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Lou Brown:
Hello everyone and welcome to another Street Smart Group Q and A where you send in a number of questions that I plan to get to today, but first I wanted to update you on the latest that I’ve heard on the neighborhood stabilization program. You know it’s amazing what our government is doing right now to try to stabilize the incredible housing market, and I say incredible because it’s great for us. We’ve got so much opportunity to put folks in homes and give them an opportunity to someday own that home with our program. Remember that our program really provides that, rather than just being landlords we give people an opportunity to someday own that home and as a result of our rent to own and owner finance programs it really attracts a whole different group of people with a whole different mindset. Better quality folks that are willing to buy properties in better neighborhoods. They’re willing to give us money down. They’re willing to take properties in as in condition and do work in order to earn credits. They’re willing to stick with us. They’re willing to make payments on time. They’re willing to take better care of their property and all these things come as a result of your offering a program that is desperately needed in today’s economy.
Lou Brown:
Hello everyone and welcome back to another Street Smart Investor Training. This is our Group Q and A that we do twice per month and I welcome you to take a look at what’s happening in the marketplace this time. Isn’t it amazing when you just look at the craziness of the stock market and you look at the craziness of the things that they’re doing to investors? We just smile and wave when we know that our Street Smart System works beautifully in this market. In fact, it works better in this market than it does in a buyer’s market. We’re just so excited buying properties. We have several Subject To’s that we’re closing this week. We have several that are owner financing and probably by a week from now we’ll have five under contract.
Lou:
Hell, everyone, and welcome to another Street Smart Group Q and A. Tonight, I’ve got a very special treat for you. We have a Mastermind meeting going on right now in Atlanta, Georgia. Many of you have heard about our Mastermind Program and now you have an opportunity to actually hear the Masterminds at work. What I’ve asked them to do is actually be the questions this week and come up with questions that I haven’t seen and I don’t know the questions. They can present them to me and I can give you the answer. You’re going to get the benefit of hearing exactly what’s on their mind and the answers to those things tonight.
Lou:
Hello everyone and welcome back to another session of our Street Smart Group Q&A. You sent me a ton of questions. Before we get started I Just wanted to say that this has been a fantastic year. I hope it’s been a great year for you. Taking a look at what is happening in our economy; a lot of people are running scared. It’s just truly amazing how many questions I get about today’s economy. So let’s talk about it for just a second and say, I hope you are looking for houses right now and I hope you are finding them. Because sellers are willing to do things that they haven’t been able, or willing to do for many, many years. Right now, there is a lot of them that are motivated having sat on their properties. Having waited for the market to come back, and now discovering that the market is not there, and it is not coming back for a while. Sellers are backing up. To give you a story, we just bought condo and many of you have heard me at jump-start, explain that I am not crazy about condoms and we are not interested in buying condos. The only way I will by a condo is if it’s very cheap.
Lou Brown:
Hello everyone, and welcome back to another installment of our Street Smart Q and A. Where you have sent me a ton of questions. I’m excited to answer all of them for you. Before we get started, let me just recap what’s happened over the last couple of weeks in our economy. Tell you that, I think that, a lot of things are on hold right now waiting for the elections. I don’t think it’s really going to make a difference who gets elected in terms of things turning around. I just think that a lot of things are on hold.
Bruce Beasley:
I’d like to welcome all of the Street Smart licensees to our group Q and A session for May 13th, 2008. And you can tell already that this isn’t Lou Brown. This is Bruce Beasley. I’m sitting in for him while he vacations in Mexico. I thought I would start out by giving you a little bit about my background. I’ve been working with Lou since 1992, so that makes this our 16th year together and helped Lou develop the entire Whole Enchilada Series and am a real estate investor in my own right. I’ve bought as many as 82 properties in a single day and I currently hold 34 properties, most of which are…well, they’re all single-family houses. About two-thirds of them are out on Lease Option and 11 of them are out on Agreement for Deed. I am co-author with Lou on the Lease Option course and on the Agreement for Deed course and I’m a contributing editor. And that gives you a little bit of a background. I spent 20 years as an airline pilot and so checklists are a way of life with airline pilots and that’s where a lot of our checklists philosophy comes from.
Question:
I’m going to get started right away with Laura who had a burning question from South Florida. She says she sent it several times. So, I want to make sure that Laura knows that we got her question, and we are going to give her an answer. She’s the first one that gets an answer tonight.
Group Q & A January 9, 2007
Lou Brown:
Question:
J. R. says, “As you already know about the legislation relating to lease options in Texas, I was told there was a way to achieve the same results using land trusts. Would you happen to know…how that would be possible?”
Question:
Velva in Apoca, Florida says, Happy Holidays Lou, the Brown family and wonderful staff.
She says, recently you advised if a Tenant Buyer is going to lease option and only has $3,000 down to take a Promissory Note for $10,000. How much time would you give to pay back that Note and how much a month?
Group Q & A January 23, 2007
Lou Brown:
Question:
Which is the first action to take to start your business? Build a buyers list or obtain properties?
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