Oct
7
Creative Financing – Wrap-around Mortgage
What is creative financing? Commonly used phrase which involves non-traditional types of funding that are not commonly used. Most of these techniques involve the seller not having to use much or any of their own money. Lease Options Subject2 deals Hard Money loans Seller financing Private loans Wrap-around Mortgages Definition of Wrap-around mortgage A seller financed deal where the sellers existing loan stays in place and a 2nd loan agreement is created between the seller and the new buyer. Example Owner of a property has a $100k existing mortgage at […]
Oct
7
Creative Financing-Subject To (Sub2)
What is creative financing? Commonly used phrase which involves non-traditional types of funding that are not commonly used. Most of these techniques involve the seller not having to use much or any of their own money. • Lease Options • Subject2 deals • Hard Money loans • Seller financing • Private loans • Wrap-around Mortgages Definition of Subject To A real estate transaction where title to the property gets transferred to the new buyer and the new buyer takes over the payments on the existing loan. The seller’s existing loan […]
Oct
7
Working Effectively With Partners
Working effectively with Partners • This might initially scare you • Keep an open mind • It is not working with some stranger; you will become friends with them and it won’t be so scary Why work with partners? • Source of money • Source of knowledge and expertise • Diversify risk • Source of deal flow • Source of credit How to work with partners? • Can own property jointly in your names • Set up entity – management agreement sets forth rules Structuring deals • Simple cash loan […]
Oct
7
Protected: Real Estate Graduation Call 9-24-2009
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