Financing and Credit

if anyone already has a house of there own, and have tried to sell it in todays mkt, It can be tough. Have you ever thought of doing a lease purchase for someone else that can't get bank financing, to help them out? I ran an ad and it worked. I asked for 10% down, but later decided to do it for 6 or 7%, It will give you money in your pocket instantly and now you are ready to make a move towards investing,I have a good idea on what my next move will be though Cindy

Seller Financing also known as a note can be purchased and sold just like the bank that did the mortgage for you home may have sold it to another bank.

If you purchase notes at discounted prices you can easily make huge returns on you investment.

There are so many alternatives to investing in your savings account or IRA.

As I have read a lot of posts that seem to group hard money and private money lenders together.

They are not the same.

Private money has their money in CD's, Stocks, Bonds, IRA's, Mutual Funds, Savings Accounts, ETC.

Hard money has thier money in real estate. They know what they want and ask for it.

Because Hard Money and Private Money are not the same they should be delt with differently. Private Money lenders are usually the easiest to use with the easiest terms.

This is a list of lenders. I found it on another site but I thought it would b e quite helpful here as well.

** DGAdmin take it down if you think it is not appropriate**

thecreativeinvestor.com

What is your experience working with private investors? What works? What doesn't work? Any personal experiences someone would like to share?

I saw a quote on another post and wanted to cover some basic information.

I have a great quote I love to think about while getting into real estate:

“Empty pockets never held anyone back. Only empty heads and empty hearts can do that.”
-Norman Vincent Peale

Since most borrowers do not have large cash reserves on-hand for a down payment, there are other alternative sources for funding. Besides tapping into your own savings accounts, other resources may include friends, relatives, 401(k) plans, proceeds from stock sales, appraised assets, even a co-signer.

Many cities, looking to expand their communities, even offer their own down payment subsidy programs for cash-strapped buyers. It.s not uncommon to be gifted $5,000 to $10,000 without expectation of re-payment.

So you've requested a mortgage and received three or four home loan offers. Now what? Here are the most important questions to ask each lender.
1. What is the interest rate?

HI EVERYONE...I HAVE A FRIEND THAT IS HAVING A REAL HARD TIME GETTING RID OF HIS PROPERTY. HE IS GETTING TO THE POINT OF NOT BEING ABLE TO AFFORD THE CURRENT PROPERTY HE PURCHASED IN CONJUNCTION WITH HIS PREVIOUS MOBILE HOME. HE CAN'T GET ANYONE TO PURCHASE THE MOBILE HOME..HE SAYS HE HAS 65,000 LEFT ON THE PROPERTY. THE MOBILE HOME AUTHORITIES WILL NOT BUDGE ON ALLOWING HIM TO RENT THE PLACE OUT. SO, HE OFFERED TO GIVE ME THE PROPERTY...NOT GIVE BUT NO DOWN PAYMENT, AND I'LL JUST TAKE OVER PAYMENT OF THE BALANCE, TRANSFER OWNERSHIP.