All Forum Posts by: Account Closed

You don't say how much the loan is for but I would say that if the tenant is credit-rated then it's a reasonable request.

Look into ratio utility billing systems (RUBS). You can bill back the utilities without expensive metering.

Thanks! That's exactly what I'm looking for. So, why do you like PropertyStick? I've never heard of them before.

I have used FreedomSoft in the past as well as a few other apps for deal analysis. Just wondering what software you guys are/have used that you could recommend and why you like it?

So, the update is that if we are pursuing this strategy SAFE Act doesn't apply. Best advice is to work with a 3rd party servicer to modify/recast the notes according to our guidelines and process the payments to ensure nationwide compliance.

Doing all this research on SAFE Act and Dodd-Frank is giving me an aneurysm. Are we bound by the rules of seller finance if we are buying the note and recasting the loan?

My state allows 3 seller-financed deals per year to owner occs but this package is nationwide and there doesn't seem to be a nationwide summary of state laws.

Not selling the notes. Just wondering who is currently employing this strategy.

Wondering if anyone is currently employing a note buying strategy where you acquire non-performing residential, owner-occupied notes and modify the loan with the current owners to keep them in the house.

Not to sell the note but to keep long-term for cash flow.

I have access to several notes at a deep discount and am not interested in foreclosing.

You're right it's the state securities office. The context is dead on in that he was soliciting money for rehabs.

Bottom line is that trust deeds are a security as defined by the Supreme Court (Money is invested in a common enterprise or endeavor, There is an expectation of profits and the profits will be forthcoming from the efforts of the promoter or third party) and means that all securities must be registered unless otherwise exempt.

Bad advice here on the topic of advertising trust deeds online not being an SEC violation. See this SEC press release for just ONE example of the SEC views it: http://www.dora.state.co.us/securities/pdf_forms/pressreleases/yates-press.pdf