Newbie from San Diego,CA 6 posts by 4 users

Posted: 09/09/2008 at 10:41PM

Alittle about me:

20 YEARS EXPERIENCE
Places I worked: Lincoln Mutual Mortage Corporation , New World Mortgage, Residential Lending,Genisys Financial, Northport Lending & Aztec Funding
Knowledge and Experience in : CONVENTIONAL AND NON-CONVENTIONAL LOANS. PURCHASE OR REFINANCE.COMMERCIAL LOANS, CONSTRUCTION LOANS, REHAB LOANS, HARD MONEY LOAN, FORECLOSURE BAIL OUT LOANS, BRIDGE LOAN,INVESTMENT PROPERTIES SUCH AS APARTMENTS , MOBILE HOME PARKS, MALLS, ETC…A LITTLE ON THE CONCEPT OF REVERSE MORTGAGES, VA, FHA, CAL HFA ,SILENT SECONDS.ALSO BG, MTN,SBLC , ETC...

BANKS: UNIVERSAL SAVING BANK, FIFTH THIRD, CONCORD PAYMENT SYSTEM, CONCORD EFS
Responsible for maintaining existing customer database and building new relationship. Provides sales, marketing, customer service and tech support for business on merchant credit card processing systems and software.

FOREIGN CURRENCY BROKER
CURRENCY TRADING INTERNATIONAL, SAN DIEGO, CALIFORNIA
DEAL STRICTLY WITH FOREIGN CURRENCY TRADING OPTION. POSSES SERIES 15 & 63 BROKERAGE LICENSE. Registered in OH., CO., GA., CA.

ASSOCIATE
W0RLD MARKETING,SAN DIEGO, CALIFORNIA
4 YEARS OF INTERNSHIP; LEARNING FINANCIAL CONCEPTS, INVESTMENT PRINCIPLES, AND NEGOTIATING STRATEGIES.

VEHICLE SALESPERSON
TOYOTA, DODGE, CHRYSLER, LINCOLN, SAN DIEGO, CALIFORNIA
10 years
HUMAN RELATIONS; CONTACTING, PERSUADING, FINANCING, AND BUDGETING.

SKILLS:
CALYX POINT, OFFICE XP, OUTLOOK, EXCEL, POWER POINT, ACT DATABASE, GOLDMINE DATABASE,DATAQUICK,SANDICOR,MORTGAGE-X.COM, SALARY.COM,SCOTSMAN’S GUIDE, SITEXDATA, US REALNET, LENDERS LAB,BLOOMBERG, BANK RATE, FEDERAL RESERVE, ALL REGS, COPIER, FAX,ETC…

SALES , MARKETING, NETWORKING,FINANCIAL CONCEPTS, INVESTMENT PRINCIPLES, TIME MANAGEMENT, NEGOTIATING STRATEGY, CUSTOMER SERVICE,

Posted: 09/10/2008 at 08:40AM

The inverse purchase.Mosty seller financing,short sales or FSBO.

Posted: 09/10/2008 at 11:10AM

I just want to let everyone know that I am not with Jason Alexander or his Group. Have never taken his course. But I do know of him.

The Inverse purchase is this:
1) Locate a FSBO
2) Negotiate a deal with the seller, with 20 % or more discount
3) Sign contract including clauses that allow you to show the house. Also have seller sign investor's disclosure notice.
4) Show the house.
5) Find end buyer.
6) Qualify end buyer thru mortgage broker.
7) Get one under contract (the one most qualified to buy house) for full Appraised value
8.) Send seller an invoice that the seller signs agreeing to pay investor the diff between his purchase and the appraised value
9) Fax seller copy of investor's contract with end-buyer
10) End buyer and seller go to close.
11) Title company or closing agent sends you a check.

The doctrine of law knows as equitable conversion. http://www.answers.com/topic/equitable-conversion

The sales contract or agreement, lease or option, or rental of real estate by an unlicensed owner of real estate who owns any interest in the real estate if the interest being sold, leased, or rented is identical to the owner's legal interest" If a person signs a sales agreement then he/she has a type of equity ownership according to blacks law dictionary it is a form of doctoring that allows or grants a person the intended purchaser the right to hold a part of the realty in which you have bargained as a position in equity same as a realtor when they bargain or establish the commission structure however possession by true simple fee interest must be met by state conveyance laws the possession stops you from taking possession until a true passing of clear title occurs. The power of sale has been established on paper whereas you are now going to sell your equity for cash to someone. You have an established right of claim when all parties have signed your contract if this is the case then you have a legal contract your considered by your binding rights as an equity owner then you are backed by the state. Your a part owner but not owner in fact sense the majority of equity shares favor the sellers this is called fee simple ownership in many cases unless the property is owned outright with a clear title then ownership is considered a true owner of record. Then you have the right to sell market our investment property while you’re under contract.

In a nut shell:
I go to contract with a seller for X price disclosing that I am an investor and that I am in business of making a profit. I find the end buyer and contract with them for Y amount. I then see about getting him set up with a sub prime loan if possible thru a mortgage broker. Then I invoiced the original seller a fee for an amount up to the amount of the spread in order for me to Release him from the original contract so the seller and buyer can then go into contract for the purchase amount. No seasoning issue, because I never affected title.