Real Estate Gurus Help(inverse Purchase)

[notorious_mem]

[ Has anyone heard of the inverse purchasing system by john alexander? Its a house flipping technique, you put a house on contract then flipp the house to "credit challenged" clients at closing.

[notorious_mem]

anyone?

[notorious_mem]

I would like to know if anyone on this board has come in contact with the John Alexander Inverse Purchase System. This is how it works
system is this:
1) Locate a FSBO
2) Negotiate a deal with the seller.
3) sign contract including clauses that allow you to show the house. Also have seller sign investor's disclosure notice.(states how you are going to make your money between what you buy the house at and for what you sell it at.)
4) Show the house 2x per week for 2 weeks
5) Take mini cred apps from sub prime buyers
6) Send them to your sub-prime mort broker
7) Get one under contract (the one most qualified to buy house) for full Appraised value
8.) Send seller an invoice that the seller signs agreeing to pay investor the diff between his purchase and the appraised value and works as a contract release.
9) Fax seller copy of investor's contract with end-buyer
10) End buyer and seller go to close.
11) Title company or closing agent sends you a check.

[stuball]

I dont know bro, but save you money unless you a contractor you gonna get f'd..

[notorious_mem]

I dont know bro, but save you money unless you a contractor you gonna get f'd..

im not an agent but his site says its legit.www.paperbiz.com

[bigbouncinballs]

there's always a catch... somewhere

[StoneGRMI]

I've had to help people bail out of quick money making programs like this before but not this particular one. If you take the class or whatever they offer and you're still confident in the program try it on a very cheap property and let us know how it worked. I have never believed in any program like this but I also have never tried one. Good luck!

[stuball]

im not an agent but his site says its legit.www.paperbiz.com

This internet shit is nonsence, all of a sudden flip this house came on tv than everyone became a contracter, and 99% ot these idiots get fvcked, Just like all that poker shit on tv, now every boob is a card shark. And i wonder how much money there gonna take from people then watch them go f'n bankrupt ??? Please save you money..

[notorious_mem]

appreciate the input guys

[spywizard]

I would like to know if anyone on this board has come in contact with the John Alexander Inverse Purchase System. This is how it works
system is this:
1) Locate a FSBO
2) Negotiate a deal with the seller.
3) sign contract including clauses that allow you to show the house. Also have seller sign investor's disclosure notice.(states how you are going to make your money between what you buy the house at and for what you sell it at.)
4) Show the house 2x per week for 2 weeks
5) Take mini cred apps from sub prime buyers
6) Send them to your sub-prime mort broker
7) Get one under contract (the one most qualified to buy house) for full Appraised value
8.) Send seller an invoice that the seller signs agreeing to pay investor the diff between his purchase and the appraised value and works as a contract release.
9) Fax seller copy of investor's contract with end-buyer
10) End buyer and seller go to close.
11) Title company or closing agent sends you a check.

that's easy to do, didn't know there was someone claiming to teach you to do it..

i'll go one better for ya..
1) open a construction company in your wife's name (helps that i have 6 yrs hands on experience)
2) Sign an agency agreement with a subprime lender (been here and done this before in cali, with the market the way it is in decline there are lots of opportunity)
3) do all the above yourself
4) keep all the money


by the way, i can make 125%LTV loans for people with a fico score of 620

now that takes some skill..

[aadrenaline]

that's easy to do, didn't know there was someone claiming to teach you to do it..

i'll go one better for ya..
1) open a construction company in your wife's name (helps that i have 6 yrs hands on experience)
2) Sign an agency agreement with a subprime lender (been here and done this before in cali, with the market the way it is in decline there are lots of opportunity)
3) do all the above yourself
4) keep all the money


by the way, i can make 125%LTV loans for people with a fico score of 620

now that takes some skill..

oh yeah? are you a private lender or know a private lender? most private lenders wont lend out to anyone under a 620..we have a 1.4 million deal on a 3.5 pt spread..his credit dropped to a 618 and no lenders will take him now so we have to extended another month to see if his credit comes back up the 2 points..

shoot me a PM with this 125%ltv at 620 ill get you tons of business.

[spywizard]

oh yeah? are you a private lender or know a private lender? most private lenders wont lend out to anyone under a 620..we have a 1.4 million deal on a 3.5 pt spread..his credit dropped to a 618 and no lenders will take him now so we have to extended another month to see if his credit comes back up the 2 points..

shoot me a PM with this 125%ltv at 620 ill get you tons of business.

You are refering to hard money, which is different, most private lenders will only do 70% LTV with like 18% interest prepaid with a 1 yr call.. been there done that, no one works out with that one..

tell me more about the property, is it a purchase or refi??? heck we've even done 500 on a purchase with 20% down..

there is too many variables with a 1.4... pm me we'll talk more..

[notorious_mem]

can i do this if im not an agent?

[IIIIIIIIIIII]

keep this in mind..

if you found a way to make millions, would u tell everyone who wanted to know for a measly 19.95??

[wascaptain5214]

keep this in mind..

if you found a way to make millions, would u tell everyone who wanted to know for a measly 19.95??

thats what i think too