Financing and Credit

Im new here and I am in no way shape or form qualified to get mortgage. Is it going to be possible to implement any of Deans teachings on foreclosures without one? Im not going into this negatively and am definately open minded...im just wondering about this one. Thanks for any info.

Are you trying to establish business credit? Do you already have an LLC or Corporation? Go to DUNS AND BRADSTREET and request a DB number. It's free. Also keep in mind that you may get a call from D&B asking you what you plan on using the number for. Basically they are trying to sell you something you don't need to pay for. Don't give them any money. The secret is to tell them that you plan to use the D&B number for doing contracts with the government.Once you tell them that they will no longer try and get money from you.

Hello everyone please excuse me but I've searched for an answer and havent found one yet so I'll ask and if you can guide me to an answer then cool. I purchased the book and I read as one of the ways to come up with money for real estate if you have bad credit and no money is to find people that have offered seller financing on there property and see if they want to sell the paper for a discount so they can have cash now and you get a finders fee for hooking them up with a buyer. My question is how do I go about finding people with owner financed properties to see if they want cash now?

I have started this forum topic even though I am sure some of the information is here, because I feel it would be best all in one spot.

Please give examples only. If you want to be go into detail on the topic of financing you should look for that topic and do so.

As food for thought, and commenting, I have good credit but to high of debt/income ratio. Hard Money lenders appear to be wanting tangeble collateral and investors are looking for the same deals I am and possibly have already spent the available funds.

I have an investor interested in doing a deal on one of my properties. I have the property locked in for $250,000.00. My assignment fee is $10,000.00. The investor wants me to assign the property over to him and find and end buyer for the retail price. He is offering 100% owner financing at 6 1/2% to an end buyer. I will receive my assignment fee when the property is settled with the end buyer.

has anyone ever done this before? This is all new to me and I am not sure how it is even done. can anyone educate me?

saw an ad for new beach front home that a builder is willing to seller finance. I called him and he said he is asking $375,000 and he owns several homes on the lake and that he is 68 years of age and that he and his wife want to travel now. I am suppose to meet him today. My concerns are that If I sign the contract to do seller finance, should I agree to close in 90 days?

Your ability to pay the mortgage by looking into your credit reports.

Your employment history as well as your current job.

Your education to see whether or not you can improve

Your job situation in the future.

Your asset holdings like stocks and bonds, bank accounts, other real estate you own, car/boat and/or any other kind of assets you own.

Your debts and whether or not you are a guarantor on any other people's obligations.

An interest rate is the cost to borrow money, so as rates go up ,affordability goes down causing the market to slow. When a market is slow sellers are more willing to take better prices.
In a market where rates are going down, there is more opportunity to buy and sell speeding up the market. With a fast market sellers will be less willing to take better offers. This is a great time to sell.
If you have read Dean's book you will find that he speaks about this in greater detail.

Self Directed IRA's can be the answer to the problem of where down payment money can come from. It is money in your life insurance policy that can be converted to cash for whatever purpose. This requires getting hold of the property and doing the work quickly to bring it back to marketable shape.
Articles found in www.rehabwiz.com ; www.creonline.com help to complete the study on this concern. Watch for articles by Kevin Myers, Richard Desich, and Hugh Bromma. Basic topic on creonline.com is how to finance using alternative finance. M

Just because the fed cut interest rates does not mean lower interest for mortgages, see article below.

NEW YORK (CNNMoney.com) -- The 30-year mortgage rate surged this week, following the Fed's half-point rate cut and the rise in long-term Treasury bonds yields.

Mortgage finance firm Freddie Mac reported Thursday that 30-year fixed-rate mortgages averaged 6.46% this week. That's up from 6.06% last week and above 6.26% the rate this time last year.