Getting your deals DONE means understanding the KEY
INGREDIENTS of private hard money funding.
It's like baking a cake. You can't leave any of
the ingredients out, or it just FALLS FLAT.
When it comes to private hard money loans, one
of the KEY INGREDIENTS is LTV (loan to value).
It may be the most mis-understood term of all when
it comes to private hard money funding.
Private hard money lenders contact us every day and
here's how one of the lenders describes it:
"Hard money lenders are most concerned with
Loan-to-Value or LTV ratio and typically lend a
maximum of 60-65% of the value of the property.
Value is defined as 'today's sales price, the amount a
hard money lender could expect to realize from
the sale of the loan collateral/property in the
event that the borrower defaults and the
property would be sold in a 1-4 months' time.
This 'value' differs from an MAI appraised value."
Note the VALUE is a price the lender would feel
comfortable with if the borrower defaulted and they had to
sell the property within 1-4 months time. So,
they lend 60%-65% of THAT value, which means you
need to find properties with LOW LTV.
So, you find a property that has a QSV of $200,000.
The lender will loan you 60% to 65% of that VALUE,
which in this example woud be $120,000 to $140,000.
Notice that is not the "appraised value". "Appraised values"
are sometimes significantly higher. The same property
may have an "appraised value" of $250,000 based
on comps. Knock of 20% of the "appraised value" to
arrive at the QSV (quick sale value). In other words,
at that price the property would easily sell within
1-4 months.
The GOOD NEWS is that there are PLENTY of those
GREAT LOW LTV properties available. And you can
be making great profits by concentrating on those
properties.
When you're not doing it this way, you are swimming
upstream. Instead, buy RIGHT. You LOCK IN profits
when you BUY not when you SELL. Your deals are easier to
fund because they have LESS RISK. The properties
move faster on the market. They attract more interest
from homebuyers because you don't have to ask for
"TOP DOLLAR" to make money. Buyer's are able to
get better loans from conventional mortgage lenders who
get the LTV they are looking for. The buyer gets
a better interest rate. And because the LTV is
LOW, the lender may not mind if you do a partial
"seller carry back" because the combined
LTV is still low. Many investors have become
VERY WEALTHY holding seller financed notes, that
they can also use to CROSS-COLLATERALIZE other
private hard money deals and put "skin in the game"
that way, instead of cash.
You just have FAR MORE flexibility when you
PAY ATTENTION to the FUNDAMENTAL of LOW LTV.
Private hard money lenders care little about your
credit rating. Many of them don't even care if you've
been bankrupt or had a foreclosure. But they DO CARE
about the Quick Sale Value of the property.
You give yourself the EDGE when you DO THE DEAL
CORRECTLY. You have a property that PRIVATE MONEY
LENDERS want to fund. You get a reputation for
putting together SOLID DEALS.
The Ultimate REO Report makes it easy to find these
types of LOW LTV DEALS. Don't settle for "so so"
deals. Not in today's market. You can cherry-pick.
Once you have that SOLID DEAL--do your LOAN PACKAGE
correctly. The Hard Money Loan Blueprint shows
you how, step by step, so you can THINK like a
private hard money lender and know that your
LOAN PACKAGE is complete.
Did you know that there is a 100% purchase lender for deals
in all 50 states when you have a BUYER READY TO GO?
And it doesn't matter whether it is a property
under contract or you have an option. The deal
can be funded 100% in a back to back closing with the
loan fees rolled into the loan.
(Details below about how you can watch a special
1 hour webinar conducted by this lender who is
one of the 300 lenders in the 2011 Private Money Lenders
Source. )
The 2011 Private Money Lenders Source has the 300 TOP
private hard money lenders who loan on residential
and commercial investment property, nationally,
regionally, and locally. Each lender has unique
lending programs and you can read about the
programs to help you choose the right lenders to
submit your deals. You get to deal direct with
the lenders and we show you how.
Monday, February 28, 2011
Property prices will lag behind
I want to give you some news.
Interest rates are going up...
Now, depending on how you look at this it may be either
good news or bad news now that I think about it.
When rates go up the value of property goes down and vice
versa. Now, I doubt that this will be a fast moving raise but
inflation is coming and to battle that you need a raise in
interest rates – at least to partially battle it.
Also, keep in mind that property prices will lag behind the raise
in interest rates. So, it may take longer to get into that
good property. Keep that in mind too.
Another bonus with raising rates is even more owners choosing
to owner finance their properties to get a higher price.
The interesting thing is that, as the latest economic problems
have shown us – when the rates start moving up that is not
a reason to not look at opportunities since there are always
opportunities in any kind of market.
Keep an eye out and you will see what I mean.
Interest rates are going up...
Now, depending on how you look at this it may be either
good news or bad news now that I think about it.
When rates go up the value of property goes down and vice
versa. Now, I doubt that this will be a fast moving raise but
inflation is coming and to battle that you need a raise in
interest rates – at least to partially battle it.
Also, keep in mind that property prices will lag behind the raise
in interest rates. So, it may take longer to get into that
good property. Keep that in mind too.
Another bonus with raising rates is even more owners choosing
to owner finance their properties to get a higher price.
The interesting thing is that, as the latest economic problems
have shown us – when the rates start moving up that is not
a reason to not look at opportunities since there are always
opportunities in any kind of market.
Keep an eye out and you will see what I mean.
2011 Private Hard Money FUND-AMENTALS
Stick with the FUNDAMENTALS to
SUCCEED with private hard money funding
for your real estate deals.
You can make DEALS HAPPEN
RIGHT NOW. Buying and selling, rehabbing
and selling. Deals are being done ALL AROUND
YOU.
It is a FACT that the existing home inventory has
DECLINED for 6 straight months.
It is a FACT that the number of existing homes SOLD
has INCREASED for 6 straight months.
Regardless of whether or not home values are
increasing or decreasing, REAL ESTATE INVESTORS
who use the FUNDAMENTALS always seem to
succeed and make profits.
Here's WHY--
Ever wonder why successful real estate
investors are able to do 1 or 2 deals
every single month?
Even with poor-credit, bankruptcy, and even prior foreclosure?
Here's the Fundamental Success Model they use.
You just need to follow just 4 steps to get it DONE.
Step 1-
They don't just sit on the SIDELINES and complain
about lenders programs.
Investors who are making money are SUBMITTING
REAL LOAN PACKAGES. They might submit the same
property to several lenders to get it CLOSED.
They might submit several DEALS each and every
month. They make a couple of good offers a
week, each and every week.
Step 2-
They don't FALL IN LOVE with the property. Instead,
they FALL IN LOVE with getting REGULAR DEALS Done.
Spending month after month trying to find
a lender who will fund that one property that
you think is so good, but the lenders don't seem to respond?
Trying to hit a home run for $100,000 instead of going
for base hits like $10,000, $20,000 or more? Working against
the grain? NONE OF THESE APPROACHES WORK.
Instead, LEARN LENDER PROGRAMS and what KINDS
of properties they are lending on and GO GET
THOSE PROPERTIES that match up.
Step 3-
They do their homework.
Sloppy loan packages with incomplete documents
usually don't get approved, and if they do
get approved, sometimes it just takes TOO LONG
and you've already lost the contract. Lenders
can usually help you get YOUR LOAN CLOSED in just a
few days once they GET A COMPLETE PACKAGE.
Some can do it in as little as 24 to 48 hours.
Step 4-
They focus on GREAT geographical investing areas to
BUILD a DATABASE or CARD FILE, of QUALIFIED,
LOAN APPROVED END BUYERS.
Once you have a lot of buyers who you know
who are looking for property NOW, you can flip your
property faster and get on to your next deal.
The private hard money lenders like to see strong
exit strategies. Having potential buyers lined up strengthens your
exit strategy.
And all the time you'll be building a BIGGER
and BETTER file of QUALIFIED BUYERS.
And you'll be BUILDING SOLID RELATIONSHIPS with
private hard money lenders who will BACK YOU.
So, don't let ANALYSIS PARALYSIS get your
investing business bogged down.
Don't "out-think" yourself.
Don't "count yourself out".
Not every offer you make is going to get accepted
and not every loan package you submit is going to
get approved but if you COPY SUCCESS you'll
get many MORE offers approved and many MORE
loans approved, and many MORE properties sold.
And that is JUST WHAT successful investors do.
And they make a LOT OF MONEY doing it.
So, we only give you the FUNDAMENTAL TOOLS you NEED:
The Hard Money Loan Blueprint shows you HOW
to put together a Loan Package to submit to
a private hard money lender. Once you understand
the process and what the lender needs, you
will have much more SUCCESS because you'll
be doing it the RIGHT WAY, without GUESSING.
Learn the Hard Money Loan Blueprint Method Here
These private money lenders NEED to GET THE
MONEY LOANED OUT.
If they don't GET IT LOANED OUT, they lose
their INVESTORS and they LOSE MONEY.
It's "use it or lose it" money.
The 2011 Private Money Lenders Source
has 300 of the TOP private hard money lenders who loan
on residential and commercial investment
property, nationally, regionally, and locally.
You DEAL DIRECT with these lenders. And because
you'll have the Lender Programs at your fingertips
it's like having the INSIDE TRACK to funding.
Click HERE for the 2011 Version
Lenders NEED TO LOAN THE MONEY OUT on
great investment property in their
selected GEOGRAPHICAL AREAS.
The Ultimate REO Report gives you the TOP
60 DIRECT SOURCES for the BEST Bank-Owned
and Government Owned Properties, REOS,
and Foreclosures. And there are NO MONTHLY
SUBSCRIPTION FEES to have
access to these sources.
Get the Ultimate REO Report Here
EASILY FIND PROPERTIES in the GEOGRAPHICAL AREAS
where the private hard money lenders are loaning
their money out. These properties can
be acquired for PENNIES on the dollar.
You can FIND THE PROPERTIES THAT MATCH
the LENDER'S PROGRAMS!
And you can FIND THEM FAST!
They even have REO Agents assigned to them
who will HELP YOU. They will tell you about
the property, tell you about it's condition,
and even help you get your OFFER SUBMITTED.
They work for you for-FREE because the BANKS
and financial institutions are PAYING THEM.
So, it is time for you to GET ROLLING.
SUCCEED with private hard money funding
for your real estate deals.
You can make DEALS HAPPEN
RIGHT NOW. Buying and selling, rehabbing
and selling. Deals are being done ALL AROUND
YOU.
It is a FACT that the existing home inventory has
DECLINED for 6 straight months.
It is a FACT that the number of existing homes SOLD
has INCREASED for 6 straight months.
Regardless of whether or not home values are
increasing or decreasing, REAL ESTATE INVESTORS
who use the FUNDAMENTALS always seem to
succeed and make profits.
Here's WHY--
Ever wonder why successful real estate
investors are able to do 1 or 2 deals
every single month?
Even with poor-credit, bankruptcy, and even prior foreclosure?
Here's the Fundamental Success Model they use.
You just need to follow just 4 steps to get it DONE.
Step 1-
They don't just sit on the SIDELINES and complain
about lenders programs.
Investors who are making money are SUBMITTING
REAL LOAN PACKAGES. They might submit the same
property to several lenders to get it CLOSED.
They might submit several DEALS each and every
month. They make a couple of good offers a
week, each and every week.
Step 2-
They don't FALL IN LOVE with the property. Instead,
they FALL IN LOVE with getting REGULAR DEALS Done.
Spending month after month trying to find
a lender who will fund that one property that
you think is so good, but the lenders don't seem to respond?
Trying to hit a home run for $100,000 instead of going
for base hits like $10,000, $20,000 or more? Working against
the grain? NONE OF THESE APPROACHES WORK.
Instead, LEARN LENDER PROGRAMS and what KINDS
of properties they are lending on and GO GET
THOSE PROPERTIES that match up.
Step 3-
They do their homework.
Sloppy loan packages with incomplete documents
usually don't get approved, and if they do
get approved, sometimes it just takes TOO LONG
and you've already lost the contract. Lenders
can usually help you get YOUR LOAN CLOSED in just a
few days once they GET A COMPLETE PACKAGE.
Some can do it in as little as 24 to 48 hours.
Step 4-
They focus on GREAT geographical investing areas to
BUILD a DATABASE or CARD FILE, of QUALIFIED,
LOAN APPROVED END BUYERS.
Once you have a lot of buyers who you know
who are looking for property NOW, you can flip your
property faster and get on to your next deal.
The private hard money lenders like to see strong
exit strategies. Having potential buyers lined up strengthens your
exit strategy.
And all the time you'll be building a BIGGER
and BETTER file of QUALIFIED BUYERS.
And you'll be BUILDING SOLID RELATIONSHIPS with
private hard money lenders who will BACK YOU.
So, don't let ANALYSIS PARALYSIS get your
investing business bogged down.
Don't "out-think" yourself.
Don't "count yourself out".
Not every offer you make is going to get accepted
and not every loan package you submit is going to
get approved but if you COPY SUCCESS you'll
get many MORE offers approved and many MORE
loans approved, and many MORE properties sold.
And that is JUST WHAT successful investors do.
And they make a LOT OF MONEY doing it.
So, we only give you the FUNDAMENTAL TOOLS you NEED:
The Hard Money Loan Blueprint shows you HOW
to put together a Loan Package to submit to
a private hard money lender. Once you understand
the process and what the lender needs, you
will have much more SUCCESS because you'll
be doing it the RIGHT WAY, without GUESSING.
Learn the Hard Money Loan Blueprint Method Here
These private money lenders NEED to GET THE
MONEY LOANED OUT.
If they don't GET IT LOANED OUT, they lose
their INVESTORS and they LOSE MONEY.
It's "use it or lose it" money.
The 2011 Private Money Lenders Source
has 300 of the TOP private hard money lenders who loan
on residential and commercial investment
property, nationally, regionally, and locally.
You DEAL DIRECT with these lenders. And because
you'll have the Lender Programs at your fingertips
it's like having the INSIDE TRACK to funding.
Click HERE for the 2011 Version
Lenders NEED TO LOAN THE MONEY OUT on
great investment property in their
selected GEOGRAPHICAL AREAS.
The Ultimate REO Report gives you the TOP
60 DIRECT SOURCES for the BEST Bank-Owned
and Government Owned Properties, REOS,
and Foreclosures. And there are NO MONTHLY
SUBSCRIPTION FEES to have
access to these sources.
Get the Ultimate REO Report Here
EASILY FIND PROPERTIES in the GEOGRAPHICAL AREAS
where the private hard money lenders are loaning
their money out. These properties can
be acquired for PENNIES on the dollar.
You can FIND THE PROPERTIES THAT MATCH
the LENDER'S PROGRAMS!
And you can FIND THEM FAST!
They even have REO Agents assigned to them
who will HELP YOU. They will tell you about
the property, tell you about it's condition,
and even help you get your OFFER SUBMITTED.
They work for you for-FREE because the BANKS
and financial institutions are PAYING THEM.
So, it is time for you to GET ROLLING.
Don't You Quit!!
Coming up on another weekend and wanted to
throw a couple of things at you.
First, if you are frustrated at your progress so
far as a real estate investor its natural. There is
no such thing as an overnight success.
Many of us, when things get tough and are apparently
not going to be as easy for us as we once thought, decide
to give it up.
why?
Because it is easier. For many, many reasons it is easier
to give up.
Yeah, you may have given it your best shot and you may
be thinking there is not much more to give. I hear you.
But, I also know many, many just like you that if they
would have stopped and quit when they wanted to
they would be mad because it was just within
inches of what they were looking for.
So, really, you ARE closer than you think.
The easy path is always the path that, in the end,
you will be disappointed you took. Just keep
that in mind before taking it.
throw a couple of things at you.
First, if you are frustrated at your progress so
far as a real estate investor its natural. There is
no such thing as an overnight success.
Many of us, when things get tough and are apparently
not going to be as easy for us as we once thought, decide
to give it up.
why?
Because it is easier. For many, many reasons it is easier
to give up.
Yeah, you may have given it your best shot and you may
be thinking there is not much more to give. I hear you.
But, I also know many, many just like you that if they
would have stopped and quit when they wanted to
they would be mad because it was just within
inches of what they were looking for.
So, really, you ARE closer than you think.
The easy path is always the path that, in the end,
you will be disappointed you took. Just keep
that in mind before taking it.
What if you knew all the major private hard money lenders
What if you knew all the major private hard money lender
programs in the U.S.?
How much time could you save if you knew which lenders were
lending in your real estate investing area?
How much money could you save if you could compare private
hard money lenders rates and fees?
How many more deals could you do if you knew the lender
programs so well that you knew exactly what types of properties
to look for?
How much faster could you close if you could focus on the
lenders who offer funding within a week, or even within
72, 48, or 24 hours of receiving a complete loan package?
How many more deals could you get into your pipeline if you
could be making offers that were accompanied by proof of funds
letters from legitimate private hard money lenders?
Could you do BOTH residential and commercial deals if you
could submit your loan packages to lenders who are willing
to loan based on the value of the "hard asset" RATHER than
your credit-rating, personal income, tax returns, or assets?
These are a few of the REASONS so many investors and
loan brokers use the 2011 Private Money Lenders Source
for funding sources for their deals. (Yes, many loan brokers
rely on the funding sources of the 2011 Private Money Lenders
Source to service their investor client's needs.)
The 2011 Private Money Lenders Source offers what no
other source offers. Because the lender programs for the
300 top private hard money lenders are DETAILED for you,
you have all the advantages to DEAL DIRECT with the
private hard money lenders who have loaned-BILLIONS
of dollars to real estate investors for both residential
and commercial real estate, nationally, regionally,
and locally.
It just makes sense.
Once you know the funding sources and the lender programs
it is so much easier to get MORE deals done.
Private investors, real estate agents and brokers, and
mortgage brokers in both residential and commercial real estate
use the 2011 Private Money Lenders Source to put deals
together.
Both beginner investors and experienced investors
use the 2011 Private Money Lenders Source because
it is tailored to meet their needs and easy to use.
programs in the U.S.?
How much time could you save if you knew which lenders were
lending in your real estate investing area?
How much money could you save if you could compare private
hard money lenders rates and fees?
How many more deals could you do if you knew the lender
programs so well that you knew exactly what types of properties
to look for?
How much faster could you close if you could focus on the
lenders who offer funding within a week, or even within
72, 48, or 24 hours of receiving a complete loan package?
How many more deals could you get into your pipeline if you
could be making offers that were accompanied by proof of funds
letters from legitimate private hard money lenders?
Could you do BOTH residential and commercial deals if you
could submit your loan packages to lenders who are willing
to loan based on the value of the "hard asset" RATHER than
your credit-rating, personal income, tax returns, or assets?
These are a few of the REASONS so many investors and
loan brokers use the 2011 Private Money Lenders Source
for funding sources for their deals. (Yes, many loan brokers
rely on the funding sources of the 2011 Private Money Lenders
Source to service their investor client's needs.)
The 2011 Private Money Lenders Source offers what no
other source offers. Because the lender programs for the
300 top private hard money lenders are DETAILED for you,
you have all the advantages to DEAL DIRECT with the
private hard money lenders who have loaned-BILLIONS
of dollars to real estate investors for both residential
and commercial real estate, nationally, regionally,
and locally.
It just makes sense.
Once you know the funding sources and the lender programs
it is so much easier to get MORE deals done.
Private investors, real estate agents and brokers, and
mortgage brokers in both residential and commercial real estate
use the 2011 Private Money Lenders Source to put deals
together.
Both beginner investors and experienced investors
use the 2011 Private Money Lenders Source because
it is tailored to meet their needs and easy to use.
What It Takes To Be Successful At This...
Are you reading real estate investment books?
Are you taking real estate investment courses?
Are you taking or attending seminars?
Are you investing in property analysis software?
Good, all this is good.
But all good intention and intent to take action
does not replace, well, taking action.
Some of you will need to take probably the
biggest step and that is taking action in investing
in a property. You will have to have faith
that what you learned and what you have done
up to this point is going to propel you forward.
At some point, you will have to take the step from
“learner” to “doer”. This is a process that you
don’t rush, but, you don’t wait too long
to do either.
Are you taking real estate investment courses?
Are you taking or attending seminars?
Are you investing in property analysis software?
Good, all this is good.
But all good intention and intent to take action
does not replace, well, taking action.
Some of you will need to take probably the
biggest step and that is taking action in investing
in a property. You will have to have faith
that what you learned and what you have done
up to this point is going to propel you forward.
At some point, you will have to take the step from
“learner” to “doer”. This is a process that you
don’t rush, but, you don’t wait too long
to do either.
Attempting To Attract Private Investor Money
Last Chance! Don't You Dare Begin Attempting to Attract Private Investor Money UNTIL
You've Discovered How to Create Iron-Clad Private Placement Memorandums That
Spark Investor Interest WHILE Protecting Your Business!
The webinar starts in a couple of hours!
I urge you to NOT take another step forward UNTIL you've discovered how to create
Private Placement Memorandums.
What are Private Placement Memorandums?
Only probably the single most important document you can prepare as a private-funds
seeking real estate investor, that's all. Done right, a Private Placement Memorandum
will help you:
- Impress and attract potential investors!
- Ensure your deals are always structured properly ... and profitably!
- Protect yourself should one of your deals ever go sour!
And on the other hand, Private Placement Memorandums done wrong, or not at all,
could easily spell the end of your investing career.
So have I got your attention?
I certainly hope so, because when it comes to succeeding as a real estate investor
few things are as important as knowing how to create a proper Private Placement
Memorandum.
Unfortunately, few things in the real estate investing world are also as complex as
creating Private Placement Memorandums.
To untangle this, Alan is holding a very special webinar where he paid his SEC attorney
to help us understand the details on the PPM. Here is just a couple of the items he
will cover in detail...
1. So, what kind of information goes into a PPM?
2. How does a PPM compare to just raising money from family, friends and associates?
3. How much money can someone raise using a PPM?
4. Is any advertising allowed under the rules covering PPMs?
5. Can people raise money to invest in something other than real estate using a PPM?
You've Discovered How to Create Iron-Clad Private Placement Memorandums That
Spark Investor Interest WHILE Protecting Your Business!
The webinar starts in a couple of hours!
I urge you to NOT take another step forward UNTIL you've discovered how to create
Private Placement Memorandums.
What are Private Placement Memorandums?
Only probably the single most important document you can prepare as a private-funds
seeking real estate investor, that's all. Done right, a Private Placement Memorandum
will help you:
- Impress and attract potential investors!
- Ensure your deals are always structured properly ... and profitably!
- Protect yourself should one of your deals ever go sour!
And on the other hand, Private Placement Memorandums done wrong, or not at all,
could easily spell the end of your investing career.
So have I got your attention?
I certainly hope so, because when it comes to succeeding as a real estate investor
few things are as important as knowing how to create a proper Private Placement
Memorandum.
Unfortunately, few things in the real estate investing world are also as complex as
creating Private Placement Memorandums.
To untangle this, Alan is holding a very special webinar where he paid his SEC attorney
to help us understand the details on the PPM. Here is just a couple of the items he
will cover in detail...
1. So, what kind of information goes into a PPM?
2. How does a PPM compare to just raising money from family, friends and associates?
3. How much money can someone raise using a PPM?
4. Is any advertising allowed under the rules covering PPMs?
5. Can people raise money to invest in something other than real estate using a PPM?
BEST opportunities that exists to GET DEALS FUNDED FAST.
Now it's time to get down to business and get some DEALS DONE.
I've had so many people e-mail us about some of the lenders
featured in the newsletter that I want to take a few minutes
and review one of the absolute BEST opportunities that
exists to GET DEALS FUNDED FAST.
It's called "Flash Funding" and you guessed it, that is because the
entire deal is closed and funded SO QUICKLY!
The best thing about it is that you can get 100% FUNDING.
No joke.
It's the easiest way to get MORE DEALS CLOSED and FUNDED.
But you need to know HOW to do it the RIGHT WAY.
Check out this NATIONWIDE LENDER (Just ONE of the
300 TOP lenders in the 2011 Private Money Lenders Source):
"100% Loan to Value--All Transactions are 100% LTV,
including closing costs. That means no money out of your pocket
to close your deals! Approvals are based entirely on the deal.
That means no-credit-checks, appraisals, or other
personal financial requirements."
Why are you not doing these DEALS?
You could be.
Let me ask you a question, Mary.
Do you think you can go out and find a BUYER for a PROPERTY
that you control?
Residential OR Commercial.
You decide.
If you really want to, you CAN do it.
Here's EXACTLY what the lender NEEDS from you:
•Amount of money you need to borrow
•Proof of your control or interest in the property: memorandum of trusts, notice of option or deed
•A to B Contract: first closing (where you are the buyer)
•B to C Contract: second closing (where you are the seller)
•Copy of the Short Sale Approval Acceptance Letter
•A to B and B to C (estimated) HUD1 settlement statements
•Preliminary Title Report from Escrow/Title (Prelim)
•Closing Location (name of closing agent and contact information)
•Closing Date
They ask you to give them 48 hours notice. And once you are a client
and have done your first deal, they can even do deals the SAME DAY.
They will also provide you with a Proof of Funds letter.
AND walk you through it all.
The lender will also provide you with other resources you need,
including:
•Option Contract for Purchase and Sale
•Notice of Option Contract
•Affidavit (Disclosures)
•Addendum To Option Contract
You can do these DEALS on almost any property and it
doesn't have to be a foreclosure, or a REO. It also works
perfectly for SHORT SALES. It can be the house right
across the street or the little strip mall downtown.
You could be out there doing a deal this week!
You need funding and you need buyers and we have
resources that can help you with both.
The 2011 Private Money Lenders Source has the TOP 300
private hard money lenders who loan on residential and
commercial investment property, nationally, locally, and
regionally. You deal DIRECT with the Lenders.
The Active Buyers Magnet will help you create MULTIPLE
STREAMS of motivated BUYERS who want to buy
homes and wholesale investment property.
Think of what you can do when you COMBINE these
powerful resources to start getting these deals DONE.
Today, for those who order the 2011 Private Money Lenders Source
and the Active Buyers Magnet, not only will you NOT HAVE
to PAY THE REGULAR RATE, you'll get the newsletter
subscriber rate of almost 50% off.
So, you'll not pay $197 for the 2011 Private Money Lenders Source,
you will pay only $99.95.
And instead of $97 for the Active Buyers Magnet, you
will pay only $47.
That's a savings of almost $150 off the regular rate.
CLICK HERE for DETAILS.
And if you need to find the best properties,
we have resources for that too--it's called the
Ultimate REO Report...check it out.
Get started with one, two, or all three and get your deals ROLLING!
And for those who order today, we'll also give you
the DIRECT LINK to the FEATURED LENDER in
today's newsletter and INCLUDE a link to a 1 hour lender
webinar so you can quickly learn HOW to SUBMIT
your deals for FUNDING.
(PS. You don't need to buy a $1000 or $2000 course to get this lender.
And that's what some of the "others" are charging.)
Now you can start getting MORE DEALS DONE!
I've had so many people e-mail us about some of the lenders
featured in the newsletter that I want to take a few minutes
and review one of the absolute BEST opportunities that
exists to GET DEALS FUNDED FAST.
It's called "Flash Funding" and you guessed it, that is because the
entire deal is closed and funded SO QUICKLY!
The best thing about it is that you can get 100% FUNDING.
No joke.
It's the easiest way to get MORE DEALS CLOSED and FUNDED.
But you need to know HOW to do it the RIGHT WAY.
Check out this NATIONWIDE LENDER (Just ONE of the
300 TOP lenders in the 2011 Private Money Lenders Source):
"100% Loan to Value--All Transactions are 100% LTV,
including closing costs. That means no money out of your pocket
to close your deals! Approvals are based entirely on the deal.
That means no-credit-checks, appraisals, or other
personal financial requirements."
Why are you not doing these DEALS?
You could be.
Let me ask you a question, Mary.
Do you think you can go out and find a BUYER for a PROPERTY
that you control?
Residential OR Commercial.
You decide.
If you really want to, you CAN do it.
Here's EXACTLY what the lender NEEDS from you:
•Amount of money you need to borrow
•Proof of your control or interest in the property: memorandum of trusts, notice of option or deed
•A to B Contract: first closing (where you are the buyer)
•B to C Contract: second closing (where you are the seller)
•Copy of the Short Sale Approval Acceptance Letter
•A to B and B to C (estimated) HUD1 settlement statements
•Preliminary Title Report from Escrow/Title (Prelim)
•Closing Location (name of closing agent and contact information)
•Closing Date
They ask you to give them 48 hours notice. And once you are a client
and have done your first deal, they can even do deals the SAME DAY.
They will also provide you with a Proof of Funds letter.
AND walk you through it all.
The lender will also provide you with other resources you need,
including:
•Option Contract for Purchase and Sale
•Notice of Option Contract
•Affidavit (Disclosures)
•Addendum To Option Contract
You can do these DEALS on almost any property and it
doesn't have to be a foreclosure, or a REO. It also works
perfectly for SHORT SALES. It can be the house right
across the street or the little strip mall downtown.
You could be out there doing a deal this week!
You need funding and you need buyers and we have
resources that can help you with both.
The 2011 Private Money Lenders Source has the TOP 300
private hard money lenders who loan on residential and
commercial investment property, nationally, locally, and
regionally. You deal DIRECT with the Lenders.
The Active Buyers Magnet will help you create MULTIPLE
STREAMS of motivated BUYERS who want to buy
homes and wholesale investment property.
Think of what you can do when you COMBINE these
powerful resources to start getting these deals DONE.
Today, for those who order the 2011 Private Money Lenders Source
and the Active Buyers Magnet, not only will you NOT HAVE
to PAY THE REGULAR RATE, you'll get the newsletter
subscriber rate of almost 50% off.
So, you'll not pay $197 for the 2011 Private Money Lenders Source,
you will pay only $99.95.
And instead of $97 for the Active Buyers Magnet, you
will pay only $47.
That's a savings of almost $150 off the regular rate.
CLICK HERE for DETAILS.
And if you need to find the best properties,
we have resources for that too--it's called the
Ultimate REO Report...check it out.
Get started with one, two, or all three and get your deals ROLLING!
And for those who order today, we'll also give you
the DIRECT LINK to the FEATURED LENDER in
today's newsletter and INCLUDE a link to a 1 hour lender
webinar so you can quickly learn HOW to SUBMIT
your deals for FUNDING.
(PS. You don't need to buy a $1000 or $2000 course to get this lender.
And that's what some of the "others" are charging.)
Now you can start getting MORE DEALS DONE!
Sunday, February 20, 2011
All investors You need to try this
Last month it took me 48 hours to sell a house from the day I got it until the day I signed a contract to sell it. It was another 7 days before I closed and got $10,000 in my hand... plus $450 a month cash flow
The house was a total mess. The carpet even had dog poop on it, there was junk all over the place.
Last week, my kids closed on a wholesale deal and got just shy of $6000. It took 7 days from the day the buyer signed the contract until the day they closed.
This week, I got 50 phone calls from potential buyers for a property I foreclosed on February 1st (I sold it 10 years ago) but did not start marketing until February 5th because the weather was bad...I currently have a bidding war going on about who will pay the most money. I will close on Thursday, February 17th with the highest bidder.
This house is a total mess. The guy I foreclosed on stole the HVAC system, water heater, carpet and dishwasher. Some broken windows. The walls are funky colors and there is junk all over the place... including dirty dishes in the sink and stuff all over the kitchen countertops. The garage is full of junk too but I could not see it all because I didn't bother to get the utilities turned on.
So.... how did I get these houses sold so fast?
I offered seller financing!
When you sell "as is" ( I mean don't do anything) the buyer is more likely to perceive that they are getting a heck of a deal if you price it right. Depending on the repairs needed, your sales price should be 20-30% below market value.
The financing is what attracts the buyers and seals the deal FAST!
Most of my buyers tell me they record every HGTV show about remodeling houses and they've been anxious to find one they could buy, fix up, and make their own. But without the seller financing it would not be possible.
So... moral of the story.... You will sell houses much faster if you STOP doing rehabs and start selling AS IS with seller financing. You'll get a nice down payment and monthly payments too. So it's like the house that keeps on paying. If the buyers stops paying you just sell it again and get another down payment.
$10,000 here, $6,000 there, $7,000 next week, $3,500 the week after that... it's not big paychecks, but it's like a money machine.
Even if the financing is for one year only, it will give the buyer a chance to fix up the place and get it refinanced so you can get cashed out later. But you need to be prepared to hold the financing forever because it is harder for people to get a new loan. That's why offering seller financing is so popular now!!
You can sell a lot of houses very quickly if you don't do any repairs and offer seller financing.
I'll have more details about how to find the deals and the buyers in the forum at www.CashFlowDepot.com
Try selling your next house "as is" with seller financing... you'll be amazed at how fast you can sell houses.
To Your Extreme Success,
The house was a total mess. The carpet even had dog poop on it, there was junk all over the place.
Last week, my kids closed on a wholesale deal and got just shy of $6000. It took 7 days from the day the buyer signed the contract until the day they closed.
This week, I got 50 phone calls from potential buyers for a property I foreclosed on February 1st (I sold it 10 years ago) but did not start marketing until February 5th because the weather was bad...I currently have a bidding war going on about who will pay the most money. I will close on Thursday, February 17th with the highest bidder.
This house is a total mess. The guy I foreclosed on stole the HVAC system, water heater, carpet and dishwasher. Some broken windows. The walls are funky colors and there is junk all over the place... including dirty dishes in the sink and stuff all over the kitchen countertops. The garage is full of junk too but I could not see it all because I didn't bother to get the utilities turned on.
So.... how did I get these houses sold so fast?
I offered seller financing!
When you sell "as is" ( I mean don't do anything) the buyer is more likely to perceive that they are getting a heck of a deal if you price it right. Depending on the repairs needed, your sales price should be 20-30% below market value.
The financing is what attracts the buyers and seals the deal FAST!
Most of my buyers tell me they record every HGTV show about remodeling houses and they've been anxious to find one they could buy, fix up, and make their own. But without the seller financing it would not be possible.
So... moral of the story.... You will sell houses much faster if you STOP doing rehabs and start selling AS IS with seller financing. You'll get a nice down payment and monthly payments too. So it's like the house that keeps on paying. If the buyers stops paying you just sell it again and get another down payment.
$10,000 here, $6,000 there, $7,000 next week, $3,500 the week after that... it's not big paychecks, but it's like a money machine.
Even if the financing is for one year only, it will give the buyer a chance to fix up the place and get it refinanced so you can get cashed out later. But you need to be prepared to hold the financing forever because it is harder for people to get a new loan. That's why offering seller financing is so popular now!!
You can sell a lot of houses very quickly if you don't do any repairs and offer seller financing.
I'll have more details about how to find the deals and the buyers in the forum at www.CashFlowDepot.com
Try selling your next house "as is" with seller financing... you'll be amazed at how fast you can sell houses.
To Your Extreme Success,
Sample Proof of funds Letter
Sample Proof of Funds Letter
[Bank's Letterhead must be used here]
To:
Copy:
________________
Dear Sirs, Date
Subject: Proof of Funds Letter
We confirm, that _____________________ [Name of Company / Individual] has available the sum of _________________ USD in our bank as of this date.
We confirm that these funds are fully free of any liens, debts and/or encumbrances and are clean, clear and non-criminal origin and are available in the form of ____________________.
________________________________________
We need the following information about
two authorized contact persons at the guarantor bank.
NAME TITLE PHONE # FAX #
1. ____________________ ___________________ ____________ ____________
2. ____________________ ___________________ __________ ____________
________________________________________
Should you require verification of the above mentioned funds, please, contact us at your convenience.
Yours truly,
_________________ _________________
Authorized Officer Authorized Officer
_________________ _________________
Date Date
Real Estate is a people business
#1 reason people have a hard time getting started or fail as a real estate entrepreneur.
What is it?
Instead of focusing on how to create solutions for sellers, most people focus on how to make every real estate deal fit into a certain technique they want to use.
Real estate is a people business. Instead of asking sellers if they will sell with a lease option or making half price offers to every seller, you need to sit down and talk with them so you can discover what the seller's problems are. You need to determine what the seller really wants and needs and then create a solution which will help them achieve that goal.
Here are a few examples:
EXAMPLE #1
A few months ago I sent a lead to a new investor in California. The seller had an older mobile home she wanted to sell for $8,000. The new investor immediately offered her $4,000 with hopes that she could flip it to another investor for $6,000 - $8,000. ( the investor just wants to do wholesale deals)
What was missing?
The communication with the seller! Why were they selling? What repairs were needed on the mobile home? Why did they need $8,000? What did they plan to do with the money? What was Plan B if they could not find a buyer? What were they paying in lot rent, taxes, insurance? Where were they planning to move to.. and when?
Unless ...and until you get the answers to some basic questions you can't make a reasonable offer that will solve the Sellers problem.
For example, if you found out that the $8,000 was going to be used to pay off medical bills... then you can see how your $4,000 offer would not solve their problem
But if you offered to pay the medical bills for them - over time... it would solve their problems.
If you could negotiate monthly payments that are low enough on the medical bills, then you could rent the mobile home (or sell with seller financing) for a nice down payment and a positive cash flow.
EXAMPLE #2
Another investor calls every FSBO seller and makes half price all cash offers. He has had very little success. Why? He failed to talk to the seller before making his offer to determine if there is a mortgage and what the balance is. A half price offer of $50,000 won't help a seller with a $80,000 mortgage on a $100,000 house.
But there are other solutions. You must get all the facts before you can formulate an offer.
EXAMPLE #3
Another new investor is contacting every seller and asking if they will do a lease option.
Well, some will, but most won't. Until you discover what the Seller needs and wants and why, and the details about the financing on the property the chances of you making a deal are slim to nothing.
You need to thoroughly understand the Seller's situation then CUSTOMIZE a solution which will work for you and work for them. Then you need to explain the benefits of your offer to the seller in simple, easy to understand language.
Peter uses a T-Bar with the benefits to him on one side and the benefits to the seller on the other side. The VISUAL helps the sellers to understand "what's in it for them" and that will get more Sellers to say YES! to your offers.
Spend more time talking to Sellers about the total situation BEFORE you make offers. If necessary, get on the forum to get help structuring offers.
The result will be that you are able to help a lot more Sellers, you'll do many more successful real estate transactions, and you will be able to achieve your goals as a real estate entrepreneur.
To Your Extreme Success,
What is it?
Instead of focusing on how to create solutions for sellers, most people focus on how to make every real estate deal fit into a certain technique they want to use.
Real estate is a people business. Instead of asking sellers if they will sell with a lease option or making half price offers to every seller, you need to sit down and talk with them so you can discover what the seller's problems are. You need to determine what the seller really wants and needs and then create a solution which will help them achieve that goal.
Here are a few examples:
EXAMPLE #1
A few months ago I sent a lead to a new investor in California. The seller had an older mobile home she wanted to sell for $8,000. The new investor immediately offered her $4,000 with hopes that she could flip it to another investor for $6,000 - $8,000. ( the investor just wants to do wholesale deals)
What was missing?
The communication with the seller! Why were they selling? What repairs were needed on the mobile home? Why did they need $8,000? What did they plan to do with the money? What was Plan B if they could not find a buyer? What were they paying in lot rent, taxes, insurance? Where were they planning to move to.. and when?
Unless ...and until you get the answers to some basic questions you can't make a reasonable offer that will solve the Sellers problem.
For example, if you found out that the $8,000 was going to be used to pay off medical bills... then you can see how your $4,000 offer would not solve their problem
But if you offered to pay the medical bills for them - over time... it would solve their problems.
If you could negotiate monthly payments that are low enough on the medical bills, then you could rent the mobile home (or sell with seller financing) for a nice down payment and a positive cash flow.
EXAMPLE #2
Another investor calls every FSBO seller and makes half price all cash offers. He has had very little success. Why? He failed to talk to the seller before making his offer to determine if there is a mortgage and what the balance is. A half price offer of $50,000 won't help a seller with a $80,000 mortgage on a $100,000 house.
But there are other solutions. You must get all the facts before you can formulate an offer.
EXAMPLE #3
Another new investor is contacting every seller and asking if they will do a lease option.
Well, some will, but most won't. Until you discover what the Seller needs and wants and why, and the details about the financing on the property the chances of you making a deal are slim to nothing.
You need to thoroughly understand the Seller's situation then CUSTOMIZE a solution which will work for you and work for them. Then you need to explain the benefits of your offer to the seller in simple, easy to understand language.
Peter uses a T-Bar with the benefits to him on one side and the benefits to the seller on the other side. The VISUAL helps the sellers to understand "what's in it for them" and that will get more Sellers to say YES! to your offers.
Spend more time talking to Sellers about the total situation BEFORE you make offers. If necessary, get on the forum to get help structuring offers.
The result will be that you are able to help a lot more Sellers, you'll do many more successful real estate transactions, and you will be able to achieve your goals as a real estate entrepreneur.
To Your Extreme Success,
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