Category Archives: Equity Holding Transfer™

The preferred seller-assisted (Owner-carry) method for transferring real estate from lone party to another, without compromise of any governmental or industry regulations (i.e., Garn St. Germain; Dodd-Frank or Executory Contract admonitions). ‘Avoids standard credit history and down-payment obstacles.



Much has been said and written about the ©Equity Holding Corp  Trust Transfer™ concept (i.e.,, the EHTransfer™) and it appears that a select few are finally beginning “to get it.” However, probably because the so effectively replaces the need for other creative financing schemes and dreams, it often falls under attack by its detractors (especially by certain lawyers who make their livings by doing that which they more fully understand; and by those who tout and teach older, less protective, concepts such as wrap-arounds, contracts-for-deed, equity shares and lease options).

In actuality EHTransfer™ supports the objectives of each of those seller-carry vehicles, while offering a much sturdier platform for protecting the property, and therefore the principals, from the myriad risks and downsides of owner-carry financing. Few proponents of subject-to financing wouldn’t agree that there are numerous risks inherent in one’s agreeing to share a property’s title or mortgage loan obligations with another.

The EHTransfer™: A property is vested with a land trust trustee, and instead of conveying title interest; a PARTIAL beneficiary interest in the trust is assigned to a would-be buyer. That party, once named as Successor Beneficiary in the trust, and a Net Lessee in the trust property becomes entitled to all the benefits of homeowner ownership, including income tax deductions for mortgage interest and property tax.


Let’s look into a few potentially risky shortcomings pertinent to creative real estate financing, which downsides can be avoided by use of the multi-faceted title holding land trust transfer. The objective for anyone acquiring real estate ownership should always be minimum risk and maximum protection, without sacrificing income or capital gain potential.

Violation of the Lender’s Due-On-Sale Clause: 

Whether deemed a real “threat” by certain “gurus” or not (i.e., those who claim that banks just don’t care about unauthorized transfer), a DOSC call can be disastrous for someone who cannot afford to refinance when a lender calls its loan due because of an unauthorized title transfer (We hold letters from major national lenders clearly altering their stance on such transfers, stating that the EHTransfer™ model does not create a compromise of their alienation admonitions). 

The Threat of Either Party’s Legal Actions Creating an Attachment or Charging Order upon the Property: 

In any so-called Wrap, Contract for Deed, Lease Purchase or Equity Share arrangement, multiple parties are involved, and each one has either a valuable financial interest in the property, or has a primary payment obligation relative to its mortgage. As a result, there is always a real danger that either party’s liens, lawsuits, marital disputes, bankruptcy or probate proceedings could seriously cloud title to the subject property, thereby creating a grave predicament for the other party. This threat is virtually eliminated by use of the co-beneficiary, third-party trustee, title-holding land trust, in that a beneficiary’s ownership in such as trust is purely of personalty (personal property) rather than of realty (real estate) and cannot be partitioned by judgment creditors (legal opinion letters on file).

Difficulty in Dispossessing an Errant Tenant/Buyer.

When an equitable interest in real property (real estate) is conveyed to someone with a possessory interest in that same property, such party is no longer subject to eviction for damage or non-payment.  Instead, dispossession of an “owner” must take the form of foreclosure, and may also require ejectment action and quiet-title action in order to regain possession, entry and salability of the property.  In this regard, one would be well advised to employ an Equity Holding Trust Transfer™ for conveyance of the property to a prospective buyer. Such an arrangement might remain in effect until such time as the tenant/beneficiary sells the property, or refinances and purchased it outright at the trust’s termination.

In the Equity Holding Transfer™, a corporate trustee holds the property’s legal and equitable title while the tenant/beneficiary remains under the threat of simple eviction (rather than foreclosure), while concurrently enjoying all the benefits of ownership, but without title ownership of the real estate itself.


To effect the objectives of a Lease Option (i.e., a unilateral agreement to sell), the land trust property can be leased with a contractual understanding that the tenant may purchase the property or a future interest in the trust itself at some later date. Such purchase can be set at full Fair Market Value, less any monies owned to the tenant by the trust. And instead of an Option fee, the tenant can post the some predetermined amount in the trust‘s required Contingency Fund. The monthly lease obligation then becomes an aggregate payment including mortgage principal and interest, the property tax, the insurance, a monthly trustee’s holding fee and an overage that becomes the settlor’s (or investor’s) positive cash flow. [Note that any contract verbiage connoting an option to purchase constitutes a due-on-sale violation (re. 12USC1701-j-3)] 

To effect the objectives of a Lease-Purchase (‘a bilateral agreement to sell and acquire) 

In the Equity Holding Corp’s land trust transfer system, the anchoring land trust’s tenant- beneficiary can be assigned as little as a 10% beneficiary interest in the trust with a promise to convey the remainder upon that party’s  tenant/buyer’s outright acquisition of the property at the trust’s termination.  All benefits of ownership including tax write-off, appreciation, principal reduction and pride of ownership are available to the tenant throughout the transaction.

To effect the objectives of a Wrap-Around Mortgage or Contract for Deed 

The would-be buyer/”vendee” is made a successor beneficiary in the anchoring land trust and given, say, 10% or more beneficiary interest in the trust, to hold until a new loan would be obtained and the property be purchased outright.

To effect the objectives of an Equity Share 

The land trust’s tenant/beneficiary is given a 50% interest in the land trust, and a corresponding 50% share in net profits when the property sells or is refinanced at termination…’by the tenant (‘following a return of the seller’s or investor’s initial equity at inception).

The Equity Holding Tax Lease 

A tenant/beneficiary is given, say, a 10% beneficiary interest in the land trust, along with the full burdens of ownership, along with an agreement to relinquish its interest in the trust at termination. In order to be entitled to the income tax deductions for interest and property tax, the tenant need only qualify under IRC 163 (re. “Qualified Residence” parameters), being paying all taxes, insurance, monthly payments, and hold at least a 10% beneficiary interest in the underlying title holding land trust.  I.e., at termination the trust and the triple-net lease terminate and the tenant-beneficiary is free to move-on or negotiate for an extended term of years.



Can you acquire investment real estate and get wealthy, despite starting off with ‘No Credit,’ ‘Marginal Credit’ or even ‘Bad’ Credit?  ‘And how about making money in this business when your perceived short-comings include — ‘having no cash either?

Wait! Let’s make it even worse.  Let’s presume you’re sans (i.e., without) cash and credit, but you also have no experience, no professional contacts…’and you’re ugly.

[Were any of these factors really to matter, regarding success in this business, ‘especially that last one-I’d still be slopping pigs and plucking chickens for a living (…’not meaning to disparage any chicken-pluckers or pig slop slingers out there, by the way; ‘but I do find accumulating and counting money and real estate titles is a far more rewarding enterprise)..

Regarding the first question (i.e., “Can you…”), the answer is a resounding “YES”! But that’s true only if you have lots of other stuff too, ‘such as a self-starting ability, determination, sincerity, maturity and at least a modicum of salesability… and–above all– ‘a Burning Desire to Achieve!

Do you need every one of these qualities in order to be financially successful?  No! But if you are missing any one of them, your maximal chance of success is reduced proportionately with each missing element…’with special attention to the “Burning Desire” part.

With no disrespect for those who have sacrificed, scrimped, and saved to maintain perfect credit, I’d like to say that I couldn’t adequately express the respect (‘and no small degree of jealousy) that I have for you and your achievement. Personally, however, I have never been blessed with a lot of money and good credit at the same time.

Throughout the many phases of my own personal development (‘beginning somewhere around the Cenozoic Epoch), I’ve had both…’just never simultaneously.

Nevertheless, even without an abundance of cash and/or credit at any one time, I’ve managed to accumulate several million dollars’ worth real estate at various times over the years; ‘with almost none of it acquired with, or because of, credit (or cash).

And although, to some extent, the cash and credit parts of life-in general have improved a bit for me, I still prefer to acquire property silently and secretly without a cent out of my own pocket, and without a new mortgage loan or monthly payments.

Real estate is virtually free for me, given the way I do it, ‘in as much as my resident-beneficiary tenant-partners make the payments, handle all repairs and upkeep, and cover any upfront fees when I put them in the properties).

For anyone whose credit has been damaged: ‘know for sure that reestablishing it is a prudent thing to do; however, don’t forget that one’s not “using” their credit (the American Stoic approach) is far worse than one’s not having it.  Although, millions of us do just fine without it for long stretches of time…because we can get it.

Here’s my logic: If people with great credit don’t use it, and get rich anyway, ‘why would someone else without any need to worry about not having it?

And that’s where I come in.  In my own case, I filed a business BK in 1989, and gave away, and spent, everything I had ever owned in my life (‘everything!) in order to pay off my creditors. It took a while, but I did it, and I didn’t suffer much in the process, because within a month of having gone through the ordeal, I acquired a beautiful $520,000 home without a penny out of my pocket and without any need for credit. I even gave the seller (‘Mr. and Mrs. Gil Burrell of Granada Hills, California) my full credit report along with all the information leading up to my bankruptcy.

I got the property based solely upon my pleasant demeanor, decent “selling skills” and my plausible explanation for the BK and bad credit. Because of the sincerity I portrayed along with my offer to provide my plan for correcting the problems (and the “expensive looking” suit that I was wearing), the idea of credit per se became a non-issue for getting that property…’and another fifty more over the next couple years.

After that period in our lives, unfortunately the Burrell house was shaken apart by the 1994 Northridge Earthquake, reducing its value overnight by $300,000, leaving an over-encumbrance of $200,000 plus: ‘at which time I just walked-away; ‘and by the same techniques, acquired another home  a mile or two distant, and carried-on with our business (i.e., ‘no down, no credit, no new mortgage real estate acquisition), whereby my resident co-beneficiaries in the trusts that held titles to those properties, paid all the bills and handled all maintenance and general expenses for me (‘payments, taxes, insurance, HOA dues and a reasonable positive cash-flow to me)…’in exchange for use, occupancy, full tax-deductions, loan principal reduction, hoped-for appreciation and Pride of Ownership.  [Neither I nor they were on title, or on the loans, but with the EHTrust™ transfer system that we teach, that doesn’t matter.]

So…’about the time I began to feel secure, successful and cocky again re. my exquisite home-buying skills, and making better than average money by teaching hundreds of others how to do what I knew how to do so well, ‘the 2007 Subprime Crisis swooped in, hit hard and gained momentum clear up to, and well-beyond, 2010 (‘and is still haunting hundreds of thousands of the “totally screwed” throughout the country today.

In 2007 and the early part of 2008, I was fortunate enough to see the proverbial “writing on the wall,” and successfully sold-off several of our properties…the one’s with real equity in them (‘in which I had pure profit due to having no real money invested in them).

However, as is the often the case …‘When the Student is ready…the Teacher…’swoops down from out of the sky and beats the living crap out of the poor student…’in order to cure him of his hubris and wholly unearned cockiness.

Overall, in the melee I lost 53 properties due to the crisis, and managed to use up the profit I’d gotten from my earlier sales in attempting to salvage the rest…’all to no avail, while the economy continued on its path from “really bad” to atomically super-shitty (‘pardon the expression…’it’s an ancient Druid term derived from an amalgam of the ancient Druid words – “Shingle,” and the abbreviation for “Teletype”: I.e.: Shi[ngle]+TTY).

Since that time, we’ve survived, and we do reasonably well in having silently acquired a modest number of other properties by precisely the same methods…’i.e., ‘wholly without credit or cash, but with being more picky about our tenants and how much up front cash they come in with.  We now make sure they don’t have bullet holes in their cars, and that their pants are not lowered below their buttoxes ‘so as to display their gang colors on their drawers or any “vertical hemispheric demarcation (‘as it were).”

I wouldn’t say we’ve recovered completely…yet, ‘but we’re getting there, and we do eat pretty regularly, and are reasonably well-protected from the elements (wind and rain) ‘as long as the next storm doesn’t blow the canvass off our makeshift tent poles. (‘No…’actually we have a very nice home in Henderson Nevada and thank God for giving us the prime-rate crisis as a reason for permanently putting California in our rear view mirror (‘no offense to Californians…’its just that your taxes are too high and your politicians are too crooked…’and all of them are certifiably goofy).

Without ANY apparent “credit worthiness” we’ve managed to acquire credit cards (secured and unsecured), and to finance several nice automobiles. ‘Over the years, I must say, that we just haven’t suffered much, even in view of losing 53 properties and a couple million in equity: due largely to having very little invested: ‘as the properties were all acquired without down payments, without new mortgages; and our resident beneficiaries paid all the bills (‘i.e., until they couldn’t do so any more… ‘at which time the properties went back to their original owners, for their decision as to whether they wanted them back, or preferred to let them go to foreclosure (‘virtually all went the foreclosure route, but there were no loans in my name and I was not on single title…’my corporate trustee was and was beyond all responsibility and recourse).

The upside of it all is…’well…’what all losers say when they finally get back on their feet after a losing streak:  “Aha!  Now I know what to do the next time this happens (‘although, providence will probably figure out another prank with which to punch me in the gut until I get the point).”

And that point is a simple one: The prudent person should do everything in his or her power to get their credit in order; but in the meantime, ‘never let the absence of credit negatively interfere with, or affect, their investment pursuits.  One simply does not need cash OR credit in order to be a successful real estate entrepreneur… ‘assuming a good grasp of their intentions, and a good escape plan, when starting…’and assuming you have a solid source of information, education, know-how, mentoring and coaching, and a source for sound and dependable advice and encouragement.

Following–‘in the order of their overall importance–are the tools you need in the No Down, No New Loan, real estate investing business:

  1.  An honest dissatisfaction with the status quo
  2.  A burning desire to achieve
  3. An honest NEED for increased abundance. I.e., ‘if you DON’T NEED it…’you won’t get it!  ‘Without needing (‘having a burning desire for it) you only have wishing, hoping and dreaming to depend on, ‘which are each on par with horse-racing and crap-shooting as far as attaining is concerned).
  4. Tenacity: I.e., ‘the undaunted ability to stick-to-it, no matter what!
  5. Resiliency: I.e., the ability to shrug off a failure (‘or several of them in a row) and move on with undiminished zeal
  6. Selling skills: Learned and/or natural sales-ability (‘i.e., the ability to listen and think at the same time; always listening more than talking; remaining 100% honest and forthright while staying unattached to the outcome)
  7. A professional and business-like demeanor re. your personal grooming and attire. E.g., a misplaced body-piercing or ornamentation can cost you millions in lost opportunities in just a few years…’without your ever even knowing that it happened, ‘much less Why
  8. A solid understanding of Real Estate and Real Estate Finance
  9. A source of available cash…or someone to call-upon who has it… or a way to avoid its necessity
  10. A real comfort in product knowledge, allowing one to “go commando” in this business.)   *Comando: No cash, no credit, No experience and perhaps Limited sobriety

In this business, without at least the first five elements in the above list, you are likely destined for failure (‘in this business).  However, with #1 through #5, ‘along with any one of #6 through #10, your chances of success are good.

With all of, say, 9 out of 10, your success is unavoidable, and abundance is already yours, and just patiently waiting for you to reach for it and demand it into you life.

The best advice anyone will ever give you: ‘Find that Self-Serving Need in your life that is feeding upon your financial deficiency and destiny…’and eliminate it ‘once and for all.  Know that anything pleasurable that you decide you can live without will always (invariably) be immediately replaced by something else that is better for you and you life’s aspirations.


Bill Gatten

Consider this:

If you could know with confidence that a particular stock (‘say, “Peachy Computers”) is selling for $550 per-share today, and that it will more than double in value over the next two months, ‘would you be willing to pay $600 per-share for it (i.e., $50.00 per-share more than it’s worth)?

Gosh, I hope so, but now consider the same scenarios where you have a “cash partner” who will put up the $50 for you for half of the $50 in a couple months (‘a 50% ROI in two months?  ‘Not a bad deal for you and your benefactor Gosh, I hope so, but now consider the same scenarios where you have a “cash partner” who will put up the $50 and who will be satisfied with just half of the $50 in a couple months (‘a 50% ROI in two months?  ‘Not a bad deal for the partner and a super-dooper deal for you: ‘i.e. a ten-billion-plus percent ROI (which would be about the same ROI if you’d invested 10 cents).

Or (‘now a little closer to home), ‘let’s say you find a house with a value of $225,000, and you learn that the property is securing a loan of $250,000.  ‘Would/could this be a good deal for you IF, say, you knew for sure than the property would be worth $300,000 in three years, ‘i.e., given reasonable appreciation projections?

In your computations here, now consider the same house not appreciating at all over the next three years, ‘during which time you have a tenant-buyer (“partner”) living in it, making all the payments, and who posted a $10,000 Contingency Fund up front in order to get in without a full down payment or needing to qualify for a mortgage, ‘and who is also paying you $150-$200  per-month in positive cash-flow, while personally 100% of all maintenance, repairs, taxes and insurance along with the underlying loan’s principal and interest.

Would the forgoing opportunity be a good deal?

Considering this deal (never use the term “deal” in any conversation with a client  or prospect), remember that you got the house for nothing down and merely assumed and passed-on the existing recurring costs your tenant-buyer.

You had no standard credit qualifying process; and you’re holding $10,000 in a Contingency Fund…’all without a violation of the underlying lender’s \Due-on-Sale admonitions, or compromise of any federal regulation concerning restriction re. Owner-financing of real estate (Dodd-Frank)?  Also consider doing a transaction like this perhaps once or twice a month with others of the millions of over-encumbered properties across the US (‘i.e., by a method that very few others have the slightest idea of how to handle).

Alternatively, let’s now say that you are given an opportunity to take-over a $250,000 clean 3-bedroom, 2-bath, 1800 sq. ft. home in a nice area – i.e., ‘one on which you need make no payments (‘your partner will do that), on which you receive a positive cash flow of, say, $100 or $200 per month…’and all of this, without the necessity of a down-payment, new financing or credit qualifying.

Would you take it? 

Wait!  What?  No payments?   Before you decide on this one, remember that this fictional property, like the fictional stock purchase above, has no equity (‘i.e., its market value is $250,000 and the loan-payoff is $275,000).  I.e. ‘not only is there NO equity, but the “equity” is NEGATIVE by $25,000).  ‘Still interested?

Before you decide, note that should you accept the property as offered, you’ll have no maintenance costs or management or repair expenses.  Moreover, ‘it’s not you who is on the loan and who will be primarily responsible for making payments or paying for property taxes, insurance (‘or any HOA dues or assessments)…’and your name will not appear on the mortgage, ‘nor will it appear in the public recording of the property’s deed (title).

OK, Now decide:  ‘Pipe Dream, or Dream-Come-True?  Or… ‘is it one of those too-good-to-be-true scams that pop-up so frequently in our business?

I’m hoping (trusting) that your response to the questions above (i.e., “Would you do it?”) will be the same as mine would be, ‘which is, “Buddy, you can bet those hagfish-skin cowboy boots, I would!”

“But why on Earth,” ‘some might say, “would anyone choose to take on the responsibility of an overpriced, over-encumbered property with negative equity?”  [Analogous side-question posed as a rhetorical didactic statement] ‘Why do people keep buying stocks and bonds when their value at inception is exactly equivalent to their purchase price…i.e…’no equity?].

The real issue here is that Equity in real estate is wonderful when you have it; but it has never been the “Be-All and End-All” when it comes to real estate acquisition; and those who think otherwise are missing the point and some significant opportunities involving millions of dollars in potential income, profit and a highly satisfying life of financial security—and here’s why:

There are, after all, myriad readily salable benefits of real property ownership, aside from Equity, ‘some of which include:

  1. Income Tax Write-Off for mortgage interest and property tax (‘and its “transferability” for profit);
  2. Equity build-up from mortgage-principal reduction;
  3. Equity build-up from economic appreciation;
  4. Use as collateral for other real estate acquisitions or unrelated business opportunities;
  5. Rental, Lease and Purchase-Option income potential;
  6. Time-sharing potential in certain types of properties;
  7. Re-salability (marketability) i.e., packaging for early re-sale to other investors;
  8. Land Use, beyond residential occupancy;
  9. Profits derived from “flipping” and/or discounting one’s ownership or acquisition rights to another party;
  10. Pride of Ownership– ‘singularly the most sought-after, salable and coveted aspect of homeownership).

It should be clear in perusing the foregoing list that one needs only a few of these benefits (‘maybe even just one or two) to make money in the business of real estate acquisition.  For example, ‘consider how you might fare in your own real estate investing endeavors were you to have, say, only items  #3, #2 and #8; or perhaps only items #2 and #3; or #4, #7, #8 and #9 (…or maybe 9 out of 10).

The point is, ‘who needs “Equity” when all these other profit centers are so clearly abundant and so simply and easily at your disposal?


A serious “Don’t-Wanter” homeowner who is straddled with a $250,000 property earing a loan balance of $350,000 (i.e., ‘upside down by $100,000), and an aggregate PITI payment (‘i.e., principal, interest, taxes and insurance) of $2,530 per-month. [i.e., P&I = $1,880 + T = $525 + I = $125].

  1. Consider that any traditional home buyer acquiring a similarly valued home would need to take out a loan for $250,000 at, say, 4.5% interest if 100% financing were indeed available to such a buyer with perfect credit.  In this case, the aggregate PITI payment (i.e., principal, interest, tax and insurance) would be $1,750 (Est) per-month for 30 years (i.e., P&I = $1,390 + T = $260 + I = $100).
  1. Therefore, quite obviously, a seller of this over-encumbered property (i.e., $250K value with a $350K loan) can’t sell by traditional means without paying his bank $100,000 in cash and covering closing costs of about another $20,000 and paying all maintenance and management costs on top of that (i.e., ‘converting the over encumbrance to $120,000.  He/she is, instead, forced to rent or lease the property out for around $1,500per-month: i.e., leaving him/her with a negative cash flow of over $2-300 per-month: plus rental property management (‘not an enviable position in which to find oneself).
  1. ..’in view of ‘a’ & ‘b’ above, what might such a property owner say to your offer to take the property over and reduce his/her negative cash-flow down from to, say, $500 or $600 per-month to a lot less, while you simultaneously relieve him/her of 100% of all management, maintenance, taxes and insurance expenses…AND…’the $120,000 over-encumbrance?

Moreover, when/if you offer to take this burden off the owner’s hands, are you not essentially handing him/her a hypothetical check for $120,000 in non-taxable  debt-relief …after having calculated about how long it will take for economic appreciation and mortgage principal reduction to sufficiently to neutralize the overage (‘a simple process with any business calculator)?  And what if no appreciation ever takes place?  How much did you lose, given your right to walk-away at the transaction termination, either relinquishing title back to the owner-of-record or negotiating an extension of the original terms?

Realistically, if any reasonable person in this predicament would object to paying you, say, $5,000, $10,000 or $15,000 upfront, ‘or, say, $500 per-month for 60 months, for doing this for them, they are not thinking clearly at all?  After all, your fee is far less than closing costs and real estate commissions would be (‘even if a Realtor® would take the listing…’which they won’t) in a traditional sale if such a sale were possible.

  1. ‘By the same token, ‘what might a potential homebuyer with marginal credit and minimal down payment say to paying you a bit more than Fair Market Rent, in exchange for 100% the income tax write-off for property tax and mortgage interest, along with all (100%) of the benefits inherent in Fee Simple real estate ownership?  ‘All without a down payment or loan-qualifying,
  1. Think about it… ‘for someone in a one-third income tax-bracket, ‘the after-tax cost of renting for $1,700 per-month is actually $2,550 per month

(I.e., ‘after earning that amount and giving 1/3rd of it to the government for taxes, 2/3rds of the $2,550 is left-over to pay the $1,700 rent.  This obviously then means that the actual after-tax cost of renting in this case (or any other) is really $850 per-month more than the $1,700 rent (‘as a matter-of-fact, the renter is paying 50% of his/her rent ‘in income tax” (‘i.e., 1/3rd of what’s he/she earns, but 1/2 of what’s paid…(’that’s the unwritten, sort’a  secret and tricky rule of the IRS).  I.e.: “OK you want to spend a dollar? Well, then, but you’d better earn a dollar-and-a-half, so that when we take out our 1/3rd for tax, you’ll still have a dollar left to spend: we want half of what you spend, which is one-third of what you earn…’Like it or not, we are your 50:50 partner, Pal.”

Question:  Which is less expensive — ‘the after-tax cost of $1,700 per-month rent ($1,700 + $850 = $2,550), or an aggregate mortgage payment of $2,200 per-month with a tax deduction?

Answer:  Because of the tax deduction benefit, the $2,200 house payment turns out to be significantly less than renting the same house.

  1. Now—‘stop for another quiet moment and seriously consider how much a tenant-buyer might pay YOU upfront (‘or per-month, ‘over and above the “mortgage” payment) in exchange for your putting him/her into their “dream home” for what is tantamount to 100% fee-simple home ownership, without a down payment or any more credit-qualifying than you, yourself, might require.
  1. With $500 from the seller and $2,200 from the buyer per-month, you have a positive cash-flow, in addition to the upfront money (‘or the no-interest monthly installments paid to you for it).

Also…’in any such arrangement, your “seller,” your “buyer” and YOU, are well-shielded by the type of trust in which the property is vested: i.e., ‘protected against threatened litigation involving the property—by virtue of the Open Door Wealth Management Equity Holding Trust Transfer® in whose third-party bonded, licensed, non-profit corporate trustee, the property’s legal and equitable title are vested for an agreed-upon term.

Find a better system that this for dealing with otherwise wholly untenable investment real estate, and we’ll buy you soup taco (‘as flimsy a thing as one surely must be).

A tough question posed recently by a would-be investor in the East: 

“Where I live there hasn’t been any appreciation in real estate for several years now. If I truly want to pursue being a real estate investor, should I move elsewhere, or wait for the market to turn?

To some this might seem a reasonable question; however, my response was: “Stay put! Empowering such bogus rationale is what keeps the millionaire ranks as low in number as they are.”

The key to creative real estate investing is to have a plan that adapts quickly to ANY market…it doesn’t matter which direction market dynamics flow, the force is still there: water flows east with the same strength as when it runs west. In a “down” market, there are few willing buyers; but obtainable properties abound, and they’re all for sale at the best prices.

In an “Up” market there may be fewer “easily” obtainable properties: but there are more buyers, and they’ll do just about anything you want them to in order to get in on the action.

The fact is that market dynamics in creative real estate have always required “thinking outside the box.” The true creative entrepreneur lives with, copes with, and makes his/her living with…’that fact always in mind.

Think about it…a fisherman who goes fishing armed only with catfish bait, most probably won’t catch trout. All he can expect to bring home is catfish…’if they’re biting that day. If the catfish aren’t hungry, the fisherman will be.

On the other hand, the serious and well-studied angler, carries a “full” tackle box, so that when the catfish aren’t biting, he can hook up for trout, bass, walleye…or a sperm whale, if he wants to…’at a moment’s notice.

Understand that when real estate appreciation trends are up, a seller’s market prevails: sellers set high prices and hang in there till they get them. On the other hand, when appreciation is down or stagnant, that’s a buyer’s market: fewer of those kinds of properties may be available, and their sales are sparse.  It’s during these downtimes that most folks are counting pennies and digging in for a long winter, rather than looking for a new home.

In other words, a seller’s market pushes prices and circumstances toward the seller’s benefit; whereas a buyer’s market pulls everything down to suit more buyers’ needs.  But none of this should be a concern of the well-studied CRE investor. In an up market you sell, in a down market you buy and hold.

During our last major downturn, a common cry was: “Help!  Houses are a dime a dozen, but I can’t find any buyers.” But now that the market has turned, the current entreaty is, “Help! Buyers are everywhere, but I can’t find any houses!” And (for the most part) who do you suppose these two disparate plaintive moans are coming from?

Right! Exactly the same people: ‘those who choose to blame their own shortcomings on market condition, having failed to plan to “bend with the trend (as it were).”

To excel in any market, we need education…and dependable tools that work in all circumstances. In a seller’s market, we must be able to attract and serve buyers who would love to climb on the home-buying bandwagon, but who haven’t yet saved up the cash or garnered the credit to do so. In a buyer’s market, that knowledge and those same tools must attract sellers of no, low, or negative equity properties; fixer-uppers; distress sales; NOD filings; and “hard-to-moves”…while simultaneously wedging us, the creative investor, into the middle.
This is where Equity Holding Corp’s Equity Holding Trust Transfer™ comes in.

The Equity Holding Trust Transfer™  is, in essence, a third-party title-holding (land) trust system (“on steroids”) , which works virtual wonders for investors, buyers and sellers in any market.

With this remarkable tool, the existing mortgage stays in place—without a due-on-sale compromise; as full income tax write-off is transferred to the tenant-buyer  (‘i.e., in exchange for higher payments than rent can provide a landlord; but significantly lower payments for the tenant-buyer (due to the many ownership benefits including full income tax deductions for mortgage interest and property tax, as well as profit sharing).

By virtue of the anonymity of ownership, the Transfer™ property is well shielded from creditor judgements, tax liens, lawsuits, bankruptcy action and marital disputes. Think of it:  No down payment; No bank qualifying; No payments; No expenses; No recourse; No eviction (dispossession) problems; and No tenants, toilets, trash and trouble.

THIS is creative real estate investing!

Imagine telling a seller who may be reticent about “carrying,” that he needn’t transfer the title to you until you opt to sell or refinance in the future. Or that he needn’t worry about liens, suits, judgements or personal problems ever compromising the property’s title… while he remains on the loan (‘nor do you need to worry about such occurrences on his behalf).

The Equity Holding Trust Transfer™ gives your tenant full tax write-off in exchange for paying (your) full mortgage payment, property tax and insurance (and HOA?). For a share in future appreciation potential, they’ll gladly pay 100% of the (your) maintenance, repair and management costs. In other words: “Mr. Buyer, if you can afford the payments (which include a few hundred in positive cash-flow for me) and a few thousand dollars in closing costs (most of which goes into my fuzzy little pocket)… I’ll give you the property.  The only thing I want out of it is to have you refinance it in yur own name, or sell it, in a few years, and at that time, ‘if there’s been any appreciation, we can just split it.”  In the meantime you have 100% of the house, 100% of the tax write and 100% of all fee-simple real estate ownership benefits…’ and of course…’full pride of ownership.

Regarding the Saturday Morning Training Sessions:
We meet every Saturday (9:00 AM PST) till about (10:15-30 AM PST)

How to Join the Webinar

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We talk about marketing strategies that we have full access to, which others simply do not, and about which they haven’t a clue as to how to implement our proprietary ideas and systems.

For instance, our excellent staff and other special guests) cover a myriad of topics regarding how a 3rd Party Land Trust Conveyance (The Equity Holding Transfer™ accomplishes all of the following, ‘just to name a few of the remarkable profit centers):

  • Working over-encumbered properties for BIG bucks
  • What to do with foreclosures beyond the short sale or modification
  • How Equity Sharing done properly provides Appreciation Insurance
  • How money can be made (lots of it) where others see no hope at all
  • How to convert short sales into safe and harmless full commission sales
  • The real way to do options…without any of their down-sides
  • How to do Contacts for Deed, All-Inclusive Mortgages, Equity Shares and Land Sale Contracts, without due-on-sale violation
  • Doing all of the forgoing without Dodd-Frank (seller-financing) compromise
  • Holding properties in a Faux Escrow (i.e., in a 3rd party trustee) for the purpose of avoiding the necessity of new mortgage qualifying, exorbitant down-payments and stringent credit requirements
  • How to pick up a property and flip it in a week without escrow or new title insurance
  • Using our on-line documentation and form creation data-base

We look forward to “seeing you” on Saturday.  Simply turn on your computer follow the above instructions, grab a cup of coffee (‘or two); sit back, relax and learn some stuff that has made millionaires out of a whole lot of folks over the years

We don’t want properties…’we want motivated sellers…’and strangely enough, every one of those folks has a property that they don’t want anymore (‘because, quite frankly,  they just don’t know how to do what we do).


For interest’s sake, the following is a recent letter to network members who suggested that he might want to reconsider using the NEHTrust or PACTrust because it takes longer to facilitate and close than does a L/O or Wrap. Well…being the thin-skinned meek little (sweet) jelly muffin I am, I suggested that if he didn’t want it done right, I couldn’t help him; but that if he did want it done right it would take more time than most other creative financing schemes (L/O/s CFD’s, Wraps, Equity Shares, etc.).

Our motto around here is: You can pick any two (but only two) from the list below, and we’ll be your Huckleberry…

  1. Have it Done Properly
  2. Have it Done Quickly
  3. Have it Done Cheaply

So…after it was suggested that we shouldn’t take such criticisms so personally, I responded with the following:

Yup…I do take personally anything that has to do with the safety and well being of your business and/or mine. My business is ME, and my products and services are 100% ME: and [product or service comprises my very alter ego to the nth degree (to the bone, as it were). And, hey, that’s not a bad thing though, because that quality within me is what keeps me and all my students and clients out of court and out of jail.

As well (I continued), I do understand your frustration Elmo, (“Elmo T. Flopenenwaller”) and I am willing to work through it with you with any constructive suggestions you might have for improvement: but in the meantime, you MUST understand that certain processes simply may not be avoided or compromised. If we allowed that, we could not hold ourselves responsible for these transactions and keep you and your clients out of serious trouble later on down the line.

The entire process comprising the Third Party Co-Beneficiary Transaction (PACTrust™ or NEHTrust™) is as follows (I have given reasonable time spreads for the number of workdays that might be (could be) involved in each of the steps or phases which comprise the documentation process…variations in mailing and shipping times and weekends and intervening holidays notwithstanding:

  1. Fist, your clock starts ticking (though ours doesn’t yet) when you meet with you client and get their acceptance of your proposal – 1 – 2 DAYS
  2. Next you obtain all the appropriate information and send it to us (or have us obtain it for you). 1,2 3 OR MORE DAYS has usually gone by since your original contact) – 1 DAY
  3. Next, you compile and forward us Appendices 1 through 5 completed (if not completed accurately or fully, add another day or two for us to round-up all the information we need for data input) – 1-2 DAYS
  4. Our data input and document formatting is completed (3 or more hours of work), whereupon the initial land trust is created and sent to legal for review and to PAC or Equity Holdings for holding once the signed original is received following COE) – this serves as notice to collections and the trustee that the transaction is in process and entering Escrow within the next 1-2 days, and for them to get their procedures in line to receive the new project when Escrow closes – 1-2 DAYS FOR INPUT AND FORWARDING
  5. A Verification of Data (VOD) report is then sent to you (the investor) for review. At this point nothing is sent to the parties until you have personally approved and verified that the figures are accurate and that no information is being given to anyone that shouldn’t see or have it (e.g., your acquisition price, mo payments, initial work-out arrangements, etc.). We then have to wait up to 48 hours for a return or acceptance of the VOD: though we will proceed without you if we haven’t heard from you in 48 hours – 2-3 DAYS
  6. When your VOD has been signed and returned to our office, or when your 48 hours are up, we then draw First Drafts. At that point if no corrections are necessary (‘happens VERY rarely), then the first drafts are individually forwarded to all parties (by regular or overnight mail, unless we are instructed differently): Allow for 2 days to delivery and 2 days for return or verification – 4-5 DAYS
  7. When all drafts have been returned with corrections or acknowledged to be OK as is (happens rarely), we then either — 1) complete and forward 2nd drafts (if corrections were made) – 2-3 DAYS; or 2) proceed to final documentation (if no corrections were required) – 1-2 DAYS. All final documents are forwarded (by overnight mails or PDF computer file) to Escrow – 1-2 DAYS
  8. Any additional verbiage in the Rider Agreement or in related documents (other than boilerplate) must be run though our legal department (outside law firm) for review and approval – 1-3 days (depending upon attorney’s case load)
  9. Following legal review, documents are forwarded to Escrow, who then prepares the Settlement Statements and any other necessary documents simultaneously with their Escrow Instructions for shipping. 2 DAYS
  10. At this point Escrow either arranges for a sit-down closing in the client’s area, or (if preferred) documents are sent Over Night for execution in counter-part for return to Escrow for final review and approval of completeness. The documents have then to be signed notarized and returned to Escrow by the US Mail, Fed Ex or UPS – WHOLE PROCESS CAN TAKE 6-7 DAYS
  11. When everything is back in Escrow’s hands–if no mistakes have been made—the final title search is run and the deed is sent by messenger for recording in the local area (US Mail, Fed Ex or UPS): all monies are then distributed (checks cut) to the appropriate parties and the Escrow is closed – 1-4 DAYS (depending upon time-of-day materials are received and/or mailed out by Escrow)
  12. Upon their receipt by Escrow, all original signed documents are reviewed for correctness and forwarded (Overnight Mails) to PAC or Equity Holdings and to NARS for final set-up of the Holding and Collections files. PAC then sends a Welcome Letter and remittance instructions…and voila, the transaction is finalized – (ANOTHER 1 – 2 days).

Now, Understand CLEARLY that IF at any point along the way a mistake is made and not caught soon enough, it may become necessary to redraft certain documents (e.g., if the MAV were not stated correctly in the beginning, or if payments were not calculated properly, or if a key profit center wasn’t clearly defined in the beginning…or new Rider information were to requested, etc.)

Ways to shorten the processing time or your transaction:

  1. Make sure all “I’s” are crossed and all “T’s” are dotted on the original worksheets (Appendices #1 thru #5) when you send them to us
  2. Verify and clear all anticipated charges through NARS (Appendix 4) first, before sending in the worksheets (Appendices #1 thru #5).
  3. Assure that all start-up moneys (Retainer Fee and Good Faith Escrow Deposit) accompany your order for documentation; and assure that the Retainer Fee Agreement is properly signed and dated when we receive your package. We can not start without a signed and paid Retainer Fee Agreement
  4. Provide NARS with a good and valid Legal Description of the property along with your order for documentation and facilitation (full Lot, Tract, Map Book, Page, Plat, Parcel, Assessor’s I.D. Number, etc.) at start. If we have to order it, it can add 2-3 or more days onto the turn-around time.
  5. Volunteer to handle the walk-in and recording of the transfer document (deed) yourself once it has been signed and notarized by the transferor (state that you will do that in a note with your documentation order)
  6. Handle all mailings by overnight or express mail
  7. Be prompt in reviewing and returning VOD’s, drafts, corrections, changes or amendments by Fax. And, above all, be explicit enough in your notation (re. variations from standard documentation) that you do not have to be contacted for clarification
  8. Be as brief as possible, but complete (i.e., be succinct) in all written (faxed or Emailed) correspondence.
  9. Volunteer to handle the final signing of documents yourself in your office (must have a Notary standing by) so that clients can’t dawdle and procrastinate.
  10. Never be mean to anyone in the NARS documentation department (but do not send candy or flowers alone…cold hard cash and booze bribes seem to work best).


Let’s say you find a property that is worth perhaps $90,000 to $100,000.

You learn that you can have it for an MAV (Mutually Agreed Value) of $80,000 by making it a fast deal and just taking over the monthly payment obligation.

Let’s also say that the property needs, say, $4,500 or so to cover unpaid arrearages (‘assuming the lender won’t consider forbearance).

In order to make a future profit, ‘you now bump the equity (i.e., increase the current MAV (mutually-agreed value) for your Resident Beneficiary to, say, $105,000 and charge him/her, say, 6.0% to get in (about $6,500). You have now made $25,000 on paper and $2,000 in cash up front, plus a positive cash-flow along the way (‘i.e., ‘in addition to the principal reduction and future appreciation you’ll see over the term of the agreement.

You’re doing great!  Nuthin’ ain’t cost you nuthin’ so far!  But in this case, Nuthin is indeed worth Sumthin!  (‘With apologies to Janis Joplin and Bobby Mc Ghee)

Next, you make your verbal offer to the seller at $80,000, and explain that you are an investor and need to make a reasonable profit (maybe). You explain that since you will have to negotiate with you incoming Resident Beneficiary, with his/her permission you’ll need to put a larger than actual MAV on the offer: ‘i.e., in order to have plenty of negotiating room (‘as is virtually always needed).

Then, ‘when presenting the offer to the Settlor (seller), you show his actual refundable contribution as zero, but show yours as the difference between the acquisition amount (80,000) and the bumped MAV of $105,000. This doesn’t affect him negatively in any way, and could even lessen any tax burden he might have ‘if he will have Capital Gains to deal with (‘upon the trust’s termination).

Now, ‘when you decide to meet with your Resident Beneficiary prospect, he/she sees the higher amount and doesn’t worry about the difference, ‘as he/she will presume that you put in $25,000 in cash (‘unless you tell them otherwise).

The documentation will now show that at the end of the agreement’s term, you and your Resident Beneficiary will sell or refi and give the Settlor (your seller) his equity refund (‘which is zero in this case…‘unless there were to have been some equity for him at start).

At the trust’s termination (‘and that of the lease), you give yourself your $25,000, and return the Resident Beneficiary’s initial non-recurring closing costs (‘i.e., any closing costs that were a one-time expense); ‘following which you and your Resident Beneficiary split the remaining net proceeds relative to your respective percentages of beneficiary interest having been held in the trust: i.e., ‘depending on whether or not the requisite 10% beneficiary interest held by the Settlor during the trust’s term will be relinquished to you or not…’according to your initial agreement with the Settlor.

In certain cases you might have agreed (‘perhaps for added incentive) that the Settlor should participation in profit-sharing at termination ‘proportionately with his percentage of beneficiary interest held (‘although more often than not, the Settlor’s percentage is set to be fully relinquished  at termination in consideration of prompt payments and strict adherence to contract terms throughout the transaction).

Question: So why should the settlor have any beneficiary at all during the transaction’s term?

Answer: 1) So that there is no violation of any underlying lender’s Due-on-Sale Clause (12USC1701j-3); 2) so that the Settlor can have an insurance interest in order to acquire and retain Landlord Insurance Coverage (the tenant beneficiary obtains his/her own renter’s policy); 3) and so that the Non-Resident Beneficiary  will have access to the right of Depreciation for tax benefits (i.e., “Use it or lose it,”  ‘as they say ‘in reference to the IRS’ recapture upon sale, i.e., whether it has been claimed or not).

Remember that bumping the Mutually Agreed Value in this manner by, say, five or ten thousand dollars today doesn’t make the property any more valuable (today), or earn you any more money (‘today): ‘but it does give you significantly more profit at the end of the EHTransfer™, when the trust is terminated and the property is sold or refinanced, and net proceeds are distributed.

Question:  Why would anyone agree to take on the property at more than it appraised value?

Answer: Because they are acquiring a home of their own without needing new bank loan, ‘without standard credit checking; without a normal down payment; and because you don’t care about their credit as much, ‘as long as you have a couple (2 or 3) refundable payments held in the trust’s Contingency Fund for use in case of default and the necessity for eviction.  Inasmuch as, due to the trust, they can never claim having an equitable interest in the property (i.e., the trustee holds all of that), a foreclosure process is never necessary…’just simple, unfettered eviction pursuant to the agreement in the ancillary Triple-Net Lease.

Remember too that the posted Contingency Fund is for the purpose of making any missing mortgage payment; and no matter how much money may be in the fund, a default in payments will result in eviction and termination of the trust (‘if not cured within the allotted time).

Note as well, that irrespective of any amount in the Contingency Fund: ‘in the event of a default, it will likely be yours to keep, in so much as the tenant-buyer will still owe the missing payment/s and all remaining payments on their lease: ‘as well, they also owe any requisite refurbishment and re-marketing expenses.  And also, for any amount still outstanding, they are subject to lawsuit and obligated to pay you, voluntarily nor not, what you are owed ‘should they come into money within the next eight to ten years (‘and depending upon where you live, your lien against them is renewable after that time period).  Note that the defaulting party’s incentive to pay you what you are owed is intensified when they realize that your lien can prevent them from getting credit for buying a house or car, ‘or maybe even getting (or keeping) certain jobs.


Another way to bump (or “pump”) a property’s MAV is to make your offer at the $80,000 amount, then get the offer accepted in writing: ‘then go back to the Settlor and suggest that for your benefit, the $80,000 be crossed-out and initialed, and replaced with a higher number in order to give you some negotiating room with your incoming Resident Co-Beneficiary (‘you point out that doing so will raise your beginning contribution without affecting his income his tax basis (‘could be a good thing if he has equity).

You then say: “Let’s make it, ‘Oh, say, $105,000; ‘and although I probably won’t get anything close to that, ‘it gives me some room for negotiation.”  Again…you now have the higher MAV showing in the documents and needn’t hide anything from the resident (or the Settlor).

When your Offer to Acquire is accepted by signature of the Settlor, that’s also a good time to have him/her execute the limited Power of Attorney, so that you don’t have to go back to him for signatures later.

That’s it…’ain’t no big deal!  Just keep on bumpin’!


A caution to always seek out the advice of a competent attorney before “trying this at home” is always good advice; although I find it difficult to proffer truly good (non-legal) advice on the subject of seeking the right attorney with regard to the Equity Holding Trust Transfer™ or land trusts in general. In fact, I find myself “…jest a tad ‘twixt a rock and a hard place” here (as it were), mostly because… they jest ain’t hardly none o’them  a’tall around these parts (as one might say on Jerry Springer).

Although I certainly do not advocate proceeding in any real estate related transaction without the advice of a “good’ and “knowledgeable” real estate attorney (a little like finding a handsome hag fish or a smart wrestler, I’m afraid): the quandary is that—‘first off, there are very few attorneys who know a lot about the use of trusts in general. Then there is the fact that there are even fewer who know kidney beans from koala bears about what a “land trust” is…’much less how it differs from other inter vivos (living) trusts, and what it’s capable of doing. Many attorneys have never even heard of such a thing; and there are even fewer yet who are competent to offer sound advice—pro or con—relative to the use or safety of an “Illinois-type, revocable, inter vivos, title-holding beneficiary-directed, third party trustee, land trust transfer (the Equity Holding Trust Transfer™).”

Ordinarily, when an uninitiated attorney is engaged for the purposes of reviewing a land trust transfer—much less an Equity Holding Trust Transfer™ with all of its attendant appendices, directions, Escrow documentation, creditor letters, etc.— he or she is faced with a true pointy-horned dilemma. The only two options available are: 1) Get into Nexus-Lexus or out to the law library and spend some time getting educated on the advent and history of land trusts, or 2) render advice (pro or con) on something they know virtually nothing about (‘and I can assure you that it will always be ‘con: albeit I and our own attorneys are always on hand).

I’d presume that less than 4 or 5 hours would be needed to thoroughly research the pertinent local and federal codes and cites, and the myriad features and uses of the land trust (i.e., a bill of from $1,700 to $ $5,000); Think about it…if you were a busy attorney with your itinerary over-burdened with time constraints, what would you prefer to do?  Bill for a couple hours, or advise a client to do something you’re not completely sure of.

I.e., ‘would you opt to: 1) Spend your “billable” hours doing hard research for free for a transaction you’ll probably never see the likes of again; 2) Risk your client’s walking away and your receiving nothing for your consulting time, or 3) might you attempt to convert the entire transaction to something else? I.e., to something you better understand, and with which you feel more competent to advocate…’and on which you could make some money?

Similarly, if you were the client seeking and hoping to pay only for a simple review and approval of a set of documents, would you be willing to finance your attorney’s continuing legal education at the rate of $175 to $275 (or ?) per-hour? Probably not. My guess is that you’d relent, as many do, and be coerced into accepting the suggestion that the entire transaction should be transformed into something more “manageable (for the attorney).” Perhaps a nice “Contract for Deed” or maybe a seemingly innocuous “Lease Option.”  ‘After all, let’s face it, there just isn’t much billable potential in telling a client, “I’m not competent to review these documents…you should see someone else.”

Taking the advice to “convert to something else” clearly means reverting back to the very downsides, short falls and serious risks that the Equity Holding Trust Transfer™ conveyance concept was designed to avoid and protect you from, in the first place.  I.e., shortfalls such as (‘just to name a few):

  • Public recordation and notification of the transaction (‘neither party’s name needs to appear in the public record…and it ‘gets the “Sue Me” sign off the property owner’s back);
  • The lenders’ alienation admonitions (due-on-sale clause) not violated (12USC1701 j-3);
  • There is no compromise of the Wall Street Consumer Financial Protection Act (re. Dodd-Frank re. seller-assisted home financing)
  • Prevents a claim of “Equity” by a defaulting tenant-buyer so often used to thwart eviction and force a drawn-out and expensive foreclosure process…and free rent while the case drags on;
  • Avoids the threat of either the seller’s or the buyer’s creditor judgments attaching to the property (or to any Option on it);
  • Eliminates the threat of either party’s income tax liens attaching to the property
  • Removes the possibly of marital dissolution claims preventing easy disposition of the property
  • Stops the insidious susceptibility to attachment by partition actions and/or charging orders against individual participants by judgment creditors;
  • Avoids the risk of either party’s being penalized because of the other party’s bankruptcy, probate marital dissolution, incarceration or forced ancillary administration process upon a party’s death;
  • Provides an (“escrow-like”)  third-party title-holding trustee that very effectively shields the title against litigation and prevents the potential for disputes among beneficiaries

If you or I were to consult with our licensed, board-certified general medical practitioner about treatment for a brain tumor, a good one would refer us to a neurologist. However, the mindset of the legal practitioner is all too often analogous to that physician’s suggesting that we simply contract a more manageable condition. E.g., ““A brain tumor eh?  Well, I don’t know much about the brain, so how ‘bout I treat you for hemorrhoids instead? Here. Take this. Insert it carefully. Pay ast the front desk. me. Call me in the morning, and if this cure doesn’t work…’great, just let me know and we’ll switch to still another malady (“I’ve got a ton of ‘em”)

So (‘you ask): “Well, should I seek the advice of an attorney or not?”

Yup you should! Indubitably as a matter-of-fact (so say I)! However, do be sure to choose a truly competent one who has experience with land trust transfers in creative real estate transactions. And if they start talking about Lease Options, Lease Purchases, Land Contracts (Contracts for Deed), Wrap-Around Mortgages, Equity Shares, Subject To’s or Silent Seconds…run! Run like the wind!  (Unless, of course the attorney is your brother-in-law…in which event the dilemma will be yours: either act on bad advice, or…divorce).

Are there any attorneys you could recommend?

Who me?  Thanks for asking, but No. Although there are a few with whom I’ve become familiar over the years who do understand the concept (albeit a limited few, to be sure): Bill Bronchik, Denver Colorado; Mark Warda, Ft. Lauderdale. Florida; Bryan Dunklin, Dallas, Texas; Jay Swob, Cincinnati Ohio; Henry W. Keno, Chicago Illinois (‘but he’s been dead for over 25 years); Paul De Witt, Los Angeles, California.

Some attorney quotes:

In answer to “Why aren’t there more attorneys who know about land trusts?

“Because very few know how to use them, and even fewer recognize the myriad benefits.”

Mark Warda, Attorney, Florida

If you can’t find the expertise [i.e. ‘when seeking a competent attorney re. land trusts], you have no choices but to keep on looking, or take upon yourself the task of trying to educate your advisors and counselors.” Good luck with that!

Jay Douglas Swob, Attorney, Cincinnati

“Another problem with using attorneys is that most have a negative attitude about anything with which they are unfamiliar. They’ll probably advise against using a land trust because they [themselves] don’t understand it.”


 Bill Bronchik, Attorney, Denver, Colorado


“In that the ‘land trust’ is less frequently used outside of Illinois where it was first created [circa 1920], it is unlikely that many attorneys will be immediately familiar with its benefits or unique structure.”

Henry W. Kenoe, Attorney, Chicago, Illinois
Keno on Land Trusts, IICLE, 1989

“No! Don’t do it! Oh M’god! These can only be done in Illinois. They violate the Doctrine of Stepped-Transactions. Lease tenants can’t take tax write-offs. ‘You crazy?  No court in the country would see such a thing as a conversion of real estate to personal estate! Doctrine of Equitable Conversion?  What’s that?  Run Gertrude, run! Run like the wind!

But wait! Before you rush off, Gertrude, let me create a nice little all-inclusive (wrap-around) mortgage for you instead. It’ll do the all the same things and I’ll only charge you $2,000.”  The Due-on-Sale Clause? Oh, don’t worry about that…’lenders hardly ever pay any attention to those things.  I’ll build in a nice exculpatory paragraph anyway (i.e., ‘so you can’t sue me) and it’ll be in bold print.

Could the buyer get the property embroiled in a lawsuit or tax lien while you’re still on the mortgage and unable to make the payments or sell the property?  You ask.  Well, I suppose so, ‘but that hardly ever happens either (‘mumble-mumble’)…’so don’t worry about it (…‘cough-cough).

Could you evict the buyer if he doesn’t make his payments? Well, no. But, hey, there’s always judicial foreclosure, Unlawful Detainer, Ejectment and Quiet-Title action: which I will be more than happy to handle for you (…at, oh, say, $325 per-hour plus court   costs…’no guarantees of course).

Huh? “Would the property be tied up in the other party’s Probate proceedings, if they die?” Well, um, yes, but most people don’t ever die: but even if they were to that, doing so would just be a matter of another paycheck for me, ‘now wouldn’t it? I don’t see any problems here“

Anonymous Lawyer, Riverside, California.

There is no person on earth who is more apparently knowledgeable about the law than an attorney who doesn’t know what the hell he’s talking about.”

Bill Gatten Seminar Leader, Henderson, Nevada

Bill Gatten, the author of this article, is in no way engaged in the practice of law, or in rendering other dependable professional advice.  If legal or other expert assistance is required, the services of a competent professional should be obtained. Do not expect Bill Gatten to know anything (‘about anything).

ANOTHER NOTE: ‘Want to get your client’s and their attorneys to do the right thing? Give them a copy of the article. ‘Especially this part:

If a physician thought like many attorneys do:

“A brain tumor eh?  Well, I don’t know much about the brain, so how ‘bout I treat you for hemorrhoids instead? Here. Take this. Insert it carefully. Pay me. Call me in the morning, and if this cure doesn’t work…’great, just let me know and we’ll switch to still another malady (“I’ve got a ton of ‘em”).



I don’t mean to sound maudlin or too “new-agey” here; but the one bit of magic that I have managed to glean from my three quarters of century on this wobbly little planet of ours is that WE as individuals are absolutely in-charge of everything that the universe has to give. We are not only in charge of our own destinies, but also in charge of the very clockwork that is the Universe itself. Although most of us live our lives wholly oblivious to that fact, we none-the-less are in absolute control of our health, our fates, our bank accounts, our aspirations and even the aspirations of others (…i.e., the collective needs of the world at large).

Think about it. Didn’t we (you and I together) send a man to the Moon and stand with him behind the cameras in awe as he took what presumably was humanity’s first step on another planetary body?

Didn’t we send spaceships and video cameras to all the known planets? Didn’t we invent cures for Diphtheria, Polio and Malaria? Didn’t we build the Hubble Telescope and put it into orbit around a beautiful, blue inhabited water planet in a remote part of a remote galaxy among billions of other galaxies like it…’for no reason other than because we wanted to and felt that it necessary?

Didn’t we harness the very electricity that once was the scourge of humanity, but which now is enabling demi-godly evolution of the Information Age and our personal lives on a miniscule remote planet in the vastness of virtually endless space?

Of course we did! You and I did that!  ‘And I couldn’t have done it without you!

There is no single individual anywhere on Earth who can take credit for any of our modernity…it is humanity that did it all, and it will be humanity who travels to the stars for our species’ exploration and relocation.  It us YOU and I who will one day cure all the diseases of mankind including the aging process. And that’s exactly who YOU are, and what WE are capable of doing.  Each of us is a crucial piece in an enormous magnificent jigsaw puzzle that never can be complete without every single tiny piece being in its specific place, supporting the entirety of the whole.

As individuals, we need only to be aware of, and in tune with, all of it, remaining steadfastly aware of all of it in order to use all of it and take credit for it. With each and every one of our achievements, somewhere along the line, a solitary individual with a burning desire to do a thing that alters the entire Universe forever—’with a little help from all the rest of us—’simply DID SO…’because he/she chose to do so, and because they knew for sure they could…refusing to acknowledge other people’s perception of the assumed insurmountable” obstacles and impossibility of a dream ever manifesting out of purest imperceptible Potential.

  • “You’ll never get mail from Los Angeles to New York in a single day!  There simply is no man or horse that can run that fast! 
  • You’ll never put a man on the Moon or Mars…’there’s nothing to breath when you get there!

  • Traveling to another planet is impossible.  There’s no atmosphere in space, and therefore nothing for a propellant to push against in order to create an “equal and opposing reaction”!
  • There are no other universes! We have the Milky Way, and everything that exists is right here in it! Oh wait! What are all those little specks that lie beyond the Milky Way.  Oh crap!  ‘Back to the drawing board it is!

Here’s my own little success affirmation (‘as it were…’call it a mantra if you wish?), which, by the way, I have taped to the dashboard of my car, my bathroom mirror and on the back of my TV remote (‘with which I spend entirely too much time) and I’m in the process of having tattooed on the inside of each eyelid.  If you want it, it’s yours too. I honestly have to say that it’s done alright by me. But here’s the caveat: If you read it over once or twice and think you understand its full meaning, you will be wrong…’like any expertly cut diamond, it’s far more multi-faceted than it might appear to be to the casual observer:

I  am in tune  with,  and solely in charge of, the abundance
and   the essence of, Life, which constitutes the purpose of
humanity’s existence. I will, therefore, prosper and stand
conspicuous in the most spectacular of ways…   ALWAYS!

Dr. Tom Johnson, C.O.R.S.

The core message here is that whatever it is that we choose to have, ‘if we truly want it (need it or not), it will be given to us on a silver platter when we know with certainty that having it is our absolute right; and when we honestly ‘expect’ to have it. We can pray for it. We can hope for it. We can wish it upon ourselves. We can ask Santa for it. But if we’ve already tried all of that, and are weary of all the mewling and moping and hoping—and if we are sick and tired of screwing around and being ignored while waiting for the good stuff that others seem to have more of than we do: then we must dig in, rare back and scream (i.e., holler, bellow, bawl-out, yell).

This to say that we have no choice but to tilt our heads way back and proclaim, from the diaphragm through, to, and beyond the uvula,’ as loudly and sternly as we can, that what we want is already ours and by damn, we’re going to have it…NOW!

Its funny, I know, but sometimes God just doesn’t appear to hear real well when needs are whispered as prayerful little “poor-me” supplications. But when they are boldly demanded with sternest, self-assurance, he(she?) smiles and says: ”Well, sonovagun, ‘alrighty then! You finally figured it out! It’s about time!”

When you’ve asserted yourself in this manner (figuratively or literally)…and really mean it…my solemn promise to you is all that you honestly command into reality via Need versus Hope, will indeed appear… ‘and sooner than you think. ‘So be ready!

The most closely guarded secret relative to obtaining is not the fact that if you truly want it and have a good reason, that it will be given to you.  There’s a far more valuable “tool” that we need to understand.  Personally, I can remember my “poverty days (my own)” of not too many years ago, when I thought repeating my mantras and my affirmations daily (to myself)…with stern conviction…and paying larger tithes than I could afford, would bring me financial relief. It did not. It didn’t do diddly-squat (‘so to speak) in that regard…’ until I figured out the solution to the enigma.

The enigmatic mystery all along was simply that if you don’t think you deserve it, no matter how badly you want it, and no matter what you do to get it, you will never discover that it is already yours and just waiting for you to summon it from potential.

Whatever it may be, you must NEED it (burningly) enough to demand it with every screaming fiber of your body and sou and MEAN IT.  And, until you do exactly that, your plans for achievement remain undefined and cannot allow the Law of the Universe to “know” what the hell it is that you think you’re supposed to have.

Consider walking up to an airport ticket counter and saying, “I’d like a ticket please.” The ticket agent then asks, “’And where would you like to go?”  Whereupon you reply: “Well…someplace better than where I am right now, ‘that’s for sure.”

Think about it…how far are you going to get before your realize that you need to get a lot more specific.  You “need” to refine your objective and know for sure exactly where you want to be. You also must know when you’ll be prepared to leave and when you’d like to arrive, and what your surroundings should be like once you get there. In other words , forget about where you WANT TO GO and determine instead where you NEED TO BE!

The resolution of the “enigma” then is: ‘Know with certainty what you want; brashly demand it without apology; know that it is already yours to have; expect it without embarrassment or doubt. Then, Voila! It’s on its way and you can’t stop it. Just be very careful what you pray for…because when you really mean it…you’re gonna get it!

But wait! There’s still another catch. There are a few things you must to do first in order to get aboard the Achievement Train. These items are not necessarily daily exercises, or life-changing goofy stuff that you can’t live with for long, and which embarrass your friends and family when they see you doing it. But they constitute the “catch” nonetheless, and are summed-up very succinctly in the following quote by Louise Hay:

In order to eliminate [any] ‘scarcity’ in one’s life, one must identify and relinquish some [veiled] self-serving need that relies upon that scarcity for its fulfillment

In analyzing this simple, life-altering truism, it becomes obvious that if, for example, one were to desire to, say, lose weight, he or she would have no choice but to give up something desirable but unnecessary. For the weight-challenged, take your choice: any two of the following will do (and you can keep all the rest)—’those scrumptious high calorie foods; ‘that insulin-spiking dietary starch; ‘that satisfying couple’a cold beers every evening after work (‘Oh God! Please! Not the beers!); ‘your sedentary lifestyle; or… ‘a blissful couple weeks of not exercising.

Another prime example of a deeply hidden self-serving need that relies upon a scarcity for its existence is “Failure.” In other words, many people actually choose to fail: I.e., “If I don’t attain success, my need to bitch about everything and blame others for my deficiencies won’t be impinged upon, ‘and I won’t ever have to face the prospect of…’well, ‘failing.   In other words, if I don’t try, no one can say I failed; and that way, I won’t have to come back for an encore (…and that’s very important, because even if I did accidentally succeed once, who’s to say I could ever sustain the roll I was on, and be able to do it again).”

For the same reasons, if one wants to lose the depleted bank account, and the monthly late-notices (“friendly reminders”), then he or she has no choice but to firmly resolve to give up something. ‘For starters, how about giving up, say, a couple hours of TV watching per-evening, two or three of those leisurely Saturday afternoons per-month? How about giving up the safety inherent in declaring that you don’t like cold-calling? Or perhaps letting go of that that fattening poverty- building, ‘oh so soothing propensity for procrastination;

As Dr. Wayne Dyer says in his educational course by the same name: “YOU’LL SEE IT WHEN YOU BELIEVE IT!”

For our purposes, the key is simply to understand, once and for all, that in order to become successful in Creative Real Estate, ‘especially as it pertains to the Equity Holding Transfer™, you don’t have to change your lifestyle, your religion, your spouse, your girth or the way you pluck your nose hairs. You merely need to identify and select a few of those replaceable Self-Serving Needs, ‘and resolve to abandon them in favor of diligently taking for yourself that which you REALLY want out of life.

Honestly, do you think your God will mind if you rare back, scream out boldly, emphatically and demand that “he” give you what you know with certainty that you truly deserve?  No!  ‘Any God who, in fact, would be offended by any starving soul raising his/her  voice in dire need is really not a very good God.

Imagine, if you will, a devout and truly virtuous preacher in the process of drowning in lake with others watching?  ‘Do you think his dire entreaty for salvation is going to be whispered softly in order to avoid offending God?  Hell no!  ‘You’ll hear him twenty miles away vociferously demanding the life that he knows with certainty he deserves, and of which he is about to be deprived!  In this analogy the preacher knows without question what he want at that moment, ‘and he damn-well ain’t screwin around with platitudes and sweet-talk!  In such a dire circumstance I am positive that any caring God would never resent even the busting of an F-Bomb or two somewhere along the line.  If you’ve ever felt that you were about to drown and weren’t much of a swimmer, ‘you know exactly what I’m talking about.

If you’re about to drown financially…’now you know what to do about it!



March 14:

I received a call from my partner’s bandit sign (“I Buy Houses, Full Price, All Cash or Terms Any Condition, Any Price”)

The caller was a Mr. Sam Brown who says he has a house in Mission Hills, California that is worth maybe $150,000, but which has a $164,000 loan on it and work to be done. I asked him “what he would like to see happen.” He says he is just looking for someone who would take over his payments. I then ask how much work needed to be done. He says maybe $10,000 worth. My comment is: “Woo Doggies!”

Next, I ask how far in arrears his payments are. He indicates that they are current…’for the moment anyway. I then ask what he would do if I were not able to help him. His comment is that he just wants to walk-away, and that he has no cash and will not be making any further payments, irrespective of whether or not I take the house.

I tell him that I’ll call him back the next day after checking the title and getting some comparable value information together (comps). The comparable sales in the area show the property to be worth perhaps $155,000.00 to $160,000.00 after fix-up (‘still no equity for me).

March 15:

I call Mr. Brown and arrange to meet him at the property that same day.

After seeing the mess (broken windows, a yard full of trash, weeds up to the windows, windows frames that didn’t meet the walls, peeling linoleum on the floors, dry-rot and termites), I comment to Mr. Brown that I can see that he is truly in a pickle on this one…he agrees and reiterates (in case I didn’t hear him the first time) that he has no money and has no choice but to let it go back to the bank if I don’t want it.

After inspecting the house, I determine that actual costs to bring the property to a reasonable cosmetic condition (with good, but cheap, labor and parts) might run no more than $6,000 to $7,000.

I reason, as well, that by keeping the loan in place and asking for $10,000 up front from a resident co-beneficiary on a 50:50 equity share, I can get all the work done and perhaps have a little left over. I figure I can advertise it at $165,000 and perhaps be able to start out at break-even (without cash out of pocket) and with a couple thousand in my wallet.

I then have Mr. Brown sign a 15-Day Option to give me 15 days before I have to make my final commitment (I try for 30, but he’s afraid of having to make another payment…I know, bad logic…he was never going to make a payment anyway).

Upon handing him the NEO (Non-Exclusive Option) to sign (i.e., ‘with a twenty-dollar bill stapled to the front), I also give him an unsigned copy of the Offer to Acquire (both documents available on this site), ‘explaining that the twenty-dollars is just for legal consideration (‘not really necessary, but stops a seller’s inquiring about an Option Fee).

March 16:

I beat it to the county court house and record a “Memorandum of Option,” then over to the newspaper office to run my ad:


3 Pmts and Clos. Costs
Moves you in. Nice $165K 3+2
Home. Needs TLC. xxx xxx xxxx

March 18:

I have my friend “Old Unemployed Bob” put a coat of gray paint on the front of the house and have him frame all the window and door openings with 1 X 6 boards which paints a nice bright white. We (Bob and I) pick up all the trash that is in the front yard…’and throw it all in the back yard.

Next, we Roto-Til the front yard and plant some flowering bushes along the front of the house and along the walk. ‘After two or three hundred dollars at most, the house looks quite “cute and cozy (as they say)” FROM THE STREET (‘called “Curb Appeal”). The plan THEN (and only then) is to begin working on the rest of what needs to be done, in hopes that someone might just drop by and offer to do the rest of the work for a reduction in price, before I’ve had to spend much more money.

March 20:

Bob dismantles the “things” that will eventually have to be repaired (e.g., ‘pulls the tub away from the wall where the dry rot is, removes the window sills that don’t meet the wall, takes the doors off the kitchen cabinets that are to be resurfaced, etc. (‘no hard work, ‘just partial dismantling …’thereby creating the illusion of “Work in Process”).

Note here that even though I haven’t exercised my Option, I’ve only spent about $400 at this point for everything.

March 24:

After the front of the house is cleaned up, and once the ad hits, the phone calls start hitting my voice mail, one after another. I return all of the calls and repeat the same mantra over and over again with every caller:

“Yes, I have this great little house over there on Blyth Street in Mission Hills, and if you can afford the nine or ten thousand that it’ll take to get in, and the $1,200 or so in monthly payments…after adding tax and insurance, of course: I’ll just GIVE IT TO YOU (pause). The only thing I want out of it is to have you put the loan in your own name, ‘or sell the property in a few years, and at that time, IF there’s been any appreciation we can just split it.” (NOTE: If they don’t like the ‘split appreciation’ idea, you can say: “No problem. If you’d prefer, you can come in with $19,000 instead of $10,000 and you can have it all.” They invariably want to get back the $9,000 deal.)

With each caller, I tell them that the house is being worked-on at the moment, but that if they want to see it, they have to come “with their rose colored glasses on,” because it’s a real mess at present.” I tell them that we haven’t had a chance to do much of anything yet…’or even haul off the trash.

Then when they show up, I make sure that my buddy Bob has tarpaulins and plastic sheets spread out over the floors and counter tops, and that paint cans can be seen in various places (‘needs to look like something’s going on). With all of the callers, I tell them to drive by the house first and then call me if they like what they see (from the street) and have an interest in it.

Remember…the place looks great from the curb: I want them to see it from the street, and then begin rationalizing all the shortcomings, and building-up their “want-to” while they sleep that night).

March 26:

The fifth or sixth caller calls back and asks if we can meet at the house to work something out. Maybe 7 or 8 others have said they’ll drive by, but haven’t called yet. I know we’ve got a live one at this point.  So I once again remind the prospect that the house is a mess and that he’d better have a good imagination for “potential” and for what things COULD BE, rather than what they ARE. He laughs and agrees, and we meet.

After an inspection of the mess, he asks when I might be finished with all the work…I tell him maybe as much as a month or two at most (I know he’d like to move as soon as possible). He seems discouraged, but I then tell him that if he’d like to finish the work himself, I’ll knock a couple thousand off the price and, another $2,500 off the $12,000 I need upfront to get into the property.   He now can get in for just $10,000 plus the first payment when it comes due).

I fill out an Offer to Acquire from him to me–and have him sign it and accompany it with certified (non-refundable) funds in the amount of at least one full monthly payment obligation $1,200.00 (‘could be any amount you specify).

March 27:

I return to Mr. Brown, the seller, in order to give him my signed (‘and already accepted) purchase offer. First, however, before giving him the paperwork, I tell him that the property is a lot worse than I had first thought. I see him wince a little. At that point I tell him about the termite problem and tell him that he’ll need to pay the $2,000 for the tenting and spraying, but that I’ll take care of everything else. He heaves a sigh of relief and agrees, ‘assuming that I’m paying the $10,000 that he estimated the refurb to be, and that I’m also paying all costs of marketing (‘when anyone says they don’t have money, ‘what they mean is: “Well, I have some, but I don’t want to spend it unless you pull the right levers).”

April 1:

The property is tented…at Mr. Brown’s expense. The poison is sprayed, the termites begin singing “Cum Bah Ya” as they grow weak and are no longer able to hold hands; and as their grip fails and their little arms fall to their sides, the house crumbles and falls down (‘No, just kidding…they all die and go to termite Heaven, I’m sure).

April 10th: 

I complete the paper work for the “Blyth Street Land Trust” and have Mr. Brown execute the document (‘as the only beneficiary at tht point): thereby appointing Equity Holding Corp. as the trustee.

April 11th:

I complete the “Assignment of Beneficiary Interest” agreement from Mr. Brown to my resident co-beneficiary and me, and then complete the “Beneficiary Agreement” between us.

The Beneficiary Agreement designates our respective percentages of ownership of beneficial interest in the trust as: 10% retained by Mr. Brown; 40% to me; and 50% to the Resident Beneficiary (Mr. Seabury). However, I arrange to have it stipulated in our agreement that Mr. Brown will forfeit his 10% to me and any claim to profit, at the trusts termination (‘I just need him to hold onto it for now in order to avoid the current lender’s due-on-sale admonitions; any reassessment for property tax; and payment of Transfer Tax (i.e., ‘there has been no sale of the real estate, ‘only a transfer of beneficiary interest in an inter vivos trust—personal estate).

Note here as well, that I leave Mr. Brown with 50% of the voting rights so as not to invoke property tax reassessment and conveyance tax: however, I receive a Power of Attorney from him in order that I might vote his rights, and not have to involve him in management decisions.

May 1st:

The resident co-beneficiary brings the rest of his money in, ‘executes all documents, ‘makes his first payment on the contract and is given the keys to the property.

May 2nd:

The deed to the trustee is recorded; a triple-net lease agreement between the Trustee (Equity Holding Corp) and the new Resident Beneficiary is executed; and he (the RB) and his family move into the property and the work on the property is begun (‘i.e., the RB “takes possession”).

All signed documents are sent to the trustee, who retains the collection service (Equity Management Services) who, without charge, begins payment collections and disbursements for the term of the agreement.

May 4th:

I receive a check in the mail for $10,000 including a mandatory one-month Contingency Fund (to be used for eviction if it is ever needed).  Now, when the trust and the accompanying triple-net occupancy agreement terminate, the property will be sold or refinanced by the Resident Beneficiary.  And as all costs of sale are paid; I will get back the equity that I carried (the difference between the loan amount at start and the $160,000.00 “Mutually Agreed Value” at inception (the MAV); the Resident Beneficiary will receive a refund of his original $10,000, less any recurring costs, whereupon all remaining proceeds will be divided equally between he and me.


So far (2 years into the deal), that property has increased in value to about $210,000; I receive a $100.00 p/mo. positive cash flow each month; the loan has paid down by about $3,600. I therefore have earned approximately $33,000 on what was an over-encumbered property that no one else wanted, and which involved No Down Payment from me  (‘just a refundable Contingency Fund from my Resident Beneficiary partner); No Credit Application; No New Loan; No monthly payments (for me); No Management costs; No Maintenance Costs, No Up Keep or Refurbishment costs.

Furthermore, the lender’s due-on-sale clause was not violated; the property is protected from creditor claims and tax liens, bankruptcy; marital dissolution disputes and Probate should any party die.

By the way, when this property sold three years later, it sold for 210,000 and my Resident Beneficiary and I split a bit more than $50,000 (‘along with three years of positive cash-flow and the money was paid up front).

Cool, eh?

Would you like an excellent coach and lifetime mentor to teach you how to do all of this this with virtually every type of real estate, ‘while safely, legally, efficiently and silently mirroring every (any) type of Creative Financing system, without any of the risks and down-sides (‘i.e.: Straight Lease, Lease Option, Lease Purchase, Straight Lease with Income Tax Deductions, Contract For Deed; Land-Sale Contract, Equity Share, Wrap-Around Mortgage, etc.

Bear closely in mind that we do ALL of this without a Due-On-Sale violation; without compromise of Dodd-Frank (Owner Financing) legislation; without creation of an Executory Contract; without the need for a new loan; without standard credit qualifying; without escrow; without typical loan approval and underwriting delays; without a mandatory need for new title insurance.

And closings can take a little as a week or less.

[OK, in all humility, I may not be singularly the best investment coach and mentor in the world: but, seriously, ‘how can I argue with the many thousands who insist that I’m wrong about that?].  ;o)