All Forum Posts by: Shawn Greeves

Reid,

I've done 3000 deal over the last 17 years.

Here's the deal. You didn't have to call the bank and ask permission. Yes I know there's a due on sales clause in EVERY loan, But NO bank is going to call a loan due if it is current. If they did they would have to foreclose and it usually cost a bank $10,000.00 - $20,000.00 to foreclose. If you are in a Mortgage state it can take up to 2 years to foreclose. They cant just take your property. It has to go through the legal channels.

Bottom line if a bank calls a loan in just because you changed owners it will cost them THOUSANDS of Dollars. Not to mention that when they get it back they wont be able to sell it for what they are into it for thus another loss for the bank.

Believe me the bank wont call the loan in. Deed it to your LLC and forget about the bank. Also The bank doesn't care who the payments come from. THEY ARE NOT GOING TO SENT THE PAYMENT BACK to you even if The Easter Bunny makes the payment.

THEY JUST WANT THEIR MONEY!

The only way they are going to foreclose is if you don't make your payment. PROMISE!!!!! 

Shawn Greeves

St. Louis, MO

HOW ABOUT TAKING A ZERO LOSS??

If you can refi it do that and then Sell it Owner financing for $180,000.00 with $10,000.00 down. You just do a wrap around loan.

You can sell a house for more than market value if you finance.

Don't worry about a due on sales clause. NO BANK WILL FORECLOSE ON A LOAN IF A LOAN IS CURRENT AND ESPESSIALLY IF THERE IS NO EQUITY. (some one will say they will on this site but really why would they?)

Heck have the buyer buy it in a trust name. Then you can tell the bank if they ask, you are doing it for asset protection purposes. (St. Germaine Act)

You will want to have the buyer sign a 2nd to you so you will have a vehicle to foreclose if they don't pay and you can get the house back.

You also need to set their payments up to include P.I.T.I. and PAY YOU NOT THE BANK!

Set the interest rate at 10% so you can cash flow!!!

Doing financing can fix many problems. I can sell your car for $1,000.000.00 if I structure the deal right.

John,

STOP trying to get money from Banks or a Conventional lenders!!!

They DONT want to lend on fixer uppers.

You only want the money for short term anyway.

Go find private money and offer a GREAT rate of return, OR better yet get a hard money loan.

So what if you make 5 or 6 payments. Its just the cost of doing business. Factor it into the deal!!

Shawn Greeves

www.5000EZPZ.com

Brian,

Had 83 houses that I bought after the crash I held them for a while and sold them off in a matter of a few months.

I made 2 Million Dollars doing this over 4 years.

You need to find the Investor Buyers in the area of where your houses are and then Market to them.

Shawn Greeves

www.5000EZPZ.com

I operate out of St. Louis, Missouri.

I am a Hard Money Lender and I have Buyers for Single Family WHOLESALE DEALS.

Lets partner up and get your Deals sold!!

Shawn Greeves

314-920-1650

[email protected]

NO QUALIFYING FINANCING

NO CREDIT CHECKS

NO INCOME VERIFICATIONS

NO APPLICATION.

Single Family Houses in the St. Louis, Missouri area only.

90% financing

Shawn Greeves

314-920-1650

How can I post an message to possible offer my Hard Money or look for Wholesale Deal partners??