Learn the Secrets of Structuring Seller Carry Back Notes by Tuning In - 04/30/08 11:05 PM
I'm glad to be going back on the air with Exeter Real Estate Radio next Monday to continue our conversation about Seller Financing. Last month we ran out of time!
We'll be talking about: 1. Why you must know how to carry paper in this market in order to:
close your real estate transaction while other properties languish on the marketget your price by offering termsdefer capital gainscreate cash flow for retirementleave a good inheritance for your loved ones 2. How to structure a good seller carry back note
3. Why you need to work with a note professional BEFORE you … (3 comments)

Seller Financing Explodes as More Owners Become Willing to Carry Paper - 04/30/08 11:04 PM
As the housing market continues to "evolve" with tight credit, increasing foreclosures and downward pressure on prices, sellers are turning to owner financing in order to get their price and close escrow. And with things far from resolved, I am getting more and more sellers asking how they can carry paper safely.
“This is worse than the S&L crisis,” said Jim Rogers in an interview with Bloomberg recently. “This is the worst credit bubble we've ever had in American history. Never in American history have people been able to buy a house with no money down -- never.
“That's never happened … (5 comments)

Alhambra Short Sales, Foreclosures and REOs - April 2008 - 04/23/08 05:18 PM
Are short sales and REOs a great way to pick up cheap property? Sometimes, but not the way most people generally think.
There are 76 properties for sale in Alhambra currently reported as "active." Of those 76, there are a few that have been coded as "short sale" and "real estate owned." The following properties may not be the ONLY short sales and REOs in Alhambra right now. The accuracy of the data is dependent upon the agent inputting the listing.
Short Sale & Foreclosure properties:
REO properties:
When an REO has been on the market for a while, … (0 comments)

Temple City Market Report - March 2008 - 04/23/08 05:16 PM

As you can see from the above market statistics, home sales have not changed much since March of last year. The number of closings is the same, and days on market is also very similar.
Prices are holding fairly well in Temple City, reasonable sellers getting an average of 95% of their asking price. In fact, prices appear to be up substantially over last year, but the numbers are affected by a couple of very large and expensive homes that sold last month.
60 days on market isn't bad, considering that the national numbers are showing 10 months of inventory … (0 comments)

Pasadena Market Report - March 2008 - 04/23/08 02:05 PM

As you can see from the above market statistics, home sales have slowed considerably since March of last year . . . the number of closed sales is just over half.
Prices are holding fairly well, though, (down about 4%) but you have to be willing to wait a little longer to close escrow. Still, 63 days on market isn't bad, considering that the national numbers are showing 10 months of inventory (meaning, the average time it takes to sell a home is 10 months).
Fewer sales are occurring, but they are occurring, and the sellers that are willing to … (0 comments)

Ummm . . . Why Not Store a Little Food on Your Real Estate? - 04/21/08 07:30 PM
Make room to store a few food items in & on & around your real estate. There could be some temporary shortages and periods of unavailability. I ordinarily don't worry a whole lot about world events, but there are some interesting trends developing. It wouldn't hurt to be prepared with a few key items, including water and toilet paper!
According to Kevin Kerr,
"Even in the U.S., food rationing is becoming a reality, as much as the mainstream media would like to pretend it’s not. The lead story on Drudge today suggests Costco and other food wholesalers have begun to quietly … (0 comments)

My Sellers are Afraid to Carry Paper - Have You Seen a Bank Call a Loan? - 04/21/08 02:46 PM
Sellers who are willing to offer terms and carry paper can really give themselves a nice seller financing advantage in today's market, but sometimes they get freaked out by the "due on sale" clause. They are worried that if they wrap the existing lien, they'll be in trouble if the bank gets wind of the transfer.
Wrapping good underlying financing is a great way to put a deal together, but there can be a lot of fear out there, as evidenced by this email I just received from another real estate agent:
Question: "I have a client looking to carry and … (2 comments)

The Report Every FSBO Must Read: "The BOFS for the FSBO" - 3 Magic Words: Owner Will Carry - 04/17/08 01:27 PM
Now, some people might think it's a bit strange for a real estate broker to be writing a post like this, but for where I'm coming from, it makes perfect sense.
Whether you own your property free and clear, or you owe more than your property is worth, I am dedicated to showing you, the "Fiz-Bo" (For Sale By Owner), how to have the "Bo-Fiz" (Best Opportunity For Success) in today's market.
If you're a FSBO, then for your BOFS you'd BOSF because you'll SFOB.
Translation: If you're a
For Sale By Owner, then for yourBest Opportunity For Success you'd Better … (0 comments)

Pasadena Real Estate on the Rail - Gold Line Connects you to Old Town - 04/17/08 01:25 PM
Learning to use public transportation (the metro) was really a stretch in the beginning, but now it's a cherished aspect of travel for my whole family. The gold line's Memorial Station drops you off a block or so from historic Old Town Pasadena, one of the most delightful places to hang out this side of the Mississippi.

Holly Street Village sits right on top of the Memorial Station, and has the distinction of being the only apartment community situated within the heart of Old Pasadena's renaissance district. This property is the winner of the prestigious Gold Nugget award for … (0 comments)

Temple City Gets a Taste of Beto and His Beautiful Sangria at Beto's Grill - 04/16/08 05:47 PM

OK, so I am sorry that the last business in this location didn't make it, but I am really happy to have a new Mexican restaurant in town. I first ate at Beto's Grill over in San Gabriel, and now the young, aspiring Alberto Ocana from El Monte has opened his second store here in Temple City (Temple City Blvd just south of Las Tunas).
I love sipping on Beto's (short for Alberto) fresh and delicious sangria. Some sort of mix of red wine and watermelon chunks, it's absolutely delightful on a warm afternoon. Just recently they got the license … (0 comments)

Zoinks! 25%? Seller Financing Helps you Survive the Capital Gains Attack - Installment Sale to the Rescue! - 04/16/08 03:55 PM
And you thought you needed capital gains strategies before . . .

Both Senator Clinton and Senator Obama have called for an increase in the capital gains tax rate. It's currently at 15 percent, and they'd like to see 20 or even 25 percent. Property owners, more than ever before, need to learn intelligent use of the installment sale to avoid the wealth-sapping wonders of the IRS.
But hey, we all have to do our part to bail out the speculators, don't we? Where do I sign up? Of course, I want to do my best to be patriotic, yes, … (2 comments)

The Critical Element - Take the Risk Out of Carrying Paper - 04/14/08 09:16 PM
I met someone for lunch today who decidedly shuddered at the idea of seller financing. "Aren't there so many things that can go wrong?" Her expressed sentiment is shared by many: owner financing is inherently hazardous. But it doesn't have to be. It's all in how you set the transaction up and the way you evaluate relative risk and reward.
We're all inundated with news of the mortgage crisis, billion dollar write downs and escalating defaults, but if you stretch your mind and dust off a few brain cells, you'll be able to remember a time when banks sort of had … (0 comments)

Banks Don't Care About Losses - We're Bailing Them Out! - 04/10/08 02:20 PM
I can't tell you the number of lenders that refuse to take a good short sale offer. You'd think with the mounting losses, that they'd try to stop the bleeding, but I've seen them refuse a short sale offer of $375,000, just to put it on the market three months down the road at $275,000. I guess it really doesn't matter that much to them . . . we will just keep bailing them out, and they know it.
The International Monetary Fund (IMF), for its part, expects a “mild recession” in the U.S. this year. It put a price tag … (2 comments)

I'm Thinking of Carrying Paper - Can You Help Me? - 04/08/08 08:15 AM
Actually, there may be several ways that we can help you! Of course, we provide excellent service when it comes to standard real estate transactions, but you may have been drawn here because of our expertise in Seller Financing. You may be thinking of carrying paper.
If you are a property owner or a real estate agent, and you wonder if seller financing is even a potential option for you or your client, please email me at dawn@notequeen.com, and I'll respond. This short consultation format is entirely free of charge.
If you want more, here are your options (see detailed explanations … (0 comments)

I've Sold and Carried Paper - Can I Still Close My 1031 Exchange? - 04/08/08 07:50 AM
Increasingly, sellers are becoming more flexible and carrying paper (taking back a note) in order to close escrow on their investment properties. So, how does that work in the context of a 1031 exchange? Can it still be done?
To answer this, I'll need to introduce you to a very smart guy, Bill Exeter, who owns and operates Exeter 1031 Exchange Services. I was down at his office in San Diego yesterday so we could visit on his internet talk radio show. (To hear the transcript, you'd have to click on "Listen to Prior Recorded Shows" for April 7, 2008).
Between … (2 comments)

I Want to Sell My Note - What is It Worth? - 04/04/08 04:54 PM
I'm actively buying real estate notes, and I'd love the chance to buy your note, (or a note your client may be holding).  With the uncertainties in the market, many people would rather get all of their cash now than wait nervously for each monthly payment to come in, hoping they won't end up having to foreclose.
A quick email or phone call with the basic terms of the note will help me give you a ballpark figure for what I might be able to pay for your note. The discount required depends on many different factors.
YOU ultimately determined the value … (3 comments)

Become the Bank on Your Own Property — Double Your Income and Kiss Your Hassles Good-Bye! - 04/03/08 06:36 PM

How to Turn Your Best Investment into an Even Better One! DOES ANY OF THIS SOUND FAMILIAR? “I would sell my property, but I can’t because . . .”
“I refuse to pay all those capital gains . . . and I don’t want to exchange into another property because I’m tired of managing property and dealing with tenants.” “I need the income . . . this is my retirement!” “I like my tenants and I would worry about them if I sold the property.” “I’ve got tenants/family members that don’t pay me enough, but I just don’t have the … (0 comments)

What You Don't Know About Notes Can Cost You Listings, Sales and Closed Escrows - 04/03/08 06:34 PM

Dispel the 5 Myths of Seller Financing
Are you tired of the Lost Sale and Expired Listings: Do you know that notes can get your clients cash now and get your escrows closed?
Do you have a seller stuck on price?Do you have a buyer who can’t qualify?Have a property that’s non-conforming?Is your deal falling apart? If you answered “Yes” to any of these questions, you need to know about one of the most trusted techniques in the country for closing real estate transactions.
The Installment Sale is a proven strategic tool allowing property owners to effectively defer capital gains … (4 comments)

The BOFS for the FSBO - 04/03/08 06:30 PM
3 MAGIC WORDS: "OWNER WILL CARRY" Whether you own your property free and clear, or you owe more than your property is worth, I am dedicated to showing you, the "Fiz-Bo" (For Sale By Owner), how to have the "Bo-Fiz" (Best Opportunity For Success) in today's market.
If you're a FSBO, then for your BOFS you'd BOSF because you'll SFOB.
Translation: If you're a
For Sale By Owner, then for yourBest Opportunity For Success you'd Better Offer Seller Financing because you'll Sell Fast Offering Banking. So you need or want to sell, and you want to sell without an agent because:
… (0 comments)

Creative Palms Make Shadow Puppets on Pasadena Shell - 04/03/08 05:59 PM

One of the things I love about Pasadena is the intelligence, creativity and fun-loving nature of the trees. These palm trees behind Pasadena's Gold Shell in Memorial Park are doing a good job of making shadow shapes that definitely look like . . . well, trees. No, wait, I see it now! There's both a front and a side view of a tribal headdress . . . or maybe a couple of turkeys or slightly battered peacocks.
The metro's gold line has a station here at Memorial Park, which is very convenient for my daughter, who gets off at this … (0 comments)

Financial Storms Offer Advantages to Sellers Willing to Carry Paper - 04/02/08 08:41 PM

I follow the work of guys like Bill Bonner, publisher of The Daily Reckoning:
"While U.S. business still seems fairly solid, generally, the financial sector is hurting. The banks say they will cut as many as 200,000 jobs. George Soros, speaking on the BBC last night, said he thought this was just part of a very big, very long credit cycle downturn. Credit has been expanding since the end of WWII. Now he thinks it will contract for a long time."
Now, to some people, it might seem like I'm in with the doom and gloomers, but to me, being … (11 comments)

 
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Dawn Rickabaugh - Note Queen

Pasadena, CA

More about me…

Dawn Rickabaugh (Note Queen) Owner Financing Consultant

Address: Temple City, CA, 91780

Office Phone: (626) 470-3477

Email Me

Note Queen Capital buys seller financed notes across the country, showing sellers how to get cash even when they carry. Owner Financing gets sellers top dollar for their property. We make sure they get top dollar for their paper.


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