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9 December 2024 | 5 replies
Also you would not reduce the price because of the interest payment. that is not how it works.3. yes the note could be sold, but at what type of discount and what if the borrower stopped paying.while there are a lot of posts on seller financing, some estimiate less than 1% of all transaction have seller financing and the ones that do are first position only with an average of 30% down payment - most of these are to people who do not have verifiable income.Thinking you will get conventional financing then seller financing will be uphill battle as the conventional lender most likely will not approve a 2nd mortgage for purchase.not trying to dissuade you, just wanted to provide some key insights so you do not spend 1000 hours chasing something that is impossible to find.
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7 December 2024 | 13 replies
@Brandon Eike, on an investment property, most lenders will max out their loan at 75% LTV, which doesn't cover transaction costs, which are usually 5%-8% of the purchase price.
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7 December 2024 | 5 replies
Focus on expanding your deal sources, assembling a reliable team, and learning from every transaction to refine your process.Good luck!
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9 December 2024 | 16 replies
Seasoning period is an industry term for the waiting period between your last transaction closing or funding and your next one closing or funding.
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4 December 2024 | 30 replies
Then coding the p&l can happen. without the Balance Sheet, I don't know if I am missing transactions.
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3 December 2024 | 1 reply
Recently, a real estate friend suggested I consider starting a title company, as he and his partners (primarily in commercial real estate, like strip malls) could bring business my way.While I’ve worked with title companies in my transactions, I’ve never explored the inner workings of how they operate.
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7 December 2024 | 35 replies
I never really know ahead of time which lender might be open to that before putting the full credit package in front of them, and many of them 'in theory' offer it, it's just a matter of exposing the potential transaction to enough credit unions and banks that a few "swipe left," a few "swipe right," and looking at the terms offered by those that swiped right.
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5 December 2024 | 554 replies
Every single transaction will be recorded and information will be easily available.
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7 December 2024 | 18 replies
It is very complicated; like a snowflake, each transaction is different.How do you decide risk vs. reward here?
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6 December 2024 | 10 replies
If I cancel an escrow, inspection fees or other costs associated with that failed transaction go in here.