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1 November 2024 | 2 replies
Especially if you’re interested in finding off-market gems.About your first few questions when it comes to bank accounts and loans, there’s no special “land flipping” bank account, but you want one set up specifically for your real estate activity.
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1 November 2024 | 7 replies
It also sounds like this is a newer venture for you so unless you have a key partner with experience banks will also factor that into their loans.
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4 November 2024 | 8 replies
I also let him know that I would need 3 months of bank statements showing deposits going into his account from the business.
2 November 2024 | 4 replies
We understand that we'll need to use a local bank to obtain non-conventional financing as well as putting more than customary down.
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26 October 2024 | 6 replies
I have no idea why (never had a single fraud issue), but after spending several hours going down the rabbithole of figuring why this happened, we just want a solution.Some of the other banks we are with seem to make it overly complicated to have more than a single account.Any recos?
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2 November 2024 | 3 replies
Say we buy a property for $1 million, but we structure it so it's 0% down but a bank/note buyer is in place at closing to buy the note from the seller at 80% value so they walk away with 800k in cash.
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2 November 2024 | 1 reply
This allows me to get into a great property and leave the bank out.
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1 November 2024 | 19 replies
It offers a secure and transparent process for both buyers and sellers.NoteTrader Exchange: An online marketplace where you can list your note for potential buyers.LoanMLS: A marketplace for buying and selling mortgage loans and notes.FCI Exchange: Another platform where you can list and sell your notes to investors.Note Investing Forums and CommunitiesBiggerPockets: A popular real estate investing community where you can network with potential note buyers.LinkedIn Groups: Join groups focused on note investing and real estate to connect with potential buyers.National Note Group: An online community where you can connect with other note investors.Note Brokers and BuyersNote Brokers: Engage with reputable note brokers who have access to a network of note buyers.Local Real Estate Investor Groups: Attend meetings and network with local investors who might be interested in purchasing your note.Financial InstitutionsCredit Unions and Community Banks: These institutions may be interested in purchasing performing notes.Private Equity Firms: Some firms specialize in acquiring performing mortgage notes.I hope this give some direction regarding your situation.
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31 October 2024 | 2 replies
just be thankful you can get one at all. most banks simply dont offer these.
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4 November 2024 | 24 replies
There is more time invested but totally worth it for the increased cash flowHi - what bank did you get your lending from?