creative real estate: WOULD YOU EXCHANGE YOUR REAL ESTATE FOR UNSECURED, NON-INTEREST BEARING PROMISSORY NOTES?
- 06/20/11 11:41 AM
I bet that a lot of you think that I have lost my mind by asking such a stupid question! But the truth is that this is what most Sellers want to do! Before you call the looney bin to have me admitted, take a minute and look closely at this photo of a $50 bill. Notice the writing at the top which describes this bill as a “Federal Reserve Note”. That’s right, cash is nothing more than an Unsecured, Non-Interest Bearing Promissory Note! The question then is, “Why do Sellers want Cash?” The answer is because cash can be exchanged … (0 comments)
creative real estate: THE EASY WAY TO GET LOW DOWN, LOW INTEREST LOANS!--Part 3
- 05/16/11 11:46 AM
In Part 1 of The Easy Way to Get Low Down, Low Interest Loans, I explained that there are many homes today that have little or no equity that are subject to low interest loans that can be assumed, and offered the opinion that the risk of a Lender invoking the “Due on Sale” clause is very low. In Part 2, I discussed the use of “0 Balance Wrap Arounds” to reduce risk to Sellers and provided a link to a full disclosure form to reduce risk to Real Estate Licensees. In this part, I will discuss why it may make … (1 comments)
creative real estate: THE EASY WAY TO GET LOW DOWN, LOW INTEREST LOANS!--Part 2
- 05/07/11 05:15 AM
In Part 1 of The Easy Way to Get Low Down, Low Interest Loans, I explained that there are many homes today that have little equity that are subject to low interest loans that can be assumed. Even though these loans will almost always have a “Due on Sale” clause, the risk of a Lender invoking that clause today is extremely low. If the Seller’s equity is small (say 10% or less of the sales price) the simple way to structure such a sale is to have the Buyer pay cash (or exchange something) for the Seller’s equity and just assume … (1 comments)
creative real estate: THE EASY WAY TO GET LOW DOWN, LOW INTEREST LOANS!--Part 1
- 05/03/11 06:20 AM
You may be surprised to learn that the Easy Way to Get Low Down, Low Interest Loans is not some new government subsidized program. In fact, there is nothing new about this time proven technique which was a major source of financing during the high interest rate era of the late 70s and early 80s. The Easy Way to Get Low Down, Low Interest Loans is to simply assume an existing loan that was made in the last several years! Throughout the United States today, there are millions of properties that have little or no equity (thus the opportunity for low … (1 comments)
creative real estate: STRAWBERRIES AT ONLY 5 CENTS A QUART!
- 04/28/11 07:18 AM
Wouldn’t you love to buy fresh strawberries at only 5 cents a quart? Who wouldn’t? But of course you can’t. In fact, you couldn’t even buy them at that price during World War II, when 5 cents a quart was the official price controlled by the government. And of course, that is the point, and is why Nobel Prize economist, Milton Friedman, liked to use this example to show why free market pricing is better than government control. He would observe that it is far better for something to be expensive and obtainable, than for it to be cheap and unavailable. … (0 comments)
creative real estate: FIVE WAYS TO FINANCE A SALE WHEN THE BANK SAYS "NO"!
- 04/03/11 07:08 AM
Actually, I lied! There are literally dozens of ways to finance the sale of real estate without using Bank Financing. The reason that I only mention five in the title is that this Blog will discuss the “Five Pillars of Creative Real Estate”. These Five Pillars are individual, independent Creative Real Estate techniques, but when one or more are combined, they provide dozens of ways to structure a real estate transaction. By learning the basic techniques of the Five Pillars, and then applying your individual creativity in combining them, you will be able to finance real estate transactions even if no … (3 comments)
In the beginning there was land, and eventually man evolved (or was created, depending upon your philosophy). In any event, in the early prehistoric days, humans roamed the land searching for food and shelter without any elements of ownership. Eventually groups settled into certain productive areas and began defending them against outsiders, thus creating the first elements of ownership and private property rights.
I don’t think anyone knows (or at least, I don’t) where the concept of private property ownership began, but the best evidence suggests it may have been … (2 comments)
creative real estate: LEARN CREATIVE REAL ESTATE
- 01/23/11 09:29 AM
I am often asked, "WHY LEARN CREATIVE REAL ESTATE?". My answer is, "not everyone should-in fact, there are six good reasons NOT to Learn Creative Real Estate". These reasons are: You have sold every listing that you have ever taken. You have never had a transaction "DFT" because the Lender didn't like the property. You have never had a transaction "DFT" because the Buyer didn't meet the Lender's credit standards. You have never had a Seller of an "un-financeable property" say they would only sell for cash. You have never had a Seller reject an offer using "Seller Financing" because the down … (3 comments)
I bet that a lot of you think that I have lost my mind by asking such a stupid question! But the truth is that this is what most Sellers want to do! Before you call the looney bin to have me admitted, take a minute and look closely at this photo of a $50 bill. Notice the writing at the top which describes this bill as a “Federal Reserve Note”. That’s right, cash is nothing more than an Unsecured, Non-Interest Bearing Promissory Note! The question then is, “Why do Sellers want Cash?” The answer is because cash can be exchanged … (0 comments)
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