After some extended poking and prodding from my friend and business associate, Josh, I have agreed to commit to releasing “The TurnKey Investor’s ‘Subject To’ Mortgage Documents Collection” later in 2007.
Josh is preparing to enter the world of “subject to” mortgage financing and found himself in the position of wanting baseline documents for his own operation. I tried to talk him out of it and explain how impractical it was. My feelings were if that I released such a documents collection, it would encourage people to do their own closings (vs. using professionals) which would fundamentally go against what we are teaching. And I want no part of that.
However, he made some valid points that people still need some baseline documents for their own knowledge. Further, if a closing attorney or title company closed his deals, they would still need instructions and a baseline set of documents to work from. The alternative to NOT have a set of baseline documents can potentially be disastrous and/or very expensive.
Additionally, my involvement with The Investors Roundtable of Columbus has shown me that my students will quickly and eventually reach the same point as Josh and I will be further “pressured” to release some set of tools or documents to assist them in their “subject to” mortgage transactions.
Do I say “forget it” and say fend for themselves? The answer is “no”. In good conscience, I really can’t do that given I have already 3 titles released already. I have to do a 4th title in the form of a manual.
It was easy for me to say “no” when people emailed me in the last couple of years. However, it is way harder to say “no” in person.
And so, given all of this, I will move forward on this project. More importantly, this product will become essential because it will have a written Set of Closing Instructions for closing attorneys and title companies. Along with the manual, there will be a CD-ROM with Microsoft Word documents and MP3 audio files which explains the purpose of each document and how they should be used.
Pricing has not yet been set. However, it will not be any more expensive than my prior Documents Collection product, “The Turnkey Investor’s Lease-Option Documents Collection”.
