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It’s WAAAAY too quiet here!

Home Forums General EHTrust/EHT Topics and Creative Real Estate Financing It’s WAAAAY too quiet here!

This topic contains 35 replies, has 0 voices, and was last updated by Avatar of corkhorner_2 corkhorner_2 10 years, 6 months ago.

Viewing 15 posts - 16 through 30 (of 37 total)
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  • #29215
    Avatar of scott
    scott
    Member

    @homesavers wrote:

    Somebody needs some money somewhere. Unless I missed something along the way. How are we going to make money without money? We are not the Federal Reserve.

    You did miss it.
    Free real estate means :arrow: FREE FOR YOU

    #29216
    Avatar of scott
    scott
    Member

    @scott wrote:

    You did miss it.
    Free real estate means :arrow: FREE FOR YOU

    You get it free because the other parties save money and cover all the costs

    #29217
    Avatar of corkhorner_2
    corkhorner_2
    Member

    Leon, in SoCal, high desert is an area from palmdale to adelanto, to ridgecrest to victorville, hesperia, apple valley, to barstow. Like that.

    Short term funding is generally points and high interest –’short term flipping’.

    Longer term private funding would fall 10% or less for medium term for an rb or other lease purchase occupant.

    Did i answer your questions?

    There is a lot of Big Money chasing bulk notes and reo’s. LOTS.

    Most want discount levels that the banks/lenders are not accepting cuz they are waiting for more from the feds.

    If/when you get a package and it has a lot of junk in them, I am very experienced in turnaround projects, managing at a distance and particularly adept in SoCal. That means let me at them.

    c h

    #29218
    Avatar of bill_gatten
    bill_gatten
    Participant

    @scott wrote:

    @homesavers wrote:
    Somebody needs some money somewhere. Unless I missed something along the way. How are we going to make money without money? We are not the Federal Reserve.

    You did miss it.
    Free real estate means :arrow: FREE FOR YOU

    Yeah! Right on Scott! Say, I give you a limousine with $500 per-month payments, and I have my next door neighbor drive you around in it and pay the payments for you, how much did your limo cost you?

    Just remember nuthin’ ain’t worth nuthin’ ‘less it’s free (OK I took some liberty with the quote…sorry Kris).

    #29219
    Avatar of bolieunj
    bolieunj
    Member

    Cork,

    I’ll let you at them if you find em for me. Fair enough?

    :D

    Leon

    #29220
    Avatar of homesavers
    NULL
    Member

    @bill_gatten wrote:

    @scott wrote:
    @homesavers wrote:
    Somebody needs some money somewhere. Unless I missed something along the way. How are we going to make money without money? We are not the Federal Reserve.

    You did miss it.
    Free real estate means :arrow: FREE FOR YOU

    Yeah! Right on Scott! Say, I give you a limousine with $500 per-month payments, and I have my next door neighbor drive you around in it and pay the payments for you, how much did your limo cost you?

    Just remember nuthin’ ain’t worth nuthin’ ‘less it’s free (OK I took some liberty with the quote…sorry Kris).

    Bill you mastermind! I have to get better at selling. I need to be one heck of a handshaker. I got to get these people together more often. I like FREE helps with FREEdom.

    #29221
    Avatar of mtnwizard49
    mtnwizard49
    Member

    I was able to capture a shot of Cork’s probate clients in his backyard:

    #29222
    Avatar of corkhorner_2
    corkhorner_2
    Member

    Dr Wizster, the world will be forever grateful to you.
    Pehaps you can get the spam moderator to erase this.

    cork horner

    #29223
    Avatar of homesavers
    NULL
    Member

    @CorkHorner wrote:

    Do I have the cash to fund these? As to not be evasive,
    NO, I don’t. Do I have operating capital and human capital?
    Yes, I do. It’s operating capital and particularly human capital that drives the boat.

    What is the difference between “operating capital” and CASH? Expand on “Money finds the good deals” We are operating at a disadvantage since we work in an esoteric realm.

    You can have several properties in your own inventory but are the buyers going to like them? What do you do to get the buyers to find them? A buyer with CASH is king right now. We have a mass of motivated sellers out there. Let’s transact some deals.

    #29224
    Avatar of corkhorner_2
    corkhorner_2
    Member

    Ahhhhhh, Mr ‘HomeSavers’…ya done drove the nail home. Is that name now archaic? why ask about buyers if you are a homesaver? Just a curiosity on my part.

    As to question: is Operating Capital ‘CASH’ well yes. So is Credit . The difference is in the application. when one runs out of operating capital they must in most cases operate from addresses in ditches, parks, parked cars and under bridges. I’m sure wizster can expand on that one. In jepardy the question is how to you buy stocks, bonds and real estate : Investment Capital.

    It is no huge secret as to what drives the res market in a Buyers Market, Yes? whoever has THAT formula has 2 maseratis, 8 caddies, a puegot and a Harley for economy.

    In San Diego, some of the pocket neighborhoods are being SNAPPED up by first time buyers in BIDDING WARS. where are they getting the money? Perhaps we might find out? Maybe Wizzo can arrange some funding from my backyard neighbors. Mr wizster, ya in?

    Obamma in his town hall 100 day meeting openly referred to borrowing the money from China to finance ‘our problems’.

    Now then Homesaver, whoever determines/gets/finds/creates the system or procedures to find WHO is going to make the payments [aka a buyers market] can then buy the Toyota of their dreams.

    where are these buyers? Shopping/surfing the internet. where they decide their next step.

    So, my quest right now is launching a new domain with chosen partners with info for sellers and BUYERS . This website will have sufficient info and content to motivate readers [buyers] to enter their interests in capture pages. Know any potential partners for this mission?

    In my view, its not enough to just have lists of 100′s of rb’s with one months rent in their pocket. The challenge requires transaction engineering of the n’th order.

    Mebbe—-the latest NARS interim frinancing will provide some of the pieces of the puzzle.?

    How we doin, Homesaver?

    My current ‘inventory’ ranges from a 2.2 Mil luxury home in LaJolla on sale for $1.7M, to High Desert homes appraised NOW for 90k and biought at auction for 57.5k, being funded by Hard money to an upside down condo in Mission Valley. This inventory is useless until we find/create buyers.

    Yes? No? Maybe?

    cork horner

    #29225
    Avatar of homesavers
    NULL
    Member

    @CorkHorner wrote:

    Ahhhhhh, Mr ‘HomeSavers’…ya done drove the nail home. Is that name now archaic? why ask about buyers if you are a homesaver? Just a curiosity on my part.

    Homesavers was started over 5 years ago to bailout homeowners in foreclosure. I do not do that anymore. Got burned twice and that was enough.

    As to question: is Operating Capital ‘CASH’ well yes. So is Credit . The difference is in the application. when one runs out of operating capital they must in most cases operate from addresses in ditches, parks, parked cars and under bridges. I’m sure wizster can expand on that one. In jepardy the question is how to you buy stocks, bonds and real estate : Investment Capital.

    It is no huge secret as to what drives the res market in a Buyers Market, Yes? whoever has THAT formula has 2 maseratis, 8 caddies, a puegot and a Harley for economy.

    In San Diego, some of the pocket neighborhoods are being SNAPPED up by first time buyers in BIDDING WARS. where are they getting the money? Perhaps we might find out? Maybe Wizzo can arrange some funding from my backyard neighbors. Mr wizster, ya in?
    FHA

    Obamma in his town hall 100 day meeting openly referred to borrowing the money from China to finance ‘our problems’.

    Now then Homesaver, whoever determines/gets/finds/creates the system or procedures to find WHO is going to make the payments [aka a buyers market] can then buy the Toyota of their dreams.

    where are these buyers? Shopping/surfing the internet. where they decide their next step.

    So, my quest right now is launching a new domain with chosen partners with info for sellers and BUYERS . This website will have sufficient info and content to motivate readers [buyers] to enter their interests in capture pages. Know any potential partners for this mission?

    In my view, its not enough to just have lists of 100′s of rb’s with one months rent in their pocket. The challenge requires transaction engineering of the n’th order.

    Mebbe—-the latest NARS interim frinancing will provide some of the pieces of the puzzle.?

    How we doin, Homesaver?

    My current ‘inventory’ ranges from a 2.2 Mil luxury home in LaJolla on sale for $1.7M, to High Desert homes appraised NOW for 90k and biought at auction for 57.5k, being funded by Hard money to an upside down condo in Mission Valley. This inventory is useless until we find/create buyers.

    Yes? No? Maybe?

    cork horner

    How do you create buyers? I think most are buying wholesale level from the banks (REO) but there are buyers here and there I do not know how to find them. (I say this as I drive away in my Maserati.) Boy that is a contradiction huh?

    #29226
    Avatar of mtnwizard49
    mtnwizard49
    Member

    You DON’T create Buyers. The lenders have done that for you. Advertise for people who have been displaced by foreclosure. You’re their only hope for home ownership benefits for the next several years.

    #29227
    Avatar of corkhorner_2
    corkhorner_2
    Member

    Homesaver: if that is not your ‘modus operandi’, why use it?
    Yes, some buyers are buying fha. here are lots of cash buyers too, especially the reo’s.
    Mr wiz, there is more than just a market of disposessed homeowners.
    There is a huge market of first time QUALIFIED buyers….including fha and va.

    Here is the schtick: you/we gotta have capture pages on the internet for not just foreclosed on sellers who are rb’s, but especially to market to first time buyers who are credit/income qualified, AND to investors who have more cash than god from the phunny-munny fiasco. Don’t expect them to tell you where they got it because there exists something called loan fraud.

    Funny thing, the brokers/lenders/agents/buyers who drove that economic bubble don’t seem to want to volunteer spending ‘time away from home’ in what I call the vertical sunlight hotel.

    So yes, fha. but a lot more.

    Perhaps, ‘HomeSaver’ you will bless us with photos of YOU in the Maserati.
    I must say, I have reservations about ever seeing it?

    Now then, if ya want a ride in my 89 Cad Land Yacht, where ya wanna be picked up? Then; we’ll go pick up wizzo holed up in the Red Rocks. I will bring along some of my back yard neighbors he found. They are Horse S… conversationalists, doncha know. But, I suspect Mountain wiz can get em to talk with a little hemp. Sorry, I let the dog out of the bag.

    keep Em Coming,

    c h

    #29228
    Avatar of mtnwizard49
    mtnwizard49
    Member

    Qualified buyers don’t need us. Those who have lost their future are the ones that are hurting the most. They are also the ones that would jump at long-term deals as long as they have home ownership benefits, which are necessary in this current environment. Just my way of looking at it.

    #29229
    Avatar of homesavers
    NULL
    Member

    Buyers qualified or non-qualified they are all looking for a place to live. I have spoken to people that are ready to lose their house because the loan is no longer affordable. They have saved a few bucks by not paying their mortgage so they are looking for another place to live. Where do they go? Grandma’s house? They are renting for the most part. The gross monthly rent is lower than a typical mortgage payment. They don’t care about the tax benefits. So they go for cash flow. If you can rent for 1300 and buy for 1900 what are you going to do? Go for the 1300 since you do not know what do to right now. The are still looking for a bargain. They do not care that they have a 400 FICO.
    I am not talking out of theory because I have heard this from the homeowners that I have spoken with.
    So in theory you are correct we should be able to shift displaced people into another home but in practice I have not seen it work yet.
    Why the heck aren’t there more lease options out there? That is what I want to know. If there are more lease options we could turn those into deals for a long term EHT which is not working in my market.

    We need qualified buyers right now. People that can get a loan. Why because we can possibly sell them a short sale unless they want to wait and get an REO even cheaper. We can use the EHT short term to protect the title and profit distribution. Are you doing long term holds right now? If so where and what are the numbers?

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