- I heard about anew deal that will offer to buy a foreclosure home for up to 90 % of value on owner finance >>> with a back door of a compay who will buy the note within weeks !!! My question is this a good deal ???
- a side note to this would be a person could make a deal to buy the foreclosure from the one in foreclosure for a much less price ?? AND then sell or flip the deal to a new troubled buyer for the full value of the home with a 10 % down payment on a second note for a 100 % finance deal for the new buyer with trouble credit
It “sounds” as a very good deal. Will it happen?
Is another question.
- i do not know i was just thinking it might >>>> with this new deali heard about >>>> but iam going to do more checking in to it and may do nothing with this new thing tell after all the christmas and the like die down
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the new deal is the adding of two or three things into one
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owner mortage at 70 to 80% of apprasial value with the owner with a 30 day tell first payment
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then you sell the home to a problem credit person for 100% of apprasial value
3 ) then the note is sold to this company through a rep of theres
this has a cost of 250.00 to set up your file and account with them >>>> then they collect 1% of each and every deal profit >>>> not a bad deal as i see it >>>> will be getting in on this deal as it comes down to a flipp deal with no seasonning troubles and all is done in 30 to 90 days
Buying with owner financing then selling with owner financing then selling the note to a note buyer. What is so new about this? ???
- nothing really as i said it comes down to the combining of two or three things into one >>>> PLUS you have a place that will buy your note for cash with no seasonning issue this i think is a big thing as a lot of places will not buy a note with out some time on it being payed on
I don’t know. I put we buy notes “no seasoning” into google and quite a few willing buyers came up. And why the fee, when they are getting a note (instant equity because it is for less than the face value)?
Just asking.
- the 1% is payed to there rep that you are working with it is like a paperprocsser fee and you do not have to shop your note by going through this company and there rep that sets things up for you
No, I mean the $250 “account set-up fee”? If you go to a notebuyer they either buy the note or they don’t, you don’t need an account. If you establish a relationship with a couple of notebuyers then you don’t really need to “shop” a note anymore than you need to “pitch” a property once you establish relationships with cash investors.
Forgive me, I don’t mean to be cantankerous ::). I am just trying to get an understanding of how this would be beneficial over just going through a network of notebuyers.
Perhaps if you could tell us who or what is doing this (if that is allowed)?
8)no i can not put out in the open all the details of the program as i have become part of it sorry for this >>>> however i can pass along all the information they gave me to some of my questions first off most of your note buyers whom will buy a non seasoned note want a lot of information on the buyer fico exct. >>>> these people do not care about that as they have the real property to fall back on if all goes wrong >> as well if you go through one of there reps they will buy all notes you submit at near face value with only a 5 to 10 % discount on the face of the note this help you understand more ??
I think I do. So it is kind of like Alexander’s Inverse Purchase only with notes (I say that because of the focus on the end buyer having low fico)?
Thanks.
- yes now you are shopping so to speak in the right store !! IT is a good deal as i see it all end up in a happy place and this sure costs alot less then the other