How to buy a Real Estate Using MAPS

How to buy a Real Estate Using MAPS

How to buy a Real Estate Using MAPS

How to buy a Real Estate Using MAPS

MAPS means Mortgage, Assignment Profit System. Phil Grove has just rolled out his system during third quarter of 2010. The original idea behind MAPS was first introduced by the owner of NO-Bank-Red-Tape.com, Mr.Manny Protopapus. The MAPS program shows you an easy way of acquiring property with little or no money and no credit. The MAPS system is a complete marketing system with robust features for generating leads and acquiring properties. Having money is a bonus and will allow you to acquire more properties.

Finding Properties suitable for MAPS

The absolute perfect candidate for using MAPS is someone who is behind on their mortgage payments.There are different ways for getting these lists. You can use the time consuming system used by Phil Grove through traditional marketing methods. Or, you can by lists of clients who are already late on there mortgage. These lists are called pre-foreclosures. These lists come from the credit reporting agencies. Each lead provides address, phone number, credit score and the amount of days late on their mortgage. You can start sending these clients post cards to get them warmed up to the idea of selling their property. Being late on their mortgage payment makes it harder for them to refinance their property. Many of them have tried to get Bad-Credit-Mortgage Loans. They may have been turned down and are now ready to be flexible..

Gathering Your List Of Sellers

Phil groves conventional system of gathering leads may discourage many. In addition, spreading your idea around to too many realtors may only ad more competition for your self. You are better off finding just a few realtors to work with. Try and find realtors that you can trust. You should use the resources of these few realtors. Realtors have access to data bases not available to the general public such as the MLS, Multiple Listing Service. They are also in contact with clients that are already desperate to sell their property. You can split the 6-12K thousand dollar finder fees with the broker. You can close these Realtors deals to help fund the growth of your own business.

Gathering Your List Of Buyers

Gathering buyers is not as tricky as gathering sellers. You can place simple ten dollar adds in your local news paper worded in the correct fashion. Wording is everything. There are proven and tested ads that can be placed in Craigs list and in free internet classifieds. You should use the proven and tested ads so that you don't waste money on advertising. Make sure that you upgrade your ads to get the most exposure. You can close deals out of your state by building associations with realtors from other states. If you live in North Carolina, you can close deals in South Carolina. Many of your buyers have probably tried to qualify for bad credit loans and were denied. That's OK. We have a solution for that.

Purchase Contracts

These purchasing contracts are called non-conventional purchase contracts. I would not encourage trying to create these contracts on your own. I recommend an iron clad contract that protects both the seller and the buyer. The MAPS system does not prepare the buyer to close on the loan. I would encourage you for the sake of the seller and for the buyer to set up your contract to close at some time in the future. This is where my method differs from MAPS. I set up my contracts to close at some time in the future based on accrual of equity and of deposited money combined. I check credit now and use rapid rescore to help increase credit in record time. We set up the contract in such a way as to close when proper targeted conditions have been met. We can use bad credit loans to qualify.

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