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Cody Lown Eager new member

26 June 2011 | 5 replies

I am currently in Kansas, rock chalk!

Michael R. Natural Gas Space Heaters

29 June 2011 | 6 replies

Williams is another popular brand.

Bill Schultz building

1 July 2011 | 5 replies

Bill the reason for the the sellers not wanting seconds is they can't dump them anymore.Used to at closing if a seller financed say a 50k second they could sell the note off for 25k and get their money and be out.Now most note buying companies are only interested in first positions unless there is a ton of equity in the property.Many buyers try to get 3 to 5 year balloons but many sellers only want 1 to 2 year balloons with 30 year AM's.What buyers do not understand is that many sellers would just as well take a cash offer for lower.Example Buyer 1:Sales Price: 200,000Seller held second at 15%:30,000Seller paid closing costs: 5,000Net to seller right now: 165,000Buyer 2 all cash purchase:180,000 with all closing costs paid by buyer.180,000 net to seller.Even though sales price is 20,000 less the seller nets 15,000 more RIGHT NOW.So what I try to hammer home to buyers is if you are trying to get a rock bottom price plus get the seller to hold a second you won't have much luck.The reason is they are probably already getting a low all cash offer already from another investor.So you can get the seller to hold a second and get the price down some but not a ton.This is what I go through with my sellers and I have to tell the buyers they will only hold a second at a higher price otherwise we will just sell to a cash investor.With the cash investor the seller is out and not attached to the property anymore which is a huge benefit to some.

Joshua Dorkin How to increase activity on BP Groups?

11 July 2011 | 11 replies

I think the members of the group are between a rock and a hard place... between sharing strategies and ideas but also competiting for the same deals..