All Forum Posts by: Brian Wall

before spending any money, on any package, I always read their free articles I am sure they exist elsewhere as well.

Alan Cowgill is a big name when it comes to private money, look at some of his stuff.

What I always do is read the free articles, then if I am still interested, I will go through various forums (like this one, although I am new here), and either read posts, or post a specific question.

my 2 cents

Ok, Nick, makes more sense now.

As I said in the PM, I see that you do have a lot of experience. I would appreciate any insights you wish to share.

But to be fair, just because a company uses a land trust in a specific transaction really doesn't mean that they mimic a similar companies business model.

I do not know enough to say whether or not my partner company mimics DDS, since I am not familiar with them. If you can refer me to an objective article that describes what they do, and how that got them into trouble, I would surely appreciate it.

I would say it is pretty fair to say that any business done that involves homeowners in foreclosure is under close scrutiny by most state (and probably federal) attorney generals.

As with any business, always consult an attorney when venturing into the unknown. But, even consulting with an attorney doesn't guarantee that you will stay out of the watchful eye of the atty general.

Nick, I feel slighted, you asked for "clarification" but now I feel like you are slamming me.

The company I am working with is NOT Done Deal Solutions, never heard of them. If anyone wants to know the company name I will be happy to share, but I don't want to put their name, lest I be accused of trying to promote them!

If you really wanted "clarification", why didn't you just come out in the first place and ask if I was working with that particular company?

And just how exactly was I trying to "recruit you"?

I thought the purpose of this forum was to post questions, and share information.

In virtually any industry there will be the good and the bad. So what, deal with it, and move on.

Hi Nick,

I use the land trust to help avoid the 90 day Title seasoning issues. Basically, after the 5 day foreclosure waiting period, the homeowner puts their property into a land trust, where the homeowner retains 100% beneficial interest in the trust, until such time that the bank issues the approval letter.

I have partnered up with a company that has been doing this for quite a while. They have successfully negotiated over 450 transactions in 2008 and are on track to do over 1000 in 2009.

I am just at the tail end of closing my first deal. Market value = 135k
Approval letter = 85k

As soon as we are ready to resale, I will post deal up here on the site, but really the best buyer would be owner occupied, since it will be priced at about 10% below market value.

I am certainly not an expert on short sales, hence my partnering up.

I am just trying to focus my energies on finding deals, and outsource the negotiations.

I will take on virtually any short sale deal.

The only requirements are:
Residential only (SFR, Condo, or multi family)
Homeowner must be willing to put their property into a land trust
Must be in livable condition, no Tear Downs!

Otherwise, anything goes.

Could be listed or not. If listed, agent will get their full commission.

I will bring the cash, and negotiators.

Let partner up!

Tell me what you think would be a fair split.

Were these short sale properties, REO's or ?

Did the original seller deed the property into the land trust, at the time you made the offer?

Thanks Mark! I will check them out.

Sending to accredited investors would be ideal.

Yes, the promissory note, secured by a deed of trust is the instrument I would use to secure the loan. That is the easy part.

The part I had a question about is how can I advertise to locate investors. I know how to pull a mailing list of prospective investors (may or may not be accredited)

How can I find accredited investors?

I am looking for short sale deals in CA, AZ, NV could be listed or not. If listed, the agent gets their full commission.

We put up the money, and do the negotiating with the lender. We are the buyer. We do short sale flips, utilizing the land trust method.

We are willing to pay you a portion of the profits. I would like to hear what you think is a fair percentage, we do not have a fixed amount, as of yet.

This is a good opportunity for a motivated, self starter. No experience necessary. If you are accepted, we will train you.

We can provide NOD, NTS (in California only) list.

Thanks Jon,
I should have clarified exactly what I am wanting to do.

I am really trying to keep it simple.

I just want to be able to locate people that are willing to loan me money. 1 house, 1 loan, 1 private party lender. I will be purchasing the house in my own (my LLC) name, so I am not looking to be a note broker. I simply want to acquire several properties, with money being loaned to my LLC by private party lenders.

I have read up on Alan Cowgill's method, and understand the basics. The only piece I am missing is that the guidelines of the SEC.

Thanks!