All Forum Posts by: Sofia Ruano

@Kimberly Kesterke Thank you! What were the costs to file those documents? 

When you were added to the deed, the mortgage was not called due?

Did you bring the mortgage current, and then start making the payments for the original owner? 

Did you wholesale it or fix&flip it?

How do you structure a wraparound mortgage?

Does title get transferred in a wraparound mortgage?

I saw a recent Letter of Intent with an offer to the seller with an All Inclusive Trust Deed

Terms: $400,000 CASH DOWN. Seller to carry a 1st via an “All Inclusive Trust Deed” on mirror terms with a principal balance of approximately $1,086,000 at 4.27% annual interest rate. Seller to Carry a 2nd for balance of approximately $654,000.00 with an annualized interest rate of 3.75%, due in full on December 2019. The second loan will earn seller an estimated $85,837.50. Seller to be named on Property Insurance Policy to protect seller’s investment.

How would you take that LOI and turn it into a purchase contract?

Has anyone used a Reverse Mortgage to pull equity out of their home and invest in trust deeds or syndications ?

Reverse Mortgage interest rates are about ~5%..

Our house has a 1st of 20% LTV...

My husband wants to get a Reverse Mortgage up to 40% LTV, to payoff the 1st Mortgage (20% LTV) and convert the remaining 20% LTV in the form of a credit line....

We want to use half of the credit line to invest in trust deeds and syndications at 8 to 10%...

Has anyone done this ?

@alexmatevosian

Here is a flyer from CAR

I've used a Coordination Service Agreement to get paid referral fees from buyers on properties I find for them. This was in Arizona.

There are many lenders who can lend up to 90% LTC

You can find them on www.privatelenderlink.com and www.scotsmanguide.com 

Find a cash buyer and become a bird-dog for them. They can pay you referral fees for each property you find... $5k to $10k+

When I started, I went to real estate investor clubs and meetups

There is a good Real Estate Investment Association in Santa Barbara.. they meet at the Marriott in Goleta near Isla Vista:

We invest in Central Coast also.

In California we have something called a Shared Appreciation Mortgage which allows the Lender to secure a % of the total net profit...