All Forum Posts by: Yogev Finegouz

You are 100 percent wrong and also not listening to the correct advice. You can ask any experienced investor in the country if they would take you up on that and all will say no. You have to have something to add to a mentor, it's not one-sided. You will fail by acting like this because you aren't trying to create a win-win. You think the win for the mentor is talking to you and helping you? They don't know enough about what you want to even take the call.

Hello Yogev.  I am a RE mentor.  Check out my profile.  I have 25+ years of experience.  I charge a fee and can provide references.  Kind regards, James 

Right now you just have your hand out. Nobody is going to mentor you with that pitch. You need to build relationships at meetups as others said above. Ask yourself, why would someone respond to your post and say yes, I would like to mentor you? There is nothing in there.

What's your unique skillset that you could trade back to a mentor?

@Yogev Finegouz have you tried to go to local real estate meetups in your area? Lots of investors there you can meet and learn from. Also ask your friends and family. Someone knows someone who is in real estate as an investor. Lastly when you do connect with one, bring something to the table to help them out. Whether it's a new real estate deal or take them out to lunch. 

Michael, to answer you next point: The seller owns the house out-right, so they are not "pocketing" anything... that's their money. They own the house, they are the bank to the end buyer. And yes, the payments are usually handled via a loan servicing company for a minimal fee to the seller.  And Yes, the seller has the same powers as the bank (to foreclose) on the buyer if they miss their payments... again all this is standard stuff that's written into the purchase sale agreement & promissory note with the seller. 

In the case where the Seller still had an outstanding mortgage, this would NOT be called traditional "Seller-Financed" (rather Subject-to) and has way different contracts and definite risks involved, such as you mentioned.. and others like the due on sale clause which accelerates the full mortgage due if the original lender finds out the house was sold to another end buyer without them getting their mortgage paid off first. 

In Regards to the AFR, yes you are right there will be an IRS tax implication if the rate is below the AFR rate (which for non-federally subsidizes housing is 3.75%, I think) That's a nominal risk, and is offset by the income/cash-flow from the property. But yes, those greedy bastards can't help themselves to other peoples business can they? But in my experience most sellers don't know about the AFR rules, and are willing to accept the Buyers terms as long as they ultimately get a price (value) on the property they want.

That's the point of this strategy, its about finding WIN-WIN solutions for everyone involved.

Hi all - wife works at Amazon and a substantial part of her income is guaranteed monthly bonuses and eventually RSUs. Every employee at Amazon and many large tech companies are paid in a similar manner. It is very hard to find a lender that will help include this income prior to it being on a tax return for 2 years. Please help!

@Yogev Finegouz

Interest rates do not appear to be dropping significantly anytime soon. Borrow ring money like a down payment is essentially 100% financing and numbers won’t work. Need to have cash that is not borrowed to make a cash flow property positive