Financing and Credit

Have you ever heard of Notes? Essentially, seller financing consists of a promissory note and a security instrument (Mortgage, Trust Deed, or Deed of Trust). As you can see the promissory note is the piece that we are focusing on in the Note Business. Just like a big time lender, individuals can sell and buy notes too. Obviously, the buyers of notes are not going to spend top dollar on a high risk note, so creating good sound notes is going to help get top dollar for the sale of a note.

Interested in closing properties faster, repairing them faster, and selling them faster?? You can do this with seller financing. How, well many sellers today realize that if they want to sell their property they are going to have to offer some sort of seller financing. What if you went into a dela with a seller using seller financing and you wrote up the contract as a Trust or LLC being the buyer and payor on the loan? Could you sell your interest in that LLC or TRust.....heck yes. How could this work?

I joined Dean's family about a year ago. I read both books and became very excited about buying homes as an investment. I began with the processes of buying my first home and then ran into a big wall that blocked everything.

Last year I inherited a piece of property that has a maxed out HELOC. Right now the HELOC is around 90% of the value of the home(estimated). This loan is with Wells Fargo.

Hello, Does anyone know of any lending institutions in the Buffalo, NY area that will do a cashout refi with no seasoning? I'm getting the one-year seasoning story and wanted to see if I could shortcut my search.

Dean's visit with Angie inspired me.

Thanks.

Has anyone with bad credit been successful at finding someone with excellent credit who is willing to co-sign or be the guarantor on a line of credit in return for a percentage of the deals you do, therefore enabling you to have cash to close on deals quickly? If so, did you write up a proposal, or how did you approach them or find them? This seems like a win/win situation since the person would not literally have to put up any money, just allow the use of their good name and credit and receive income for basically doing nothing. Any feedback would be greatly appreciated.

I was wanting to know if anybody knows anything about deeding my personal residence into my LLC?
I have about $20k in equity that I can't touch due to my current credit rating. So I thought about deeding my house to my LLC and then using my LLC's EIN# to refinance it and pull out the equity or just use it as collateral for loans to make real estate deals. I would also use it to help establish business credit for my LLC.
Does this make sense?
What are the tax implications for doing this?
Any help would be greatly appreciated.

Has anyone use this Community Development Block Grant program? If so, what did you need to present and to whom to be approved for the loan program? Do you have to be a licensed general contractor (developer) to qualify to use this program?

I like to keep the odds in my favor. I say this because as a stock broker for 15 years i taught to buy low and sell high.

Another principle that i taught is to buy and hold your investments because if it was worth buying in the first place it should be worth holding for the long term.

When it comes to real estate this is an optimal time to buy low and to hold onto your investment. I have heard Dean say a number of times that he is buying and plans to hold up to 5 years in the future.

I HAVE A QUESTION REGARDING A PRE APPROVAL I GOT. I was planning to buy a home for me and my family to move into since we are currently renting an apartment for $800 a nonth! so i got pre approved for 80k. i dont know weather i should use that for my primary residence or for and investment property?