Properties with Little, No, Or Negative Equity

Are you a home owner, and this describe your property? Maybe you’re a investor, especially a wholesaler. The lead comes in, and you do your due diligence but the numbers don’t work or the seller won’t bite on the numbers. In the trash it goes. But does it have to be trashed?

You worked so hard on it. If it won’t fit one particular niche, consider alternatives out there that could make that throw away lead into a deal! With how hard the real estate business is, why limit yourself and ignore all the opportunities out there?

Typically, you want to buy at the 65% formula, or at most 70% of the ARV. But if the numbers don’t work, you usually go to the next lead. Now, suppose there’s another way:  a lease option. But what if you don’t know about LOs?

Our team does. Associates have been working LOs for 20 years. We JV on the deals, splitting the profits, so instead of getting nothing, you can get something for all your hard work!

 

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Terms and Info

Are you new to the world of real estate investing? Maybe you’re experienced, but someone tosses a new term at you. Maybe you’re a homeowner, and hear a lot of jargon thrown around, that leaves your eyes feeling glazed over, or scratching your head.

This is a resource, with almost 800 different real estate terms, and what they mean. From 100% Mortgage or 125% loan to Zombie Foreclosures and Titles, this resource not only gives you the definitions, but also provides a “break down” of what the terms mean.

Buying or Selling

Our focus is on Lease Options, for buying or selling. We especially focus on properties that have little, no, or even negative equity. If you’re a homeowner, and can’t sell your home for this reason, consider us and a LO. If you’re a wholesaler, or other investor, and the numbers simply don’t work, a LO may give you a chance to make some money for your hard work and effort!

If, for some reason, you are having difficulties with the submission forms, you may always send inquiries through email on the contact page.

We’re always looking for wholesalers whose leads don’t go into the 70% ARV rule or better. A “bad deal” to a flipper, rehabber, or even a buy & hold can work with a lease option!

Financing

As you may have noticed, the tab about “you funding the deal” has been relabeled to “Finance Options,” with a sub-page on multiple funding options.

Currently, the main way for funding was with Self-directed IRAs, with the occasional Solo 401k. At this time, that is what we suggest. We may have referrals. Please inquire.

The other main area of options sub-section is for debt relief, both personal and business.

 

Progression

It’s been a while since my last update, and I’ve a lot to inform my peers about.

First, I attended my DVR workshop [after waiting a few months!]. It was an interesting series of classes, about building upon one’s strengths. Perhaps the biggest thing I got is that instead of putting out resumes, one puts out “strength sheets:” short, one-page documents, emphasizing strengths and skills–NOT the jobs one has held, because that puts people in boxes–those that can be transferable to any job one applies for.

Another big thing is that the prior weekend to this one, I attended an investor “mastermind” event. One of the biggest things from this, that I take with me, is the “commission saver program.” If you’ve ever been involved in a short sale, you know how “fun” they can be. However, from the agents’ perspective, it can be nerve-wrecking. If it falls through, the listing agent doesn’t get their commission, the buying agent has to go through the process again, to find their client another home, and they client doesn’t get the home they wanted. With my network, we buy the home, with our funds, at auction, and sell it to the original buyer, so everyone wins! We look for high-end houses in the +$500K range, for those who may not be wanting their short sale to fall 100% apart.

There were some disappointments with the event, and didn’t get anywhere near the 1-1 I’s hoping for, but it was ok, especially networking; even if just one, that’s a HUGE opportunity!

I’m also working with a guy who specializes in lease options. What I REALLY like about him is that he’s willing to mentor, with no upfront fees, whatsoever! Instead, we put deals together, and we JV! That’s outstanding, as no one else does that, ever! Been reviewing information, and tomorrow, we have our “sit down and plan things out call.”

Been busy, and making lots of plans, and going to make stuff happen!

Updates

Initially, we worked with a company that claimed association with a hedge fund and financial clearing house, for buy & holds, tapes, and fix & flips. However, after multiple deals falling through, 100K Investing has decided to part company, looking for better opportunities on the horizon.

100K Investing had also, briefly, worked with another whole saler, who, unfortunately, had end buyers who had bad reps from a number of other people we had attempted to work with, so even there, there was disappointments.

Not everything is sunny and rainbows, but that just means we keep working, and make things right for all we work with!

Have you come to sites, and hate the “spin,” where all you see is the good stuff? I’m not sure about you, and maybe it’s because I’m cynical, but I can’t help but wonder “What are they NOT telling me?” It makes me wonder what they’re hiding. There are “reputation management companies:” sites dedicated to things like “defaced-content removal.” So, if there’s something negative about a company, because they irked someone off, they can work to get it removed, so that others don’t know about it, or that’s the speculation.

I’m human, so when things don’t work out, like my “homes4heroes project,” I leave it.

Homes for Heroes!

Back on The 4th of July, 2014, we launched a “Homes for Heroes” crowd fund project.

This is a pilot program, and an experiment in a mix of public and private, that will not only provide mobile homes for homeless vets and their families, but others in need, and the community, at large.

Unfortunately, the project wasn’t as big a stir as we had hoped. There were a lot of difficulties, including getting over the “crowd fund scam,” many pushed, and the feeling that there is a “homes for heroes” site, and the name chosen was poor.

It’s re-dubbed it “homes4homeless,” as we make money from deals done, it will be used to close our deal on our first project.

Sadly, this project didn’t meet its goals, and for now, is on hold.