Regardless of who you are and what your financial situation is, a new home is now something you no longer have to wait for, thanks to the valuable and little-known real estate secrets revealed in this book. First-time home-buyers now have a brand new advantage, and if you want to cash in on the current real estate boom, here is your ticket to success! Author Adriana Dodge, a successful real estate investor herself, came to America as a poor immigrant from Columbia with only $700…
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As an experienced investor and Real Estate Investing Mentor, Trainer and Success Coach, I listen to numerous audio packages and read several books a year, to stay current with what is happening ‘out there’. Ms. Dodge gives a lot of great ideas that people with little to no experience can use.
Some of the techniques can get complicated, so using her checklists helps keep it all straight.
Another reviewer said this isn’t legal in Oregon. I live and work in Oregon and have used Land Trusts several times. Not sure who he talked to.
Good job Ms. Dodge! I look forward to your next book.
Bill
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Bill Neves
RE Mentor/Success Coach
http://www.swift-homes.com ;
360-693-8384 Office
360-693-8799 Fax
503-490-5152 Mobile
“You’ll see it when you believe it!” Wayne Dyer
This is an excellent book that covers several techniques that might be used in buying homes. The techniques basically involve finding a seller that is motivated, even highly motivated to sell. This might include people in the middle of a divorce, can’t afford the payments possibly because of a lay-off or failing health, etc. Ideally you find someone that is willing to give you the house in turn for you taking over the payments. Once you find such a seller, the basic technique she recommends is to land trust to hold the deed with you paying the seller via promissory note.
While this technique may well have worked for Ms. Dodge in the real estate transactions she describes, there are a lot of people looking for great deals in real estate. In depressed markets, you may find people willing to simply abandon their property and taking over payments may suit them just fine. In booming markets, it’s another matter.
My suggestion: Become a realtor, take the class, pass the test, get a part time job selling real estate. If nothing else you’ll learn about the law in your area and you might find just the kind of deal she talks about. As a realtor you’ll see a lot more houses for sale than you will outside the biz.
As a licensed real estate appraiser I buy a lot of books on the real estate market to keep up with trends and schemes. While I have no doubt that Adriana Dodge did indeed make the purchases that she talks about in the book and that she knows of other people that have used her method to buy real estate as a prospective buyer of this book you need to know that the method she promotes is not legal in all states.
I am not saying that she is doing anything illegal just that the method used is not recognized in all states. Oregon, the state that I practice in, does not recognize land trusts according to the escrow officer that I contacted. Without the trust aspect of her method the existing lender will be notified by the title company when you attempt to purchase the house thus triggering any prepayment clause.
So, if you buy this book be sure and verify that the methods used in the book are valid in your state or you might find yourself out a lot of money.