Home Forum Contact Create an Account Sign In Create a Trust

outline of a deal

This topic contains 53 replies, has 0 voices, and was last updated by Avatar of bigdaddy bigdaddy 14 years, 9 months ago.

Viewing 0 posts
  • Author
    Posts
  • #256
    Avatar of bigdaddy
    bigdaddy
    Member

    Here is an outline of a deal for anyone that wants to read it:
    Purchase offer to seller with sales price of $350k(market value of $550k)
    Investor to put $20k as a down payment and seller to carry $330k balance for 1 year with interest only payments at 4%.
    Seller deeds into simple trust with buyers corp. as trustee.

    #8320
    Avatar of sserio
    sserio
    Member

    [red]Great Job, Shawn![/red]

    Bill’s system literally DESTROYS other forms of creative real estate!!!!!

    NEWSFLASH
    [red][move]The NEHTrust wins by a knockout![/red][/move]

    [red][move]The NEHTrust is a Lollapalooza![/red][/move]

    #8321
    Avatar of bill_gatten
    bill_gatten
    Participant

    Sal,

    Appreicate your kind words, but…really…wouldn’t “Lollpalooza” be a noun and therefore require precedent modification by an indefinite article…like, say… “a”?

    #8322
    Avatar of peter@amakya
    peter@amakya
    Member

    Shot Shawn

    #8323
    Avatar of anonymous
    anonymous
    Member

    Shawn,

    #8324
    Avatar of bigdaddy
    bigdaddy
    Member

    Tom,
    In this case there is only an Investor right now.

    #8325
    Avatar of deb
    deb
    Member

    What strategies will the investor use to flip this property? Also, why are there no seasoning issues?
    Thanks,
    Deb

    #8326
    Avatar of bigdaddy
    bigdaddy
    Member

    Deb,
    Investor can retail or “wholesale” this property.

    #8327
    Avatar of deb
    deb
    Member

    Yes, I pretty much follow it. Do you do this f/t? I’m waiting for Scott’s e-book on working with lenders and realtors. I teach f/t now, but will get started over Easter Break.
    Thanks,
    Deb

    #8328
    Avatar of bigdaddy
    bigdaddy
    Member

    Yes Deb.. Full time in RE.. (training, title examining, investing, mentoring, educating). Just keep reading this board so you can make your available time payoff.

    #8329
    Avatar of creativerei
    creativerei
    Member

    Hi there Shawn,

    Your deal sounds great!

    #8330
    Avatar of simmmu
    simmmu
    Participant

    Why does the transfer of the property into the trust not constitute a change in the title and thus place the seasoning issue at the forefront…if it is an FHA (new loan the end buyer is getting), the new rules are pretty clear to me…it is a transfer.

    Jack

    #8331
    Avatar of jim_pasquini
    jim_pasquini
    Member

    Don’t kid yourself.

    #8332
    Avatar of jimmonty
    jimmonty
    Member

    Did they seller give 100% of the ben rights, I am not sure I see it said – or if he did then there is a problem or is it because he put it into a simple trust and not a land trust.

    #8333
    Avatar of bigdaddy
    bigdaddy
    Member

    All,
    I must clarify with Jim.

Viewing 0 posts

You must be logged in to reply to this topic.

Tagged with:
Posted in
Contact Form
Your Fullname:


Email Address:


Phone:


Best Time to Call:


Subject:


Your Message:


Security Code:

 

Can't read the above security code? Refresh



Warning: Unknown: 1 result set(s) not freed. Use mysql_free_result to free result sets which were requested using mysql_query() in Unknown on line 0