5 June 2018 | 1 reply
The truth is the title loan company has it because they used it as collateral to get a title loan.
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12 June 2018 | 28 replies
lets say in this market your actual cash on cash with quality assets is about 5 to 7% return I think that's pretty fair in todays market on 100k rentals.. so lets say 7% of 25k.. give you 1700 a year in cash flow net.now lets say you bought a quality performing note secured on the exact same collateral.. only instead of investing 100% of value your the bank at 65% so you loan 65k your spent 75k on your down payments to generate 3X 1700 a year.and your performing NOTE on the exact same assets at 65k is making 9% which is quite doable.. so roughly 5900 a year in come on your note.. and you have ZERO cost to your note.. its just pays every month.. into your account.. so take your 5900 and 3X 1700 5100 that's 11k a year .. pay down one 75k note you will pay this off in about 7 years .your note at 65% LTV being interest only is still worth 65k.. its just a cash flow machine.. and now your free and clear asset just dropped a 500 a month payment ( just spit balling.. ) now you have another 16k a year to pay down your next note which has been paid down to say 65k with normal payments so in 5 years that's paid for then you do the next one and its paid for in 4 year lets say.. so in about 16 years you now have 3 paid for houses and your 65k note as its still an interest only note.. and its all equity.you income on those three homes and your note.. brings you up to about 3k a month or so.. and its all paid for. not a bad use of 150k to start with.. and pretty manageable for home.Or you could just buy 3 notes to start with making 14k a year in income and save it for 5 to 6 years and pay cash for homes going forward.. few ways to work it..
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19 June 2018 | 16 replies
I used deal # 2 as collateral with my bank to secure the loan and 3k out of pocket to purchase this unit.
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25 June 2018 | 11 replies
.-- Look for opportunities to recapitalize, either by raising private money (unlikely this early on) or "collateral assignment" loans to borrow at, maybe 7.5% while re-lending at 15%.-- I keep doing this until I go from $60 a month to $830 a month, which would take 28 investments assuming they were all $5k notes yielding net 7.5%.
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16 June 2018 | 1 reply
Individual loans might have more transactions costs but one loan they are all cross collateralized and you may not want that.
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18 June 2018 | 6 replies
With my collateral and everything
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19 June 2018 | 1 reply
After i rent it i wish to use this home as collateral and pull out my equity through a long term secured loan.
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20 June 2018 | 9 replies
Is there anything else you can borrow or cross collateralize from?
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20 June 2018 | 5 replies
Typically with assumable mortgages, the actual borrowing entity can only have one purpose, which is to own and operate the collateral and no other assets.
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22 April 2020 | 8 replies
I know the lender sometimes puts there own name to the deed to make sure collateral is in place as quickly as possible... and yes I agree not losing the deposit is critical for repeat business...