I have 2 land contracts. And have learned a lot. Land contract is the way to fucking go. No w2 no loan no fancy shit. Just take my down payment with monthly payments. Easy. Deals can be done in minutes. You will pay more than what they’re probably asking but it’s like paying interest upfront. I love it. Working on #3
ha yup. We had LC as our first deal. Then we actually did Lease to Own and had clauses saying we will buy at "x" price, so very similar but we just leased for 2 years then bought with option. But was way easier and we paid cash so was quick. Our LC deal was smooth too. Had paperwork by attorney but closed so quick. We give them payments and we also did a 10 year balloon. Actually we paid LESS than to a bank and scored a pretty neat deal on this one.
Thank you so much! We are planning on 2 videos a week. 1 video will be general like this. The other is more lifestyle and walk through type on current deals we're working on. Thanks for the comment and helping us on this channel! It's fun to do these
@@ChrisAke Keep with the grind your channel will eventually blow up. Sounds like a great plan, we are currently doing 2 videos a week as well with an occasional 3rd as a bonus. One video usually has to do with investing than the other with entrepreneurship. Keep up the passion!
I love it man! Yeah 3 is hard ha, 2 is a solid plan. We're trying and have a great little team in place here to get some nice content going. Appreciate it! Where are you from?
Hi, I'm interested in a property that the owner is considering a land contract. How much would it cost for you to review the land contract and everything else involved just to make sure that I'm getting a good deal and it's a rock solid contract. I'm a newbie to land contract so I'm looking for a professionals opinion on it. I hear nightmare scenarios where Elaine contract is paid till the end and then the original owner fights to get the property back or other scenarios like that I just want to make sure that my land contract is solid enough that I don't have to worry about that..
Land contracts are actually arguably better than leasing. Even if it's not owned free and clear, some lenders would (or should) prefer a land contract over a lease because it puts the onus on the person living in the property to take care of it.
Hi, considering a contract for deed, if the buyer defaults, what is the name of the court motion that the seller must file to regain physical possession (we already recorded the special warranty deed from buyer back to seller) ?
That would for sure be an attorney question. I haven't experience selling a contract for deed where someone hasn't paid me so I don't know exactly what that would be :( Wish I had more but I would just Google or ask an attorney. We have an attorney I basically ask everything for
I've had people asking to have a call with me lately, so I set up a 1 on 1 business strategy call with me - grab your spot now - app.sidekickai.com/u/ChrisAke3/strategycall
It is land contract Land Contracts are a different form of owner financing the difference between LC and OF is that in OF you the buyer immediately gains control of the Deed and in the LC the buyer gains ownership of the deed on the back in after it's paid down over time
Yes Jamar correct. The actual agreement and document is land contract, not "owner financing". We have a 10 year balloon and if we default they get the property back. LC baaaaby!
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I have 2 land contracts. And have learned a lot. Land contract is the way to fucking go. No w2 no loan no fancy shit. Just take my down payment with monthly payments. Easy. Deals can be done in minutes. You will pay more than what they’re probably asking but it’s like paying interest upfront. I love it. Working on #3
ha yup. We had LC as our first deal. Then we actually did Lease to Own and had clauses saying we will buy at "x" price, so very similar but we just leased for 2 years then bought with option. But was way easier and we paid cash so was quick.
Our LC deal was smooth too. Had paperwork by attorney but closed so quick. We give them payments and we also did a 10 year balloon.
Actually we paid LESS than to a bank and scored a pretty neat deal on this one.
Great video! Love when people share their knowledge! Can't wait to see your channel grow!
Thank you so much! We are planning on 2 videos a week. 1 video will be general like this. The other is more lifestyle and walk through type on current deals we're working on. Thanks for the comment and helping us on this channel! It's fun to do these
@@ChrisAke Keep with the grind your channel will eventually blow up. Sounds like a great plan, we are currently doing 2 videos a week as well with an occasional 3rd as a bonus. One video usually has to do with investing than the other with entrepreneurship. Keep up the passion!
I love it man! Yeah 3 is hard ha, 2 is a solid plan. We're trying and have a great little team in place here to get some nice content going. Appreciate it! Where are you from?
Just subbed! Also if you wanna do a collaboration just email me at grandappsmail@gmail.com. Would love to do something
Chris Ake w s
Hi, I'm interested in a property that the owner is considering a land contract. How much would it cost for you to review the land contract and everything else involved just to make sure that I'm getting a good deal and it's a rock solid contract. I'm a newbie to land contract so I'm looking for a professionals opinion on it. I hear nightmare scenarios where Elaine contract is paid till the end and then the original owner fights to get the property back or other scenarios like that I just want to make sure that my land contract is solid enough that I don't have to worry about that..
Land contracts are actually arguably better than leasing. Even if it's not owned free and clear, some lenders would (or should) prefer a land contract over a lease because it puts the onus on the person living in the property to take care of it.
Agreed! We have bought a few properties like this, then refinanced. Could be a very good option to get started 🙌🏼 glad you’re doing it too
@@ChrisAke yep I am looking into hypothecation loans to borrow against the notes on short terms to buy more property
Love it! @@jassemabdal8130
Cant wait to learn more about land contracts
Have you learned much yet? I see it's been around 7 months since the comment. Sorry for the delay, I need to get back doing videos again
U must be out of the game for a long time
We are going to do a video with Q&A to answer questions in this comment. I will keep you posted and let you know when it's live!
Thank You for the video
Can I just use a typical purchase sale agreement instead of land contract?
Doing a Q&A video soon with all these questions and will ping you once it's ready and live!! Should be good
Hi, considering a contract for deed, if the buyer defaults, what is the name of the court motion that the seller must file to regain physical possession (we already recorded the special warranty deed from buyer back to seller) ?
That would for sure be an attorney question. I haven't experience selling a contract for deed where someone hasn't paid me so I don't know exactly what that would be :( Wish I had more but I would just Google or ask an attorney. We have an attorney I basically ask everything for
Definitely helpful !!!
Thank you thank you :)
Can the contract be written to just pay the taxes and late fees?
Possibly but I would consult more experts in this. We have only done 1 so far an a lease to own. We consult our attorneys on everything
Doing a QA follow up video on this soon, will follow up soon!!
Is the land contract need to be notarized.?
Yes it does.
correct
Needs to be filed with a title company
Great!
Thx!
I've had people asking to have a call with me lately, so I set up a 1 on 1 business strategy call with me - grab your spot now - app.sidekickai.com/u/ChrisAke3/strategycall
now my seller it’s trying to use the property as a collateral to get a loan… it’s that legal?
good question. I'd ask an attorney on that one. Never happened to us and if it did I would talk to a RE attorney for sure
Doing a video Q&A on this soon :) Will ping you when it's ready
You should file your contract for deed with a title company that way no one would let them do that
Just dropped a new video about our Air BnB (Short Term Rental) investment. Check it out here - th-cam.com/video/8xblbRZNFBA/w-d-xo.html
that's owner financing not Land contract..
It is land contract Land Contracts are a different form of owner financing the difference between LC and OF is that in OF you the buyer immediately gains control of the Deed and in the LC the buyer gains ownership of the deed on the back in after it's paid down over time
Yes Jamar correct. The actual agreement and document is land contract, not "owner financing". We have a 10 year balloon and if we default they get the property back. LC baaaaby!