Member
Joined: 2010-05-21
Points: 70
OfflineName:
Fredrick Reiner
Location:
Santa Barbara County & Ventura County California
About Me:
Funding : http://www.pmbintl.com/fredrick
President
All About Reiner and Associates
OfflineTopics I've Participated In
| Title | Poster | Replies | Updated |
|---|---|---|---|
| Dean Graziosi Weekly Video Blog #138 - Watch this, win Dean's iPad | dgadmin | 2401 | 8 years 26 weeks ago |
| Dean Graziosi Weekly Wisdom #184 - Logical Decisions | dgadmin | 1804 | 10 years 29 weeks ago |
| Dean Graziosi Weekly Video Blog #104 - What's Your Story? | dgadmin | 114 | 11 years 11 weeks ago |
| Conference Call - Tuesday, March 1st 2011 @ 6PM PST - "Marketing Properties for Quick Cash" | dgadmin | 95 | 11 years 34 weeks ago |
| Dean Graziosi Weekly Video Blog #102 - | dgadmin | 710 | 11 years 44 weeks ago |
Basic Info
Occupation:
Reiner and Associates LLC
Sites I Visit
Guestbook
On 15:47pm, March 21st, 2011 mikkey said:
Wrap Around Mortgage
Can anyone who has done "wrap around mortgages" explain how these work. These are owner finance deals.So if you find a seller willing to carry the note and you find a buyer to take over the payments. How do you determine the payments due and how much will you as the man in between make? Is there a formula to remember when doing this? Like how much you mark up etc.
Also if the new person does fail to make a payment, do you( me ) have to take over the payments? OR does the original owner take over again and you are out of the deal? Does all this have to go through the title agent? I may have some of these situations coming up soon and just want to make sure I understand it. Thanks for anyone who can comment and help.
Mike Patel
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Welcome Rick
Glad to have you here and I hope you will soon get your first real estate deal. IF you will fill out your profile information and let everyone know where you are and what you like to do...you might find someone in your area to partner with.