real estate notes: This Agent Should be Fired: How to NOT to do Owner Financing
- 08/31/13 01:36 PM
This is the kind of seller financing that gives creative financing a bad name and gets Realtors served lawsuits. Why the listing agent would ever consider letting his client put this deal together, I'll never know... all I can think was that they were obsessed with double ending a high-end listing 48 hours after it was up on the MLS, NOT what was good for the seller, and NOT what was good for their E&O insurance. The buyer was offering full price, $820,000, but he would be making NO down payment. He would be putting a $420,000 first HML (hard money … (0 comments)
real estate notes: Real Estate Agent Offers Owner Financing Sells Note - Here's How
- 06/10/13 12:38 PM
The note described in this video training was created by a real estate agent, who is also an investor. They bought the property cash, and then sold on terms (owner financing) to a buyer, and now he is cashing out of the note to go on to other investments. Normally, this is protected content, but I had so much fun doing this one that I decided a couple times of year to make it public. The monthly transaction review & calculator practice always covers philosophy and how to use the financial calculator, but now it will also include the supporting … (0 comments)
real estate notes: Many Agents Repositioning With Non-Performing Notes & Owner Financing
- 05/24/13 06:28 AM
There is a lot of interest in non-performing notes right now, and while that is not my niche, there were several on the call who are working in NPNs. Additionally, there were at least 3 full time real estate agents on the call that talked about how they're incorporating owner financing and notes into their businesses. We created a "Virtual Coffee List" for all those that wanted to network with each other. Here's the link to the call: http://ownerfinancingclub.com/?p=2295 If you want to be added to the Virtual Coffee email group, please click the link above and follow the instructions, and … (0 comments)
real estate notes: Real Estate Professionals Make Extra $20,000 With Owner Financing
- 03/28/13 10:08 AM
Just thought I’d invite you to join me for drinks and appetizers if you’re in the Southern California area. I’ve been running theOwner Financing Club community on a virtual basis since May of 2011, and this year, I’ve added 3 face-to-face meetings. This will be the 2nd ever ‘meet n’ greet’ for community members (it’s free for you!) and non-members who are interested in the conversation ($20 at the door). McCormick & Schmick’s 2000 Main St., Irvine, CA 6:30 – 9:00pm At our first event in San Gabriel in January, I was pleasantly surprised by the turnout. People had a chance … (1 comments)
real estate notes: Why Notes, Why Now… and How? (self-directed IRA)
- 09/11/11 02:54 PM
Just a quick post to let you know that tomorrow’s Owner Financing Club meeting will be a webinar. I wanted to have a better training format than the telephone conference call could provide, as I’ll be going over a recent note transaction… exactly how I closed it, so the process is demystified for people who think that buying a note is woowoo. If you want to participate, REGISTER HERE. I think that notes are one of the few ways for the average passive investor to get solid and reasonably safe returns in a volatile, uncertain market where inflation is probably sitting … (0 comments)
real estate notes: 0% Owner Financing Making Ownership Cheaper Than Renting
- 07/08/11 11:53 AM
Private investors like you and I can make a profound difference in how the real estate market functions. Many of us tend to hold our breath to see what the government, or the banking sector will do... we can do a lot without them. The principals and professionals who understand, or are willing to explore this, have the opportunity of a lifetime in front of them. In my world, banks are only one small part of the market.... not THE market. Last night I had the privilege of interviewing a long time investor and professional, Walter Wofford, and he was explaining … (2 comments)
real estate notes: The Note Guy, the Note Queen and Non-Performing Notes at Owner Financing Club
- 05/31/11 10:36 PM
I’m really pleased to have Ellis San Jose as the guest speaker on my next club call on June 2nd, 2011. Ellis, like myself, is a California real estate broker, a real estate investor, note buyer, and co-founder of The Note Guys with Gerald Lemoine. While he has done and can do just about every step in “The Dance Between Property and Paper”, he recently told me that he’s mainly focused on buying non-performing 2nd TD’s. And I think he mainly focuses on bank paper, whereas I never touch anything related to the banks at all, but we’ll find out together … (0 comments)
real estate notes: When I Offer Owner Financing, Should I Pay my Agent a Full Commission?
- 03/03/11 05:51 AM
Whether or not real estate professionals should be paid their full commission at the close of a transaction where the seller extended terms (seller financing) to the buyer, is often a topic of some confusion. While there is always room for negotiation for almost everything related to real estate transactions, it’s good to be clear about the fact that regardless of who provides the financing, (a bank, a hard money lender or the seller) a sale is a sale is a sale, and the agent/broker has indeed earned their commission according to the terms of the listing agreement. Here is a … (6 comments)
real estate notes: To the Chopping Block for Fannie & Freddie - Private Money & Owner Financing Expected to Increase
- 02/11/11 07:41 AM
Fannie and Freddie may be on their way out, like Mubarak out of Egypt. I’m all for it, and… just like there will inevitably be some positive chaos as the Egyptian people take their next steps into democracy, the privatizing of the mortgage market will undoubtedly lead to a temporary disruption in lending and higher interest rates. Funny concept… for some reason, private investors actually need to make a return on their money. Here’s an article about the proposed changes on CNN Money. Even if they weren’t on the chopping block, according to Fannie Mae’s memo to lenders in late December, … (0 comments)
real estate notes: Selling Your Note Could Save You From Insanity
- 09/16/10 09:11 AM
[Watch video]Holding a note can be a great investment, but if keeping on top of payments, property taxes, insurance, and the condition of the property (collateral) is too much for you, then sell your note before your family places you in the asylum or sneaks tranquilizers into your morning coffee... … (0 comments)
real estate notes: Owner Financing Jump Start Mentoring Experiment
- 05/22/10 09:27 AM
My online training course is only a few weeks away from being ready to launch, but because I feel there are just too many juicy opportunities lying around, and because so many people have asked me to help them figure out how to take advantage of them, I’m going to do something I’ve never done before, and may never do again. I’m going to do a one-month mentoring program to help people quickly be able to find and submit deals that together we can close and profit from. It will start Wednesday, May 25, 2010. Watch the video, and if … (0 comments)
real estate notes: I Want You to “Like” Me . . . My Bribe is a Free Owner Financing Video
- 05/17/10 10:34 AM
Hey . . . sometimes you have to buy votes :) I’m going to send a gift to everyone who “likes” my new page by tomorrow night (Tuesday, May 18, 2010): Facebook Page I deleted my old Facebook Page and started over. I’m not sure why facebook matters so much, but I keep hearing it does. My goal is to create a community where there can be a greater exchange of ideas in real time about notes and owner financing. The gift will be some material that is not for sale . . . yet. It’s a 30 minute video … (0 comments)
real estate notes: Seller Financing Helps Move Commercial Property
- 06/02/09 08:44 AM
Buying my first commercial building from an owner offering terms several years ago made me an instant fan. I was reminded that the technique is still alive and well. Just a few months ago, 5828 Temple City Blvd. sold for near asking in less than 60 days. The listing description went something like this: “Commercial building for sale. Large lot with approx. 2500 sq. ft. building plus more parking. Currently chiropractic offices. OWNER IS RETIRING & WILL FINANCE 1ST TRUST DEED WITH APPROVED CREDIT & TERMS.” So why does someone who is retiring think of doing this? Most likely his first … (4 comments)
real estate notes: 12 Steps to Real Estate Recovery
- 03/04/09 07:30 AM
Let's admit it . . . as a nation we've been partying very hard for a very long time, and now, in the midst of our collective hangover, we're looking for ways to sober up and find serenity. Who better than Bill W. and Dr. Bob to give us a hand? 1. We admitted we were powerless over the real estate market - that institutional financing had become unmanageable. 2. Came to believe that a power greater than Fannie Mae or the FDIC could restore us to sanity. 3. Made a decision to turn our will and our lives over to … (2 comments)
real estate notes: Seller Financing on Steroids: Developing Trust
- 01/21/09 12:23 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)
real estate notes: If I Use an Equity Holding Land Trust Can I Still Create and Sell Notes?
- 11/11/08 06:02 AM
Aloha Dawn, Hope everything is going well for you. I was out yesterday educating Realtors at open houses on non traditional financing, ie Land Trusts. They all seem to recognize that things are different and were open to pursuing the EHLT approach. A couple questions came up and I thought I’d ask you your thoughts on them. Q: Assuming a $1.2M MAV with an underlying $250,000 mortgage. RB comes in with lets say $100,000 and seller agrees to carry $1.1M at 6.5%. Would it be possible to take the difference between the remaining equity of $850,000 ($1.2M - $100,000 … (4 comments)
I guess you can always say the dog ate it, or a tornado snatched it into the sky when you were in Nebraska visiting Aunt Dorothy and Uncle Toto, but the truth is, you may not be able to sell your note if you can't produce the original. The original note is the "green stuff," it's the currency, it's "the thing you're selling." A copy just won't do! The original John Henry (signature) of the Buyer/Payor, even if it's not very attractive, fluid or sophisticated, is the silver lining in your paper. And it kind of makes sense, doesn't … (0 comments)
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.
This is the kind of seller financing that gives creative financing a bad name and gets Realtors served lawsuits. Why the listing agent would ever consider letting his client put this deal together, I'll never know... all I can think was that they were obsessed with double ending a high-end listing 48 hours after it was up on the MLS, NOT what was good for the seller, and NOT what was good for their E&O insurance.
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