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In this episode of “The Most Dwanderful Podcast Ever!”, Dwan is talking to us about something She ran into for the first time in her 30 years of real estate investing, land contracts. When her “lil-mama” passed away, Dwan had to help her Dad navigate through a land contract that he had entered into with one of his granddaughters. Dwan quickly realized that there was more than meets the eye and reach out to a friend to help wade through it. Dwan talks about the pros and cons, in her opinion, of land contracts, and when they might be useful and when you may want to avoid them.
Dwan also issues a life equity Challenge that is close to home for her right now. Help someone else by picking a ” Go fund Me” to donate to. Right now, that has been a Godsend to her and Bill. Don’t wait to make a difference in someone’s life. You can learn more about what Bill and Dwan are facing by visiting their Gofund Me, https://gofund.me/d6138b31
Dwan also encourages you to visit www.dwanderful.com to get some free goodies and to stay up to date on the real estate world. Don’t forget to subscribe and leave a “5-Star” review!
- :50 Welcome!
- 1:30 Investing is a terrific way to earn a lot of money
- 2:50 Drinks with Dwan – Wine!
- 3:53 Dwan reads reviews from Angela Johnson and Michael Harper
- 6:23 Talking about land contracts, just learned this within the last 60 days
- 8:47 Here is how they came into play for us recently
- 9:04 How a land contract works, got some help from a friend
- 11:23 It has to go through probate
- 13:00 The Pros and cons of a land contract
- 14:28 Land trusts keep the deed out of public record
- 16:14 You can name it anything you want
- 18:05 2 page contract and the deed never changed
- 19:50 It’s a good way to help family
- 21:08 The big negative is…probate
- 22:49 Liquidate all assets
- 24:18 A judge doesn’t care about the land contract during probate
- 25:30 Just from my one experience
- 27:20 Hope nothing crazy comes up
- 28:00 I wouldn’t buy using a land contract, but I would sell using one
- 28:50 Whoever owns the deed owns the house
- 31:53 In my 30 years I’ve never done one?
- 33:04 Dwan issues financial life equity
- 33:30 You don’t have to be rich to help another person
- 35:45 www.dwanderful.com to get some free Stuff
- 35:51 The truth is in the red letters
Connect with Dwan:
https://www.facebook.com/Dwanderful/
https://www.instagram.com/dwanderful/
