All Forum Posts by: Shenell Caldeira

Have you considered putting your deal into a life insurance policy? Iʻm sure in an IRA you do lose money on the down market. But with the amount you have itʻs such a great amount to start building your retirement quicker while doing some PML for real estate.

I am currently in Paceʻs mentorships and so much investors are looking for lending opportunities.  Would love to talk more and connect.  

Aloha TJ, yes most people do charge that or you can negotiate it.  I am a Gator and I work with gators as their TC. So if you have any questions, please let me know.  Iʻll also DM you my information.  

For example, I have a Gator that is lending on EMD and this borrower is giving back 100% returns. He lucked out in finding an investor that will do this. Iʻve also worked with other lenders who have gotten 20-40% returns.

Quote from @Steve K.:

Quote from @Account Closed:

Quote from @Tom Gimer:

@Account Closed Sounds like providing brokerage services to me.

There are third party note servicing companies that specialize in this. They have account setup fees, monthly fees, ACH fees, etc. so it's not cheap but also not as suspect as this very vague arrangement.

Hmmm, interesting. I guess I need to get out more.
Thanks @Tom Gimer:

I took it that their responsibility was to get the transaction completed, then they are out of the transaction, I hadn't considered they were receiving and forwarding checks on a monthly basis until the underlying note gets paid off.

There are only a few problems with going that route for creative finance.

1. there are few, willing "Servicers", to take that liability. 2. When the loan changes hands, the "servicing company" loses track and fails to contact you in time to resolve the issue which means the seller starts getting "lates" on their credit and the seller is not going to be happy about that 3. Some servicers actually do go out of business and checks stop getting forwarded. You won't know until your very angry seller calls in a rage that he is in foreclosure.

There are other reasons, when escrow amounts change, when the seller files bankruptcy, when the seller calls the bank to get their name off of the loan. You know, the usual Subto problems that no one will talk about. 

In my opinion, Subto is not a "close the deal and forget the seller" transaction, the way a property bought off the MLS using bank financing may be. The buyer needs to know the status and the sentiment of the seller at all times. Things can change quickly.

I use a TC on my transactions of course and they can send contracts out and chase sigs for me etc. but they're careful not to write in additional provisions or cross over into doing an agents job. For a TC to claim that their E&O insurance would cover everything in a subto transaction or to act as a loan servicer post closing, or to provide "subto insurance" seems a little off to me.

I was curious about the subto insurance because there’s a tab for it on the website but it seems like it just goes to a normal landlord insurance company. This may be a case like when Pace commented on here a few months ago about what to do when a loan is called but then ghosted our follow-up questions because his comment didn’t make any sense… 

Hi, I never said or claimed that my E&O would cover Subto Insurance, like a mobile notary, the company I work with they just require us to have it as would a realtor or a life and health agent. Just like a regular TC we donʻt make any provisions or cross over anything either.  We work with an affiliate that assists owners that purchase through Subto for insurance.  If you have FB, there is a free group that Pace created, Pace does talk about due on sale clause and does speak of his experience and other students will as well.  If you want to know more, our team would be happy to get on a consultation.  

Quote from @Steve K.:

Quote from @Shenell Caldeira:

Our team can help you with paperwork in Subto.  

We have a team of Transaction Coordinators at Finish Line TC Services that specialize in creative financing through Paceʻs mentorship. We are here to answer any questions you may have on our services and how we can provide value to you and your business as TCʻs. We handle all 50 states plus Puerto Rico. Feel free to book a consult!

Your website says you offer "Subto Insurance". How does this work exactly? Thanks! 

Our company works with an affiliate at Steadily who does the insurance.  When you do purchase Subto, you have to eventually obtain your own insurance.  

Some people donʻt like to deal with the paperwork, they rather concentrate on obtaining more deals, getting to contract thatʻs their focus. Some investors want to build a team to scale and TC work is one of those areas where we partner with them.  

Yes I do have E&O insurance.

They are not in escrow yet, thatʻs where we come in.  Cost varies on the type of deals, we are assisting the deal until COE.  

Find a local Title company and see if they can do the documents for you.

We have a team of Transaction Coordinators at Finish Line TC Services that are certified in creative financing. We can answer any questions you may have on our services and how we can provide value to you and your business as TCʻs. We handle all 50 states plus Puerto Rico. Feel free to book a consult!

Definitely all depends on the clients and what their current situation is and their goals.  

Quote from @Account Closed:

Quote from @Shenell Caldeira:

Our team can help you with paperwork in Subto.  

We have a team of Transaction Coordinators at Finish Line TC Services that specialize in creative financing through Paceʻs mentorship. We are here to answer any questions you may have on our services and how we can provide value to you and your business as TCʻs. We handle all 50 states plus Puerto Rico. Feel free to book a consult!

Quick question, if the Subto falls apart and the student gets sued, are you as the TC going to protect the interests of the student when they get sued?

Deal has already been negotiated between the Seller and Buyer, all docs are signed before I get it. We provide a "service".  As a TC we are processing the paperwork and being the liaison between the Seller, Buyers, and escrow.  Itʻs no different than any real estate transaction. 

Our team can help you with paperwork in Subto.  

We have a team of Transaction Coordinators at Finish Line TC Services that specialize in creative financing through Paceʻs mentorship. We are here to answer any questions you may have on our services and how we can provide value to you and your business as TCʻs. We handle all 50 states plus Puerto Rico. Feel free to book a consult!