All Forum Posts by: Keith Lanier

Mr. Ricardo R, I am reviewing your last reply, I will reach out to you some of it I don't quite understand, but I am sure you could explain, directly over a conversation...Let me ask what do you do with investors, and how do you work with them?

thanks! 

I have a interesting Real Estate situation in Southern IL, that involves buying Tax Liens Foreclosures from a Lawyer, we have been purchasing properties for the last 3 years from this attorney, while me and my partner only does this part time, cause we have other business interest, I am interested in scaling this, this year we started wholesaling some of the inventory that we either wasn't interested in, or we could handle cause of our workload, now I am interested in taking on another partner for the wholesaling aspect of the business, as well as starting to also want to FSBO/owner financing the distress Real Estate, is there anyone out there that would be interested in this, or could provide advice, from a legal position, or experience position, I do realize I need some marketing as well as a solid system to do this successfully. Thanks

Thank you 

Hi Lauren, I am just getting use to this platform, when you say that you sent me a private message, where would I locate the message? Incidentally I did a little reading on you and what you do, I realize that you could be just the person I have look for to work with, Learning about creating Notes, for the real estate we buy and own, is the next process of to what we want to do, how could you be instrumental in that process? Buying and Selling Notes, can you tell me how that process works? Do you originate the Note with an attorney? Tell me how that works...Do you teach a class? thanks!!! 

Thanks....Keep me posted!

I understand now, most of the units we get are 2 and 3 bedrooms, we really just go thru a selection process, determined by the property itself...of course the 3 bedroom command a higher which means we probably paid more for the property...it usually weighs out! Do u have associates that may be interested in the Southern IL region? Thanks!

Hi Jaycee, how's it going? A little confused at your question? When u say how many rooms are we targeting? There is no specific amount of rooms, of course the more the better? I hope I answered your question, maybe present in differently...thanks Jaycee! 

Hello Lauren Sanford, of course would love to see the 14 points that make a note valuable, yes I am interested? Do you also create Mortgage Notes as well? How do we connect?

thanks!!!

Investment Info:

Single-family residence note investment investment.

Purchase price: $100,000
Cash invested: $25,000

We work with a Foreclosure Property Company Investor

What made you interested in investing in this type of deal?

I/We became interested in Foreclosure Property, cause we didn't have money to buy at a market rate, so we want to try to buy at the lowest market price, which is what Real Estate entrepreneurs do.

How did you find this deal and how did you negotiate it?

We work with a Foreclosure Company that sells to us Real Estate, at a discount.

How did you finance this deal?

We use Company CASH, or find an investor that wants to participate and JV with us, or we will put ourselves in a borrowing position to get the necessary funds for the transaction.

How did you add value to the deal?

We either take a interest in the property be getting it under contract, or we will purchase the property outright, or sell it as an wholesale assignment to a investor looking to make money on the transaction. We can also service the property with construction, management and putting the property on a HCV (Home Choice Voucher) or better know as Section 8, thru our relationships with the local County Housing Authorities.

What was the outcome?

Well the outcome is a great Investment, that returns cash, currently we are pursuing an additional strategy and that is creating Mortgage Notes from Housing Vouchers (HCV), and then to sell them to the Note Buying Investor or Institutional Investor, more on this in the near future.

Lessons learned? Challenges?

We need a strong Capital Investor/infusion, cause we could do this at a better profit margin, if we had the Capital, we have a strong demand for our investment product, there is a lot of Real Estate available and people that need the residential housing because of the influx of housing vouchers that are listed with the Local Housing Authority, these are guaranteed payments, and these houses can be sold to the voucher recipient, this is not widely known.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Currently, we are in discussions, with SIUCU, Southern Illinois University Credit Union, but we will have some hoops and hurdles to overcome.

Currently, a partner and I are wholesaling off-market, distress properties in Southern IL, some we keep and remodel and hold for Section 8, however with the Section 8 market in a couple of the Counties that we doing business in, we are thinking about creating Mortgage Notes, have never did a Mortgage Note before, however been reading and researching them, and like to connect with an attorney or someone that has experience or legal expertise in the area of Mortgage Notes. THANKS