Jump to content


Photo

Need to assign agreement back to seller


  • Please log in to reply
48 replies to this topic

#46 Guest_Diver_*

Guest_Diver_*
  • Guests

Posted 06 January 2009 - 10:26 PM

Geovanni, Are you aware that Land Contract(CFD) Notes can be sold? Diver

#47 Geovanni Castro

Geovanni Castro

    Newbie

  • Members
  • Pip
  • 12 posts
  • Gender:Male
  • Location:New York, NY

Posted 07 January 2009 - 01:30 PM

Diver, I'm not really familiar with notes (or real estate in general) to be honest. That is why I'm asking these questions even though I read in a previous post that this is not a novice thread. Hope someone can help me here.



-Geovanni

#48 Jonathan RexfordFL

Jonathan RexfordFL

    Builder, Buyer, Seller, Auctioneer

  • Members
  • PipPipPipPipPip
  • 1,208 posts
  • Gender:Male

Posted 07 January 2009 - 02:21 PM

Back in the early 90's I brokered notes. Even until late 99 early 2000 before companies like Associates and Metropolitan went belly up or got gobbled. A note deal is really based on risk. We use to sell notes 85% LTV for PAR before large discounts started hitting. Brokering notes is a rough and tough business. Using it as a tool in the tool box is okay when dealing with real estate. For someone to buy a land contract or contract for deed it will need to be recorded and it can be sold. Just as title to a property is sold.

If you are looking at basics of flipping you need to identify your exit plan first and then use one of the tools. Options are wonderful for all types of purchases. I hope this helps.

Regards
Jonathan Rexford
772-321-2290

www.JonathanRexford.com


#49 MichaelC

MichaelC

    Makes a mean Lasagne!

  • Admin
  • PipPipPipPipPip
  • 11,211 posts

Posted 07 January 2009 - 02:49 PM

Geovanni, first, let me say welcome to The Naked Investor! There's loads of great info here, and just as many helpful members. So feel free to ask your questions. That's what we're here for.
That said, if you are as new and inexperienced as you say, the notes business is not the way you want to start in real estate. You will be much better off by concentrating on one area, one technique. You'll have to decide what that is, but my suggestion would be options and lease options. They are easy to understand and risk free. I don't know what your financial situation is, but they also don't require banks or financing. In fact, most of these type deals require but dollars out of your pocket to complete. Once you get your feet wet and gain some confidence and know how, you can move on to other areas of investing and expand your horizons. But the mistake you want to avoid coming off the starting line is to try and know everything before getting started. You'll end up doing nothing. We call that the Paralysis of Analysis. Don't outsmart yourself. If you're serious about real estate, find your area of interest, and take action.
  • JvM likes this




3 user(s) are reading this topic

0 members, 3 guests, 0 anonymous users