Seller Financing on Steroids: Developing Trust - 01/21/09 08:23 PM
Def.: Trust - confident expectation of something; hope.
Many luxury residential and commercial sellers don’t have a lot of trust in the real estate market. Recently, as if rattling a sordid skeleton, a local high-end Realtor squeamishly confided, “Nothing’s moving right now.”
Though conventional financing is more attractive than ever, jumbos ($625,500+) are sporting a healthy 7%+ rate, and they’re tougher to get. Many buyers, who could easily afford a high end property, can’t qualify for a jumbo loan . . . stalemate.
Now, while I probably can’t help you with a stale mate if you’re married to one, … (2 comments)

How Much of a Down Payment Should I Ask for When I Carry a Note? - 01/18/09 02:21 PM
The quick answer to this question is "As much as possible." The more money someone puts down, the more protective equity you have, and the less likely they are to default. It's called, "Having some skin in the game."
There are good buyers out there who do not have 20% or more for a cash down payment. Does that mean that you shouldn't do the deal? Maybe, maybe not. It all depends.
There are many factors that are unique to each individual situation. That's why people pay me to go over their particular situation and look at it from all sides, … (2 comments)

Jumbo Loans Still Hard to Get - Seller Financing Increasingly Popular for Closing Luxury High End Properties - 01/18/09 02:14 PM
Recently, LA Times writer Peter Hong published an article about the new interest mortgage interest rates:
Mortgage rates fall, but many borrowers will have trouble qualifying - Low seasonal demand and high borrowing standards make a rush of new loans unlikely.
". . . Jumbo mortgages, those over $729,000, carry interest rates just under 8% and remain very difficult to obtain, Lazerson said. Because Fannie and Freddie can't buy jumbo loans, the rates on them are unlikely to be affected by the Fed's plan."
The jumbo loans needed to purchase luxury residential properties, as well as the mid-sized commercial properties, … (0 comments)

I Need to Sell Commercial Property - Can You Help Me Structure Seller Financing? - 01/18/09 02:06 PM
This seller is representative of many sellers of smaller and mid-sized commercial buildings these days:
"Dear Dawn,
I read with great interest the 10/3/08, Investor's Business Daily article that featured your information on seller financing.
I personally own a lake front condo office in Stockton. I have it clear of any loans and lost 3 buyers because of huge finance loan fees quoted, so am now thinking quite seriously about your procedure with me, as Seller, carrying the loan.
Do you offer, for a fee, to setup the carry back situation including how the payments are made and … (0 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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