If you’re reading this then you are probably already aware of this new program sweeping the nation know as Mortgage Assignment Profits System… Or just Mortgage Assignments and you’re looking to find out the truth and if they are actually legal.
You’ve heard how it is an no risk, zero down investing strategy that actually takes full advantage of the current economic/real estate disaster that continues to plague us. Actually finding homes that are at or near underwater and selling them the huge new community of buyers who used to qualify for bank loans but can’t..
Hence the line “selling unsellable homes to unsellable buyers”
Is it the Truth?
As a fairly new investor myself (started just two years ago), and along with my two partners we represent only a handful of people who have ever done a real life Mortgage Assignment deal,
There is no denying that this idea really does work and is the main tool I have used to build a success real estate investing business.
Truth is, sure there are other strategies out there, but the beauty of the Mortgage Assignment is it is just enough like older strategies, such as Sub To’s, to have a lot of precedence and thus, completely legal. Yet, also focus on the new realities of our current economy and real estate world.
This strategy which my partners and I have been blessed to master, really does allow us to find money making investor deals that offer absolutely no risk to the investor with no money down.
In truth the true genius is whereas in the past, the investor would take over payments themselves, with this system this is not the case. The investor risks absolutely nothing because they acquire no “equity” in the transaction.
The truth about this strategy is not only are investors excited about the program, realtors are increasing seeing Mortgage Assignments Profits System as a way to subliming their income using the skill sets they already have…
Mortgage Assignments are the new legal “thing” that’s working right now and if you having trouble making deals/or are just looking for more, than in truth, I definitely recommend you look into them.
Is Assignment Of Mortgage For Real?
Question: Is Phill Grove’s Assignment Of Mortgage For Real?
This is a great question and ‘would be’ buyers have been flocking in droves to get more information on the question “Is Assignment of Mortgage for Real?
Given all the ‘buzz’ circulating in the real estate investing and realtor world that Phill Grove and his Assignment of Mortgage Payment System (AMPS) may actually be the answer to this economy.
Investors and realtors alike have been scouring the internet and looking for any piece of information they could find that may help them figure out if the “Assignment of Mortgage is for real?”
I myself have been a Phill Grove mentor student and was there when he first introduced AMPS and I can tell you Phill Grove was so excited about it. I’ll be perfectly honest, I had my doubt about whether the “Assignment of Mortgage was for real?” question and was truly the key to multiple deals a month in this economy.
It seemed to me just like another ‘sub-to’ type” strategy. Boy was I wrong on the “Assignment of Mortgage For Rea? question?”. Here’s why.
“Is Assignment Of Mortgage for real?” point one:
Compared to what? Let’s face it, it is damn near impossible to get a bank loan. Banks have restricted lending to the point that a good credit score and a six figure income doesn’t guarantee you anything if you can’t prove a really long W2 documented work history.
This seems innocent enough, but when thinking about is “Assignment of Mortgage For Real” it is for all intents and purposes a death knell for traditional investing.
Think about it. Yes, right now, there are a lot of really great investor deals out there meaning they are cheap buys. And with all the foreclosures we are hearing about on TV. it isn’t rocket science to go out and get a whole bunch of short sales under here is the question that is key to understand is “Assignment of Mortgage For Real?”
Most homes have been traditionally bought with bank loans, not cash, so in regards to the is “Assignment of Mortgage for real?” you have to realize, this included short sale buyers, and homes that have been rehabbed.
No wonder then, it has become so difficult to make money on shorts sales, and rehabs, there just aren’t many people to buy. The result is that most short sale becomes a foreclosure anyway, and the rehab deal just languishes on the market.
So for the “Is Assignment of Mortgage for real?” question, obviously, the other options aren’t very bright.
“Is Assignment Of Mortgage For Real?” point 2:
The lesson from that is that the Real Estate market is driven by buyers. If there are a lot of buyers, then it is a hot market called a “sellers” market because the seller usually gets multiple offers.
If the buyers are scarce, then the market is cold, and houses languish on the MLS for long periods of time and housing prices drop. This is called a buyer’s market because since they are scarce, they have more leverage and can get better deals.
In regards to the “Is Assignment of Mortgage For Real?” question, the point is that buyers drive it, and if you figure out where the buyers are or are going, you have figured out the market.
This is really the ‘awesome sauce’ of the “Is Assignment of Mortgage For Real?. With the banks, restricting lending, where did all these buyers, many of whom make great money, and are used to putting 5% to 20% down for a home go? Many of them went to alternative ways to buy a home.
They still want to own. The owner financed buyer pool has exploded, and that’s when it comes to the question “Is Assignment Of Mortgage For Real? The buyers have spoken, and the answer is “Yes.”
Find and Assign – Making Money in Real Estate With No Risk
Many people shy away from real estate because they think they need lots of money or credit to get started.
The fact is you don’t need any money or credit to get started if you use the “find and assign” method.
What this involves is finding a motivated seller, negotiating a price to purchase the property, then, finding an investor to buy the property,.
The beauty of finding and assigning properties is YOU never take title to the property.Therefore you never have to worry about repair or holding costs associated with the property. You simply avoid the normal risks that an investor assumes when buying properties.
And you collect a nice finders fee or “assignment fee” for bringing a buyer and seller together.
So, where are these properties you may be asking?
Two great sources are abandoned or run down properties as well as homeowners in preforeclosure.
Many times homeowners live out of town while still trying to maintain a property. In many cases the property is simply too difficult to manage from a far and the owner is looking to get out of the mortgage. These are great finds and potential moneymakers.
Right now the preforeclosure market is flooded with homeowners with no chance of keeping their homes due to job loss, divorce or health issues.
Working with these homeowners before their house goes into full-blown foreclosure is a blessing in disguise for many a distressed homeowner. Many times homeowners in this stage simply don’t know what to do so they do nothing. This is disastrous as they lose everything.
By using the find and assign method you are able to work a purchase agreement with the home owner that allows them to keep some of their equity, avoid foreclosure, and keep their credit from being destroyed. You simply find an investor that takes over your contract and you collect a nice assignment fee.
Getting started finding and assigning contracts is simple, you can learn it while you work a regular once you see how simple it is you may want to jump into it full time.