All Forum Posts by: Shawn Greeves

SIMPLE!!!

Google "We Buy Houses Decatur Georgia" there's 1,900,000 results.(not all will be for wholesalers because all Google searches eventually end up at a porno site)

or 

Go to Craigs list and look for Houses wanted.

Do this and you will find ALL THE WHOLESALER'S YOU WANT!!!

I have done 3000 deals in the last 20 years and have NEVER thought that hard on a deal.

Like I said If the deals right it's right PULL THE TRIGGER!!!!

Put it on Craigs List.

Make a flyer and take it to every Real Estate Group meeting.

You can find all the groups at www.meetup.com

OH MY GOSH!!!

It's no wonder you haven't made any money!!!!

Have you herd of Paralysis of Analysis??????????

Just make sure its a good deal and the numbers work!!!!

You will be stuck at your J.O.B. until you die if you get all hung up on all that c#ap.

Just go make some money!!!!!

You can transfer title for asset protection proposes with out the lender calling the loan in because of the due on sale clause.

Besides what bank is going to call a loan in that's current????

It usually cost a big bank $10,000.00 to do a foreclosure.

I'm sure the person that started the foreclosure would get fired if the loan is current.

They might threaten but they wont do it. Just be sure to add the LLC to your insurance policy and keep your name on the policy too.

I'm assuming you would like to make money with that $20,000.00. (SAFELY)

HERE IT IS! 

BUCKLE YOUR SEAT BELT!!!!

HOW DOES 83.75% ANNUALIZED RATE OF RETURN SOUND?

ALMOST RISK FREE!!!!!!!

Here is what I do every week.

I buy below wholesale single family houses, and I mark them up $3,000.00 - $5,000.00.

Then I sell these houses to rehabbers and finance 90% of the purchase price and I charge a

6% loan fee for 6 months and 18% interest. NO QUALIFYING!

If they don't get it done and sold or cashed out with in 6 months, I charge a 6% renewal fee for another 6 months.

At a $5,000.00 mark up I create money out of thin air and finance it!

So If I make $5,000.00 mark up I will make a 25% return on my money.

IT GETS BETTER!!!

Then I charge 6% loan fee on the 90% loan.

Then I charge 18% APR interest only on the 90% loan.

So if it goes 6 months, you will get 

Sale Price $25,000.00 I will finance 90% or $22,500.00.

$5,000.00 mark up

6% loan fee $22,500.00 x 6% = $1,350.00

6 payments $22,500.00 x 1.5% (18% APR) $337.50 x 6 = $2,025.00

$5,000.00 + $1,350.00 + $2,025.00 = $8,375.00

That's 41.875% return on your money, FOR 6 MONTHS!!!  

THAT'S 83.75 APR

The rebabber is going to fix the house up and increase the value of the house.

Fixed up that house should be worth $60,000.00

Are you gonna care if he pays you or not? 

NO!

If they don't pay you foreclose and you can mark the house up another $3,000.00 or more and sell it to another rehabber.

And charge the loan fee, interest and the new 10% down payment.

GO GET RICH!!!!!!!!!!!!!!!

Shawn Greeves

Just kidding,

Get it under contract. Put as little earnest money down. With home owners I never put up any money. Even though people say you have to have at least 1 dollar to make it legal, you just need a contract.

Try to get the keys and start marketing the house.

Don't try to make a killing. So many guys don't understand you have to leave most of the meat on the bone for the guy that's gonna rehab the house.

PANIC!!!!

Definitely get an appraisal if you think the house is only worth $20,000.00

If it is correct that you said it's new construction, and almost done I'm sure it worth well over $20,000.00

If the houses in the area are going for substantially more Ray Charles can see it a $100,000.00 house or more you don't need to have your borrower pay for an appraisal.

Simple

You'll just put a First Deed of Trust or a First Mortgage (they just use different names depending what state you are in.) on the property.

Also have the owner add you to the insurance policy as your lender.

Be sure and charge a good amount of interest and points.

I'm a Hard Money Lender. I do this all the time.

BOOM you are protected

Shawn Greeves