Financing and Credit

I was doing some research (which I do almost on a daily basis) and ran across a site that had some answers that I do not know if it has been already posted but thought I would like to share.

**I did not write this, I just came across it and thought I'd share the information.

Kevin

"Land Trusts: The Answer to Flipping Short Sales?

Flipping a property means to settle on a piece of property for one price and immediately (within minutes, hours, or a day) “flip,” or sell, the property to another end-buyer for a higher price. It’s a great situation for an investor who has little cash, as usually the investor doesn’t even need to come to closing with his or her own funds.

Has anyone offered to trade you a quadplex for your car, or stocks, or bonds? Someone I have been asking about different owner financing options asked me that today? I have never seen that kind of financing before. Here I will trade you a car for your house!

I have a few properties I am looking at, where I could use a partner with good credit that can be my end buyer, and make the difference between my contract price, and the end buyer price. I have two now that that would come out to about $15,000 after fees and closing. Then I can lease the properties back from you and handle all the payments, rents, etc. I would even be willing to split profits for the first year, til I can get the property in my own name. The two I have right now would be based on an end buyer price of $55,000 which would carry a monthly payment of about $313 including taxes and insurance. If interested please let me know.

I am trying to lock-up my first deal and need some suggestions.

I have found a 3 bedroom 1 bath home in an economically depressed area. The home is for sale through a realtor. It is not an REO or foreclosure. The seller claims to be motivated to sell and is asking $32,500 for the home. The home basically needs some paint and carpets cleaned to move in. I am actually considering this property for my own residence. Since I am going to be relocating there for work. Also, I recently was divorced so my credit and cash needless to say are depleted.

Do you know of any companies that will help with downnpayments of commerical properties?

SAFE Mortgage Licensing Act

Information by State
Print version

Safe Act Model State Law
About the Act
The Housing and Economic Recovery Act of 2008, signed into law on July 30, 2008 (Public Law 110-289) (HERA), constitutes a major new housing law that is designed to assist with the recovery and the revitalization of America's residential housing market - from modernization of the Federal Housing Administration, to foreclosure prevention, to enhancing consumer protections. The SAFE Act is a key component of HERA.

I had an awsome idea. I found 4 properties in an excellent rental area near two big local colleges. The on campus housing is already full so parents have already started looking to rent for thier kids. Not only that but local rentals owned by timeshare companies or whatever they are rent out for $1900 a weekend for a 1bed unit durring football season. All the area hotels book solid durring this time. I have never seen anything like it till we moved here.

I have been working with this HML for over a year and we have done 5 deals together and now I have a property on contract and closing on 07/30/10 but yesterday the HML is telling me that he is going thru some problems right now and he will not be able to help me out. Now I'm in a sittuation where I need to find a way to get some other HML or private money to close on the deal so I put an add in craigslist and have talk to a few people asking if they are interested in making some money with me but so far the best a got is a HML that will put 50% of the purchase price (the other HML was doing 80%) so obviously I don't have enough money to do it with him.
Anybody have some ideas or suggestions?

I found a seller that owns 18 properties in my area and is wanting to retire. He has 2 of his properties listed as fsbo. Said he and his wife plan to sell a few properties per year to avoid being hit hard on taxes. We've discussed possible owner financing with him and he is interested if the advantages are great enough for him. Does anyone know about specific advantages or have a proposal they use when talking with a seller about it. He said his wife does the bookkeeping, so if it made sense to her, then they would consider it.
Thanks!

I am considering getting a loan through them, but wanted to be safe in my choices. If anyone has anything they can offer, please help!