult to find good sub2 deals. Everyone I talk to who wants me to just take over their payments have payments that aren't worth taking over. Usually the house is overleveraged and the payments are way too high to cash flow.

I find much better deals by looking for sellers who have been unable to sell and are considering renting although not yet advertising that fact. These owners are typically not in trouble (yet) and they're easier to deal with because they're not in denial about their situation.

The only problem I run into is that most of them want me to rent from them myself, not sublet to my own tenant/buyer.

Hello Alvin, I've done a couple of these myself. My biggest problem back about 3-4 years ago was the Exit: getting TB's with enough down payment money to make it worth while. It was so typical to get only a couple grand as down as so many potential TB's were qualifying for no money loans back then. In the end, I only had 1 close to a TB. The others left the houses a mess and I usually spent their down payment getting the house back into shape.

Now, the problem is on the Entry. Houses you can take over, like realdealer stated, have ugly loans. They will either be resetting to outrageous interest rates, or they are upside down. I have gone back to straight leases on my houses.

I like lease to owns where I market them as the safe alternative to buying in the current real estate meltdown.