All Forum Posts by: Gregg Coreno

Thanks for all the replies
I will add more details as I find them out. I just put what I was told on here I'm not familiar with this it's actually the first time I've heard of it. It sounds like an interesting proposal. Thanks for the feedback I will post more details when I find them out

I was approached by an investor with a unique purposal.
He had a double valued at $100k fully rented grossing $900 a month. He asked if i was interested in buying 25% of the houses equity value which at 60% would be $60k for $15k. I would make $225 a month on my $15k investment I'd have to keep the money in for 18 months and as I understood the $225 would like interest in my money. Gross 17% a yr. Backed by the equity n the house. Whenever after the 18 months I wanted my 15k investment back he would give it, or I could wait till he sold the property collect the 225 a month and collect 25% of the gross along with my initial 15k investment money. Never been approached with this before any thoughts
Thanks

I would like to know who's selling it and for how much so I can purchase it. I'm not sure where to find that info at

Thanks Will
I've decided to have an open house and see ifi can sell it conventional. However I have the deal ready with the lease option just incase I can't get a buyer
$75000 $15k down at 9.5% for 20 years. Payments will be $750 a month it's a rough deal right now but I'm using it as a back up plan. Thanks again

I just had my house appraised so I can refi. The appraiser was very nice and told me that a house right behind me was foreclosed and he was just there I believe appraising it.
How can I find out more about the house everywhere I look it says it's not for sale. I'm guessing it's a pre-foreclosure. Is there a way to find out about the property because it is a very nice home in a very very good area.
Thanks

Thanks again for the input. I usually have no trouble selling my homes however the market over here has cooled down and I'm just exploring my options because yes I would like to have the cash so I can move to another property that I just purchased but do not have the funds to rehab currently.
Will- like others have said wouldn't I have a problem selling the note fast even at 50% of the notes value if the person has only made a few payments?
Thanks again guys for your help

Thanks Jon that was very helpful.
In your opinion would it be easier to sell renting the home out and selling it as a turn-key property? Againa thank you for all your advice

Thanks for the info guys.
Yes i wasn't to sure about the whole note situation because I've never done ne before. I oly heard that you could use the note as collateral for an equity line but wasn't to sure. Thanks all the info makes sense.

I believe it's a good note : $70000 for the house $15k down and 8.5% interest rate for 20 years.

How would it work to just sell off some the note? I've never heard of that before

Thanks again

I'm new to the note world. I've been flipping for about 2 years and have flipped a few homes. I have a home that I might owner finance and had a few questions about it

Can I take an equity line out n the note for the value of the note not the house? If so who does this a bank or private party?
If I wanted to sell the note where would I go to sell it and how much do they offer for it? (50,60,70%?)

Any info would be great thank u!