megabucks41

OK let me ty again. seller wants to sell fast so he offers owner financing well he not a bank so here he is with a buyer that is willing to pay a higher interest rate with little down and no bank financing the seller wants his cash so let say that the property is worth $350K he owes $150K he is going to sell for $300K with interest of say 11% for 30 years to the buyer now he has two choices either he keeps the mortgage himself or he sell the note to a note buyer let say $245K that's money right now he then pays what he owes and keeps a profit of say $95K everybody wins. Can this be done what is the pros and cons

I am talking about setting up the owning financing, Once there is a note how does the seller get's his money now he has to know where to take that note in order for him to get paid.

Well as I keep trying to put a CA in place with these sellers here in my local area of Miami I keep hitting a wall of no's and that ok because in this game everything is a numbers game. I will say some of the area websites like Craigslist has been over taken by real estate agents disguise as FSBO so now searching for FSBO's is getting tougher and tougher, And of course we call on FSBR but heck this is their time rents are going up all over so they don't want to give up the cash cow right now, There are some but not many. Anyhow my question is can we provide help to the FSBO by helping them set up Owner financing? It would seem to me that if sellers are having problems finding people to buy their homes that can't find financing because of what ever reason then perhaps if they were to be able to offer them owner finacning they could sell faster. Now you could work with anyone who wants to sell their home. Now question is has anyone ever done this before? What is the best way to set it up? what are the forms needed? What is the time frame to to close? And most important what is the best way to get paid on providing this service? Thanks all for the help

Hey Amigo have a great B-day from down South in the Miami Areas

10 years ago in Miami Beach a one bed room apartment went for about $275.00 today that same 1/1 in the same location I would have to pay between $1,200.00 to $1,800.00 now if I would have owned the unit and my mortgage might have been say $500.00 to $700.00 if that. Now if I would have been the person who purchase this unit when the Bad Real Estate times of the early 80's I would be making a killing on cash flow today. Now here we are again in bad times because mortgages back then we had the same with what very interest rates and today is the sub-prime, either way it had to do something with a mortgage. And yet just like today we should be buying instead of renting

Rent, Don't Buy, Your Home By Justin Ewers, usnews.com Jun 26th, 2008 ARTICLE TOOLS: Email article Printable view IM article Save to del.icio.us Bookmark Real-estate agents have been pushing the virtues of homeownership since homes were invented. Or since real-estate agents were invented, anyway. Paying a mortgage, they insist, is a can't-miss investment (the tax breaks, the appreciation, the thrill of fixing your own roof!). Renting is for simpletons who don't like keeping their own money. More from U.S. News & World Report » 6 Secrets of Internet Home Buying » Is For Sale By Owner Right for You? » 3 Key Ways to Buy Foreclosed Properties But does owning a home really trump renting? With the economy stumbling, house prices falling, and credit tightening, many housing experts are questioning the conventional wisdom. "Over the last decade, it may have been true," says W. Van Harlow, an economist at the Fidelity Research Institute. "Clearly, there are periods where [the housing market] will dominate. But give this market correction another 18 months, and it may not be true anymore." Not so hot. The housing boom produced endless stories of homeowners getting twice what they paid for their homes. But "prices don't always go up," says Jay Butler, director of realty studies at Arizona State University. Even a boomtown like Phoenix has seen median rates of appreciation climb only 4.6 percent a year since 1981. According to a Fidelity study published this year, the return on a dollar invested in real estate in 1963 barely beat that of a low-risk treasury bill. When the housing market slumps—as it has every 10 or 15 years for the past several decades—homeownership becomes little more than renting, from a bank. Without appreciation, buying a $400,000 house—instead of renting the same property for, say, $2,000 a month—can turn into an expensive, potentially money-losing proposition. Assuming home prices come out of their death spiral (prices fell 4.5 percent in the third quarter compared with last year), they would still have to appreciate at 4 percent every year for a decade—even if rents climbed well above the rate of inflation—before a family would save more owning than renting. An $80,000 down payment could be invested instead in a mutual fund earning 8 percent, and housing comes with myriad other expenses, from maintenance to insurance to taxes, none of which build equity. Tax breaks do ease the pain. But with the average family staying in a house only six years, homeownership during a slump (especially in foreclosure pits like Las Vegas and Tampa, where prices have dropped more than 9 percent since last year) can look less and less like the American dream. Renting, meanwhile, has its virtues. It's cheaper in the short term, it offers maximum flexibility, and it pushes the headaches of maintenance and taxes onto landlords. It can also be a sound long-term investment. According to Fidelity, if renters save even $300 a month—the difference, say, between their rent and a monthly mortgage payment—that money, invested in stocks growing at only 4 percent, could add up to $114,000 in 20 years. (And that's on top of earnings on a down payment that never had to be made.) "Over long horizons, if you reinvest the savings," Harlow says, "you're probably not going to find that much difference between renting and buying." Saving hasn't proved to be the national forte, of course. But with the bloom off the homeownership rose, it may have to be soon I just wonder how many times has this person leased or rented a home where the rent goes up every year and landlords don't always fix doorknobs when they should. Short term yes but long term renting is not a good idea my two bits and I have been a renter for most of my life.

Bev I woke up one morning thinking I was one of the worlds greatest minds to think that I could use a raffle to sell a house now I have seen this before but for massions worth million of $$$$ never for your average home. So thinking to myself that I was indeed one of the worlds greatest minds I set off to write my plan then I sent it to my real estate attorney who after hearing this idea wanted to become my partner so he took it to a friends of his that was a judge and after three days of review I was given the go ahead but there was a few things that I was going to need in place at the drawing for one an accountant the attorney agreed to be there also and you have to give some of the profit to charities which ever ones you want. Now lets take a look at who will help you market this deal using charities, you call all local churchs, daycares, coaches at your local parks and what ever charities you want of course I contact the one closes to real estate. Now all these people need money so I put them to sell tickets they keep $25 from every $100 ticket they sell my goal is to move 10,000 to 15,000 tickets without having to use a large marketing campany for the first two deals. After that then I would bring in all the big guns including all local news stations because someone given away a home free and clear in any market is great news not to mention the charities that you are going to help with a portion of the profits. WoW they would eat this up. Now in my market I could find a home to sell in this manner at about $200K to $350K now just run the numbers and you will see what your ticket goals will have to be in order for this to work well. And I must call it a sweepsteak deal. I live in Miami FL. and there are a few more rules to deal with but it is legal and I will be doing this first deal starting July 1, 2008 I will post how it goes. Hope this help anys other question you got my number.

Most of the business I get with this approach is not from experienced landlords. It's from Joe Homeowner, who maybe buys and sells three houses in a lifetime. Now he finds hinself in a situation he neither understands nor likes: a house he can't sell and a mortgage payment he can't make. I come along, offer my know how with lease purchasing, and suggest that we also consider a straight rental so as to cover all bases. All he wants is debt relief, and that's what I'm offering to take care of. That's easy. The house or condo you want to move in to. And at no cost to you, the tenant. Do you think the prospective tenant cares that his first call and conversation is with me and not the owner? That hasn't surfaced, not once. once again the perfect answer, I'm going to try this also because it's kinda of ruff out here with these prices and market conditions.

I totally get it, (Owner is going to pay me to find him a rent) but I must say or better ask, Why would an owner pay for something that he can do himself? And as a renter what am I getting in return for doing business with you? And what kind of a rent is the owner asking market o below market. I can see if I am a renter and someone finds me a home to rent that is lower then market values I wouldn't mind paying a one time fee. If the property is in a middle area where most people are owners and someone finds me a deal whereby the average person would not be able to find this deal unless he went with an agent I could see me paying more to get in. Ex. In Miami $1,500 rent then there is first and last plus one security if you tell owner you can put a quality tenant in their unit but instead of 2 months rent he will get 1month plus security. you keep what ever part of the second, I could see this helping the owner. Renter still has to pay 1st 2nd and security Ex. In Miami Lakes $25001st & 2nd plus security 3Bd/2Ba But they come to you, You put the in for $23001st $0 2nd plus security. Owner pays you a consultation fee of say $700 for Marketing and qualifing Tenant. Then I can see how renter wins and you win and home owner fills propeties fast with quality tenants But why would he pay for something that he could do him self after all times are hard.

Great topic down here in Miami Fl. it's been tuff as low as prices keep dropping alot of owners down here are lowering their prices I still see the same areas for the same sq. footage at a high rate in fact the owners in the Broward areas have done a way better job at bringing their prices down. Even the Banks that we were doing short sales on did not want to lower the price on three deals we were working on like they were a few months ago. I have notice that in some areas the best prices are being given by Realtors. I don't know if they are getting these prices from short sales or low balling their clients but either way their prices seem to be a lot better then the FSBO are given, now that's in the Miami areas like I said Broward is a lot better. I have seen properties that are 4Bd/2Ba going for as low as $179K but are worth about $278K and up. Never the less I still am in love with the concept of the CA. for a business model and then again thee is nothing wrong with other source of income say selling min doughnuts around the corner and always remember this clip. http://www.youtube.com/watch?v=_ErR8OcBlO4&feature=email

Individual Steals 1. West Palm Beach, FL Asking: $115k Fair Market V: $190k LTV: 60% Description: No major repairs needed, only clean-up and rent out, 1600 sqft, large 3bd/1bth, carport, pics available on request. HARD MONEY ONLY(CT) 2. Miami, FL Asking: $255k FRMV: $350k LTV: 72% Description: 4plex (one 4bd/3bth and 3 efficiencies), completely vacant, needs no work, approx. $3200 gross income. 12% cap rate. Call for more info. (FED) 3. FT. Lauderdale, FL Asking: $320k Appraised Value: $45ok LTV: 71% Description: 5-plex Multifam. Four 2/1's + one 1/1, 3881 sqft in total, 12,650 sqft lot. 4. Pompano Bch, FL Asking: $145k FRMV: $300k LTV:48% Description: 3bd/2bth, 2,000 sqft, $30k in repairs. (FED) 5. Ft. Lauderdale, FL Asking: $50k FRMV: $100k LTV: 50% Description: Perfect condition, easy to rent, 1bd/1bth (FED)

Maybe we should change your screen name to Gigolo46?! No, no amigo not so fast. Maybe when I earn my first $100 bucks, perhaps. Meanwhile I am fine at megabucks41. But thanks for the thought.

Thank very much Amigo, I am just geten up from the party that started on a Monday night. I spent my whole day yesterday with a way younger cuite pie and I do mean young I got carded eveywhere we went if fortysixish is like this I here fifty are even better so I can't wait. Thanks again amigo.

Hey Rex are your ads by owner ads or agent ads, there a few agent on cargslist that will flag your ad if you are not an agent. This agent usually advertise as if they were by owners and they don't like the comptetion of other owners

Rex, how are you finding the short sale business these days? I ask because with the market the way it is, I'm tempted to try my hand at it. But previous experience years ago left me with a sour taste in my mouth for short sales and all the accompanying BS when dealing with banks and bureauacracies. I'm wondering if the current crunch has made lenders a bit wiser and humbler. My son erik is doing short sales but we are finding that banks are not letting go properties for the same low prices that they were about 8 months ago

BULK STEALS 1b.South Miami, FL Asking: $450k per home FRMV: upto $800k LTV: 56% Description: 22 Newly built Homes in South Miami. Pics, inventory available and brochures available. 3/2's -4/2's w/ gar. Developer has other homes around South Florida for sale as well. 2b. Coral Springs, FL (Broward County) Asking: $5.3M+ FRMV: $8.9M+ LTV: 60% Description: Newly converted condos in awesome Coral Springs (one of the top earning areas in florida). Developer in trouble and needs to unload FAST!! Will entertain a solid offer under 60% (perhaps somewhere between 50-55%) 3b. Tampa, FL FRMV: $180k-$200k Asking Price: 60% of the FRMV LTV: 60% Description: 40% SELLER CONCESSIONS W/ BULK PURHASES OF 10 OR MORE!!..Newly Converted condo units already rented in Tampa, FL. Appraisals, Inventory lists and summary in hand. 44 units available (40 rented 4 vacant) buyer pays 1.75% developer fee at closing. 4b. Dadeland, FL (South Miami) FRMV: $300k-$600k Asking Price: 60% of the FRMV LTV: 60% Description: 40% SELLER CONCESSIONS W/ A BULK PURCHASE OF 10 OR MORE UNITS!! Newly built Townhomes and Condos in the middle of a retail paradise (Dadeland mall). 25 units available Developer says must sell NOW!! 5b. Pompano Beach, FL Asking: $16.4M + FRMV: $25.3M + LTV: 60%-65% Description: Newly renovated 151 units, 63 leased, Lake Views, pool and spa, fitness center, Developer is EXTREMELY NEGOTIABLE!! Same scenario. SA 6b. Homestead, FL (Miami) Asking: $148k-$162k ea (reflects discount) FRMV: $260k-$285k LTV: 57% Description: Newly built Townhomes in South Dade, 17 in total, Developer looking for offers and is highly negotiable. Developer is and can be made available for a conference call for a serious buyer. AR 7b. Homestead, FL (Miami) Asking: $24.6M FRMV: $41M+ LTV: 58% Description: Newly built Town homes, Appraisal available. 2 different neighborhoods, 2 different models (regular models), 1 development 350 units total between numbers 7b and 8b. AR 8b. Homestead, FL Asking: $32.5M+ FRMV: $56.1M+ LTV: 58% Description: Newly built townhomes (the executive models), different model, different neighborhoods, same development 350 units total. Call/email for more info. AR 7b. Winter Garden, FL Asking: $1.750M FRMV: $2.9M-$3.1M LTV: 60% Description: 4 Newly built (completed in 2007) mini mansions on the lake in a new development. Appraisals for each home done in December 2007 for the bank and in bank's possession. Appraiser's contact info in hand and can re-appraiser property upon request. Call for more info. AR 1R. Property Type: Condos, Single Family, townhomes etc. Price Range: upto $1M per unit LTV: 55% and under of FULL APPRAISED VALUE!! Locations: Anywhere in Florida Description: Must have brochures, appraisals/recent comps, rent rolls pr proforma (if applicable) IN HAND!! BUYER DIRECT!!! SEND ME YOUR PRODUCT!!! 2R. Property Type: Single Family homes Price Range: $500k - $600k LTV: 65% and below Locations: Davie, Miramar, Miami Shores and Plantation, FL Description: Little to no work, preferably new. Buyer direct, looking to purchase 6 or more this month, Seller concessions preferred but not required. 3R. Property Type: townhomes, single family, condos (builder closeouts) Price Range: $10M - $100M Max LTV: 50% and below (fees included) Locations: Anywhere in Florida Description: Must have brochures (pics), appraisals/recent comps, rent rolls or promforma (if available) IN HAND! Cash buyer, quick closing (2-3 weeks). Buyer will accept vacant developments

Happy BBBBBBday Jeannie may all your wishes be granted.

all follow naked investors are welcome to join me on a live radio show come share your views. the topic being (THIS REAL ESTATE MARKET OOOOOOH IT'S SO BAD) or is it really that bad? Show starts at 1:30 pm Sat. Jan 26 2008 this is our first show with many more to come. And of course I will be asking a few of you to be my guest speaker on different subjects that I will cover. Just go to blogtalkradio.com/ernest for the show and if you would like to stop by and say hi then call in number is 347-205-9466 see you on the air.

was just think about the leads that I have from doing CA and short sales everytime we market for one property the amount of leads that come out of those ads. sometimes can be 25 to 40 per property only one person is going to buy or rent to own, what about the others. Sure we can try to find another deal in the same area that out property was in, this way we can send everyone else to our new property. Now my question is has anyone tried to sell those leads to a Realtor or a mortgage broker? And if you did more or less what was a fair market price on the leads.

I have a few more in other cities as well in Cailf. Date: December 28th, 2007 RE: Portfolio of 95 Single Family Homes Described as: 11 Homes in Los Banos, CA 8 Homes in Livingston, CA 8 Homes in Patterson, CA 68 Homes in Merced, CA With a Total Value of $38,669,645.00

I have over 350 homes in west Fl. These deals will not last contact me for prices most of them are rented can you hear the money.

I went to this other site looking for properties, FSBO and ran into some of the same properties I had already contacted last year around the month of July and like you said prices were way down. I happen to even run into a friend of mine that was selling a fixer upper in the North Miami area last year he was trying to get about $350K, I explain to him that he was going to sit on that house for a while he might consider doing a CA. He told me no because he had to much money into the house and he just wanted to sell it, Last night I see he has the same house going for $270K and that this price it a good deal in this area but this house will not even sell for this. I have been away from needing to know appreciation rates due to working in other areas of real estate investing, so I have no clue as to what our areas are doing. Once I get back in the CA/PO game, I'll see if I can put some deals on the table this way I am working three methods of real estate instead of just two. My next method to try is going to be fix and flip not rehab that to much of a headache. Get some great deals from my wholesale investors. Oh well I'll touch basis soon.

How's it going folks, MC, are prices in the city of Ft. Laud. going down? Miami prices are still a bit high. I was checking Craig's List and to my surprise the prices I was looking at were no different then last year! A bit out of this world. Well that's life, right?

MC. what else is new amigo this is the scam capital of the USA.

22 T-home units in Fl. Ft. Myers G-communitiy, swimming pools, billiards, fitness centers, tennis courts, lake view. properties are worth $6mill seller is getting rid of them for $3.4 plus 4points fees contact me at ernie5662@yahoo.com