Investors are increasingly turning to the teachings of Phil Grove and AMPS, which stands for Mortgage Payment Allocation System. Obviously, with any new strategy, there is a learning curve that must be overcome to make a profit on transactions.
As someone who studied Phil Grove and AMPS and turned that training into a successful AMPS-based business in less than a year, I have some tips and guidelines to allow new investors to avoid some major mistakes that can really prevent you from reaching deals.
A mistake is giving up too soon. This system is based on marketing aimed at motivated salespeople. Without a doubt, the combination of Phill’s training will provide you with a powerful arsenal of marketing magic to garner a flood of calls to motivated salespeople.
That said, it’s a numbers game and sometimes you turn off taxpayers and you don’t get much of a response, and sometimes you get a call from a motivated salesperson who won’t close. This is part of the business that happens to even those of us who have been doing it for a while.
So even with Phil Grove and AMPS behind you, you can’t give up just because 1 or 2 deals didn’t work out, or you had a bad marketing strategy. You must persevere!
Another mistake is insufficient marketing. Some people get the system, review each video multiple times, read all about AMPS, but never do the marketing to make the offers. You must trade to be successful with the Phil Grove and AMPS investment strategy.
One more mistake is making too big a deal with the expiration clause.
Every time you make a lease option, go up in business, rent a property, and yes, make a Phil Grove and Amps-style deal, you’re going to activate what’s known as the expiration clause on sales that states that you do. any of the aforementioned, the bank has the option, but not the obligation, to cancel the promissory note immediately.
I am not an attorney, just a Phil Grove and AMPS student, but I have spoken with attorneys who have conducted thousands of such transactions, theoretically triggering the expiration clause on sales, and they cannot inform me of a single case in the that the bank has actually called the overdue note. That could change, but that’s the practical reality.
So, in my opinion, investors give way to a big problem about it. And if it is explained openly and honestly to the seller and the buyer as taught in Phil Grove and the AMPS system, they usually have no problems, either.
Investors tend to make a much bigger deal in this regard than sellers and buyers.
Hope that helps, to the deals!