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How could anyone vote for a woman that stays with a man that cheats on her (3 times we know of), lies under oath, and has a hard time defining the word "IS". If you can't have the ability to stand up and leave that man, how can you stand up to foreign leaders, members of congress, etc. Not to mention, does anyone remember that wonderfully shady investment deal she did in Whitewater, AR? Just a few thoughts.... I personally think that Clinton and Obama will never team up together, they will split votes, and a more moderate democrat will win the nomination.

Just curious, what is your website?

Actually TOM, I know there are some investors out there that will be a 2nd position seller financed note. I do not, but those that do, buy them at such a steep discount it doesn't make sense to sell it really. When I sell properties I love to use seller financing when selling. Opens up the potential pool of buyers. The 2nd position note is great for a little passive income. I get monthly payments each month, and eventually get my principal back when they sell or refinance the home. So I get more from the home. I had the pleasure of learning some of these strategies from the Seller Finance Guru - Eddie Speed. He will be in Chicago speaking on this topic on Sunday June 17th actually.. http://www.wcrt.org

Mike, No problem on the book. Plenty of free copies left. As a matter of fact, the Author, Eddie Speed, is coming to my home town of Chicago on June 17th. He will be talking about how to utilize seller financing for investors, from the buy side, to sell side as well as making money brokering, buying or selling notes. His bio can be found here http://www.wcrt.org/?Link=wealth

Right a note broker can only give quotes on what the value of the note will be once created. You can give all sorts of resource son where to find the correct documents, etc. But a broker can only buy a note that is only created. If the note buyer/broker creates the note, then essentially they are being a lender and can get fishy. So you can provide the seller with all types of forms, documents, etc. Ever notice how the buyer provides the contracts? Why not the seller finance forms. You are making the offer, right? If you want to know all there is to know about utilizing seller financing as a great tool in investing, come check out Eddie Speed in Chicago on June 17th. His bio can be found here http://www.wcrt.org/?Link=wealth

Fillipo, Hey fellow Chicagoan! Where in Chicago are you at? We might have deals we can do together or help each other out. I look forward to talking to you some more about your real estate investing and the direction you are looking to head in.

I have used a service called GotVMail for the last few months. I am quite pleased so far and it is really inexpensive at just 9.95/month. http://gotvmail.com/land.php?sp=25288&img=3&kbid=1081 Hope that helps!

Greek MASTERCARD WEDDING You gotta love this guy! This is a true story about a recent Greek wedding that took place in Astoria, NY. It was in the local newspaper and even Jay Leno mentioned it. It was a large wedding with about 600 guests... At the reception after the wedding, the groom got up on stage with a microphone to talk to the crowd. He said he wanted to thank everyone for coming, many from Greece, to support them at their wedding. He especially wanted to thank the bride's and his family and to thank his new father-in-law for providing such a lavish reception. As a token of his deep appreciation he said he wanted to give everyone a special gift just from him. So taped to the bottom of everyone's chair, including the wedding party, was an envelope. He said this was his gift to everyone, and asked them to open their envelope. Inside each manila envelope was an 8x10 glossy of his new bride having sex with the best man. The groom had gotten suspicious of them weeks earlier and had hired a private detective to tail them. After just standing there, just watching the guests' reaction for a couple of minutes, he turned to the dumbfounded crowd and said, "I'm outta here. You people could stay here and celebrate with that PUTANA." He had the marriage annulled first thing in the morning. While most people would have canceled the wedding immediately after finding out about the affair, this guy goes through with the charade, as if nothing were wrong. His revenge: Making the bride's parents pay over $92,000 for a 600 guest wedding and reception, and best of all, trashing the bride's and best man's reputations in front of 600 friends and family members. This guy has balls the size of church bells. Do you think we might get a MasterCard "priceless" Commercial out of this? Let's give it a try... ---Elegant wedding reception for 600 family members and friends.........$92,000. ---Wedding photographs commemorating the occasion.....$4,000. ---Deluxe two week honeymoon accommodations on Mykonos Island....$8,500. ---The look on everyone's face when they see the 8x10 glossy of the bride and the best man having sex..........Priceless! There are some things money can't buy, for everything else there's MASTERCARD.

I would like to address a prevalent myth. Hard money does not necessarily imply that the loan is based solely on the equity of the property in question. This is a very common misunderstanding. Many years ago, private lenders (hard money lenders), used the actual property as its own collateral. If the borrower paid them back, that was great, but if there was ever a default situation, that would be fine too. The lender always loaned far less on the property than the fair market value, so in the long run, a lender stood to make an even greater profit by foreclosing on the property and selling it. So I’m sure that many of you would ask, how is that any different than today? After all, no hard money lender will lend more than 65%-70% of the after repair value on a property, and the high fees and interest rate should more than compensate them for any inconveniences. So what’s the problem? Why is it so hard to find private lenders who don’t ask for credit information? Why won’t they all do “no doc” loans? Where are the real hard money lenders? Well investors, here’s something that you have not considered. Years ago, most states were non-judicial states, meaning that the foreclosure process was simple, fast, inexpensive, and didn’t involve an involved court fight. The burden of proof, in many cases, was on the defaulter. Under these laws, it made sense for the lender to bypass the credit and pay history of the borrower. Either way, their investment was sound. So what happened? Consumer protection laws, and other factors have slowly changed most states into judicial states. Now the burden of proof for the foreclosure process has changed. And to further complicate things, suppose the borrower (real estate investor) rented out the property. With squatter’s laws as they are today, the lender would really be screwed. In these instances, the lender has to go through an expensive and time consuming court procedure. Even though, in the end, the lender will get the house, the expense and effort has killed the investment, and if this happened a lot, it would drive them out of business. And in many cases, this is what happened over the years to most of the equity only based hard money lenders. This is why most of the hard money lenders now will check credit scores, and in most instances, ask for further documentation such as tax returns, bank statements, etc. I find that most private lenders, are much easier to deal with, much more streamlined, and have far less red tape to deal with than a bank or lending institution. The only difference from those “good old days” is that today we are more careful about dealing with just anyone. Speaking for myself, when I work with a real estate investor, I want the legal option to foreclose, but I want to know that the history of the borrower indicates that this is highly unlikely.

All, In coordination with some partners, we have developed a terrific e-book that tells you the ins/outs of all facets when it comes to taking back financing on a property you own. The book is in PDF format and comes with several forms you will need along the way. To get the e-book for FREE for users of this forum go to http://www.streetwisesellerfinancing.com/ Click on Have Access Code Enter 2070 Enjoy the reading!!! Here is a sample of the first page of the table of contents: Table of Contents Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Part i: Homework Before the Sale . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Should I Owner-Finance? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 The Application . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Employment Section . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Rental History . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Reference Verification . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Balance Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Credit Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Understanding the Credit Score . . . . . . . . . . . . . 10 Public Record Information . . . . . . . . . . . . . . . . . 12 Trades Information . . . . . . . . . . . . . . . . . . . . . . . 12 Sources of Public Records . . . . . . . . . . . . . . . . . . . . . . . 13 Common Sense Underwriting . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Underwriting Food for Thought . . . . . . . . . . . . . . . . . . . 13 Calculating Ability to Pay . . . . . . . . . . . . . . . . . . . . . . . . 15 The 5 C’s of Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Part ii: Structuring the Sale . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 The Credit Score and Loan to Value . . . . . . . . . . . . . . . 19 The Property Type and Loan to Value . . . . . . . . . . . . . . 20 A Word About Interest Rates – . . . . . . . . . . . . . . . . . . . . 20 What is the “Right” Structure for my Note? . . . . . . . . . . 21 Why Loan to Value is Important . . . . . . . . . . . . . . . . . . 22 Legal Requirements for Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Real Estate Settlement Practices Act (RESPA) . . . . . . . 23 Truth in Lending Act (TILA) . . . . . . . . . . . . . . . . . . . . . 24 Equal Opportunity Credit Act . . . . . . . . . . . . . . . . . . . . . 26 Home Mortgage Disclosure Act . . . . . . . . . . . . . . . . . . . 29 Gramm-Leach-Bliley Act . . . . . . . . . . . . . . . . . . . . . . . . 29 Fair Credit Reporting Act . . . . . . . . . . . . . . . . . . . . . . . . 30 State Laws . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 Texas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 Other states . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 A Word on Late Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 http://www.streetwisesellerfinancing.com Access Code: 2070 _____________________________

All, In coordination with some partners, we have developed a terrific e-book that tells you the ins/outs of all facets when it comes to taking back financing on a property you own. The book is in PDF format and comes with several forms you will need along the way. To get the e-book for FREE for users of this forum go to http://www.streetwisesellerfinancing.com/ Click on Have Access Code Enter 2070 Enjoy the reading!!! Here is a sample of the first page of the table of contents: Table of Contents Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Part i: Homework Before the Sale . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Should I Owner-Finance? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 The Application . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Employment Section . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Rental History . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Reference Verification . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Balance Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Credit Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Understanding the Credit Score . . . . . . . . . . . . . 10 Public Record Information . . . . . . . . . . . . . . . . . 12 Trades Information . . . . . . . . . . . . . . . . . . . . . . . 12 Sources of Public Records . . . . . . . . . . . . . . . . . . . . . . . 13 Common Sense Underwriting . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Underwriting Food for Thought . . . . . . . . . . . . . . . . . . . 13 Calculating Ability to Pay . . . . . . . . . . . . . . . . . . . . . . . . 15 The 5 C’s of Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Part ii: Structuring the Sale . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 The Credit Score and Loan to Value . . . . . . . . . . . . . . . 19 The Property Type and Loan to Value . . . . . . . . . . . . . . 20 A Word About Interest Rates – . . . . . . . . . . . . . . . . . . . . 20 What is the “Right” Structure for my Note? . . . . . . . . . . 21 Why Loan to Value is Important . . . . . . . . . . . . . . . . . . 22 Legal Requirements for Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Real Estate Settlement Practices Act (RESPA) . . . . . . . 23 Truth in Lending Act (TILA) . . . . . . . . . . . . . . . . . . . . . 24 Equal Opportunity Credit Act . . . . . . . . . . . . . . . . . . . . . 26 Home Mortgage Disclosure Act . . . . . . . . . . . . . . . . . . . 29 Gramm-Leach-Bliley Act . . . . . . . . . . . . . . . . . . . . . . . . 29 Fair Credit Reporting Act . . . . . . . . . . . . . . . . . . . . . . . . 30 State Laws . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 Texas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 Other states . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 A Word on Late Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 http://www.streetwisesellerfinancing.com Access Code: 2070 _____________________________

Shane, With good credit you can easily get a traditional loan for your first home purchase. There are several great programs that can do 95% LTV or up to 100% on some properties. They all give breaks for first time home buyers. If you want to look into that, drop me a line and we talk.

I think you need to go to your local REI club meeting and find out how the successful people are doing/getting their deals. I have found the best way is through referrals. Think about the type of people that would come into contact on a regular basis with people that would be in a situation to be a motivated seller. Then go talk to those people. Divorce Attorneys Probate attorneys Title Company workers CPAs etc etc In all honesty judging by your negative attitude, I can see why you aren't getting any deals.

Andrew, About point 3, back in my IT days, I had several non-circumvent/ non-compete clauses in contracts when I used sub-contractors, and EVERY single one was held up on court that was challenged, and fees had to be paid. Just like you get all your contracts signed to protect yourself when buying/selling a property a broker needs to get forms signed to protect their interests. If a person brings you financing and gets you a great deal, why would you want to go around them after they have helped you to begin with? I am not saying that most Non-circumvents are correctly written. I have seen some horrible contracts being moved around that would be laughed at by anyone with any legal knowledge. Just wanted to say to you not to advertise they do not hold up in court. ---- As you know I also can get creative with Commercial Financing but it near impossible to get 100% financing let alone get someone to cover closing costs, appraisals, etc. If you want to get a property with none of your own money, I suggest starting in the residential market. Once you have built up some, then move into the commercial arena. Either that or partner with someone that will put up the money to cover the down payments.

Andrew, Selling a note at closing is called Temporary Seller Financing. It is done on a daily basis. We do several a year actually. I don't want to send you off on a wild goose chase, but I do have a page on this that I have targeted to Real Estate Agents and Brokers. http://www.4rmanagement.com/agents_brokers.asp Hope that helps!