Originally Founded as Resource Management Services in 1985, by Bill Gatten, former banker, long-time real estate investor, sales trainer and seminar leader, Open Door Wealth Management, LLC is your portal to real wealth and financial security via creative real estate acquisition. We are dedicated to making big money without aping the efforts of all the others with their big bank accounts. What our members and students learn quickly is how to safely and legally acquire and manage appreciating real estate with (i.e., ‘when necessary) little or no money out of pocket…with marginal credit or even a non–existent credit…and without needing new mortgage financing.
Want Some Free Houses and Ho’ Bunch’a Money? Consider this, ‘just one single aspect of our many-faceted real estate investment and investment training business: With the hundreds of thousands of over-encumbered properties out there today, assuming you could derive unlimited income from profit centers other than existing equity…‘could you make money by simply taking-over other people’s mortgage payments and bringing in others (i.e., tenant buyers) who would make some or all of the monthly payments for you, in exchange for home-ownership, income-tax write-off, pride of ownership…’and 100% of all the benefits of Fee-Simple Real Estate Ownership? (Hint: The answer, in case you’re having trouble with the question, is “YES!” Moreover, thousands of our students have done so, and continue doing so every day…’because they know a secret that few other have access to!)
Let’s say, for example, that someone you know is “just a renter” in a nice home: ‘do you think they care one way or another what their landlord owes on the property (‘should they care)? No, of course not; but what if that same “renter” were somehow suddenly to become fully-entitled to the landlord’s income-tax write-off for the underlying (over-encumbering) mortgage loan (i.e., re. all interest and property tax deductions). What if, along with pride of ownership and full expectation of eventual equity build-up via loan-principal reduction and economic appreciation over the ensuing 3, 5, 10 or 20 more years? Do you suppose that individual might be willing to pay more than normal rent? Might the “seller” be willing to chip in on part of the payment to get rid of a much larger and more onerous burden? And…as a result, save several thousand dollars in what would otherwise be his/her negative cash flow?
Of course…but do you know how to accomplish that? [Well, we do and we can teach you how to do it too!]
Can you see the profit potential here? I.e., ‘you’ve just acquired a property with no down, no loan application, no credit restrictions…no maintenance costs, no real risk, and no payments! And… even better…the “seller” needn’t grant the title to you. And neither you nor the seller need run the risk of encountering unforeseen barriers to, say, eviction and ejectment, later on such as in the event of a default by you or your resident party.
[‘A free cigar or a new Maserati for anyone who can beat that (…“or” being an important word here!]
Well folks, the above scenario is a large part of what we do, and what we do exceeding well. It’s a part of what we teach others to do and what we’ve been successful doing since 1984 without a single failure or unmet challenge after thousands of transactions throughout the US for all these years [‘note that this is not to say that we haven’t been named in lawsuits… ‘we have: ‘it's just to say that that we’ve never lost one, ‘nor have our clients or students lost one.*]