Real estate Junkie

[Roman M.]

Hello Everyone,

I am looking to share and learn more about seller financing, buying selling notes, landlord deals, tax deed, tax liens, etc.

Looks like a good forum site for brain picking.

Roman

[Account Closed]

I am looking to share and learn more about seller financing, buying selling notes, landlord deals, tax deed, tax liens, etc.

So you want to be an instant real estate investor? That's lots to learn; tax liens, land lording, notes, creative financing.

I don't think you can learn all of those things here in one post on this forum, but this is a good start.

• Seller Financing: lots to know, how to ask for it, what to write in a contract of sale, what clauses to put into your seller financing; right of first refusal, delayed payments, principal only mortgage, stutter clauses, discount for early pay off, substitution of collateral, right to assume with release of liability.
• Tax sales are held in about 3200 counties in the US, it is possible to attend a tax sale somewhere in the US every month.  Should have cash and knowledge of the process the county uses, most of them have their own special rules. I use a method called Tax Sale Poaching, going directly to the property owner to negotiate a transaction, this eliminates the competition.
• Being a landlord is a great business, but you needs some houses to manage, and something that you need to understand, managing tenants can be challenging. I always remind folks that tenants are customers, they help us pay our mortgages. 
• Suggest you create a credit line for as much as you credit will permit, this is your negotiating reserve.  When an opportunity comes your way, you don't have to beg a lender for funds or give up a percentage to a partner.
• Find someone who is doing what you want to do, someone who has a successful investing record and a sweet net worth, a mentor (local or long distant), pay him or her for targeted training.
• You may want to keep it simple, set a small short range goal; work on creating $10,000 per deal without ownership. Look for vacant houses, contract the seller, negotiate and control the property subject to a public auction. Collect you $10,000 assignment fee and do it again and again until you get good at it.

Wishing you good luck, successful hunting and financial liquidity. Charles Parrish - Baltimore