Home › Forums › General › EHTrust/EHT Topics and Creative Real Estate Financing › MAPS tsunami
January 30, 2011 at 1:56 pm #6639
Scott , et al.
Notice [if you get a lot of unsolicited email] that ‘evertbody and their brother’ is now prompting MAPS or M.A.P.S. …..
I haven’t watched or studied the videos. What is everybody excited about?
It’s being marketed as ‘make 8-12k per deal’ —-No Money, No Cash, No Credit ad nauseum.
As someone said, what they have is a good marketing program. To that end, absolutely.
What’s up with OUR marketing program? Most want to become phd’s in real estate and end up overwhlming the sellers/buyers. The archyives in this board prove that repeatedly. Yes?
In my experience, working with MOTIVATED sellers and MOTIVATED buyers [not the terms used in EHT in that there is not a sale] they typically don’t ask and there is no need ‘to tell’.
i have yet to be in any transaction that couldn’t be challenged by other outside parties and even if they do may not win. But, try they do, on occasion. I am gonna bet that any of you involved in transactions have seen this. I have . The reasons are too many to cover here. I will hasten to add that has not been my exp with landtrusts or EHT.
My experience has been [50 years of it] that if the deal can go right it will. They usually do so, even with NayNay Birds , Weasel Clauses and just plain illegal aspects. And lawyers out to earn their fees. So too with the many avenues of realty transactions outside of the EHT territory which have many fruitbats lurking that COULD kill the deal and don’t. Because somebody engineered a win-win transaction.
I experience Realtors/Brokers who write ‘crazy’ intentions into residential deals frequently. Most of them in escrow close even with the pitfalls/traps.
how do I know? Been there. Many transactions are created and written on a wing and a prayer. That’s the beauty of transactions involving motivated sellers and buyers. Imo, all parties including agents/brokers go along with trusting, hoping and wishing.
What I have added to the mix here may ignite some fires or ‘induce the juice’.
Cognitions UnlimitedJanuary 30, 2011 at 5:08 pm #33431
I am getting about 2-3 emails a day about MAPS. I believe they are getting my address from my FaceBook page. I chose to make that email visible, so, I don’t complain, just delete.
Now my opinion (at risk of getting slapped again).
It starts with the name; MAPS sound official, like MARS, MHA, HAMP, HAFA, TARP, etc. The EHT falls flat, especially when you describe what it means.
All in the name, Mortgage Assinment Profits System screams “MAKE MONEY”. The NARS Equity Holding Trust Transfer screams “WTF is that!”
MAPS is a system and the EHT is the right TOOL to use for most real estate transactions beyond the buy/sell method. You can mimmick all kinds of real estate transactions with the EHT and still be safe.
Now, MAPS is marketing virally through the Social Media sites this rehash of old news at the right time to get everyone’s attention.
90% of the members here are still trying to understand what EHT means.
MAPS as a simple to follow program well into the Dot.Com world.
EHT is best by word of mouth. It does not and should not work well virally, it is not a system but a tool.
MAPS violates the lender’s contract EHT doesn’t
MAPS forces a foreclosure for lack of payment, EHT you simply evict.
MAPS leaves the property somewhat open to legal issues, EHT protects.
MAPS has the mortgage holder (original owner) create a lean for the balance due to show there is no equity for an attorney to attach to. I’m willing to bet a decent attorney can see through this. And,even with no equity, the IRS will attach a lien to the property. Seen that one before. EHT protects the property, even from an IRS lien..
MAPS transfers the deed to the buyer. EHT transfers the deed to the Trustee in a revocable trust where the beneficiaries direct the trustee. The trustee himself cannot do anything with out the direction of the beneficiaries.
You will have a much greater chance of the home NOT being wrecked in the EHT than a MAPS transaction.
I believe I also read the in the MAPS they report to the credit bureaus, so, if the new owners are late or the need to foreclose occurs, the new owner’s credit could be severely damaged. With the EHT, just evict, no credit issue to the RB.
With MAPS you only get the money from selling the Option. Which leaves the seller holding the bag should things go wrong. Anybody want to bet that will come back to haunt the Optionee?
With the EHT you can get cash up front, monthly cash flow, equity sharing, etc. You are a co-owner of an investment property (AN IB).
Despite its’ not so clever name, I’ll take the EHT over MAPS any day.January 30, 2011 at 9:40 pm #33432
“MAPS” has nothing on the EHTrust. In fact, I submit it is very dangerous. If you like the approach, material, marketing, etc., USE IT. Just use the EHTrust documentation instead.
What ever you do or want to do, JUST DO IT! But, when it comes time to document your offer and transaction, use the NARS EHTrust Documentation.
This business is so simple when you use the right marketing with the right documentation.
NUFF SAID!January 31, 2011 at 6:28 pm #33433
“this business is so simple when you use the right marketing……”
Isn’t THAT the goal. The Right Marketing.
c hJanuary 31, 2011 at 7:23 pm #33434
Article on Warning Against MAPS.February 1, 2011 at 3:44 pm #33435
It is amazing to me the number of new ideas being brought to market every few years. As the old is proved to be problematic a new appears, much of the same with a different twist. Yet we do what we do quietly and do not change. Seems we have strength and we need to play that up
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