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."