I’m new to NARS and I’ve spent a lot of time reading through the forums and other great resources. Because I’m new to the terms and process, where could I get information on the general abbreviations (IB’s, RB’s, etc.) and a general flow of a simple Lease Option process the NARS way? I don’t want to bother anyone in the forum with such basic questions.
Joe, that link was EXTREMELY helpful. Just understanding the terms alone has given me clarity on many of the things that I’ve been reading.
Because I come from the “old school of thought” as it pertains to lease options, I’m aware of the benefit of using land trust with doing LO’s, but I am not familiar with the process. While reading the terms and coming across the term NEO, I see that this is how you tie up a property while looking for an RB. So does this mean as an IB, you would have a trust established prior to locating an RB? And if so, are you, as the IB making payments to the EHC? How does an IB avoid having to pay any fees him/herself?
Just to make things easier, is there one source I would be able to reference to get an understanding of the flow of the transaction from an IB’s perspective, rather than that of a RB or SB specific to LO’s?
Yes there is. Simply go to the homepage and click on the link to the free book, “No Down – No New Loan”. Or, for less than $20, you can go to the “Products” section and order a copy of the new book, “A Fortune in Free Real Estate”.