All Forum Posts by: Dalia D.

Hello James. You can also find Note buyers when you attend Note conferences. There is a 3 day conference coming up in Las Vegas the end of April - Paper Source.

@Alecia Bolton

Thanks Alecia. I guess you are right about prohibited transaction with solo 401Ks and SD Roth IRAS. Just wondering if there is a way to "partner" funding with me living in one unit. And yes, house if free and clear, so no due on sale...

Hello BP Friends.

Just over 2 years studying note/paper space and am manager of note business Northwest Note Works. 60 y/o Licensed RE Broker. Need capital to fund performing note acquisitions and to purchase a 4plex (live in 1) in a seller financed deal using my yet to be opened Solo 401k.  I think the Solo 401k can be Roth Characterized. I currently have SDIRA Roth account. Plan to seller finance 4plex every 3 yrs or so...

My questions are:

1. Does this make sense?

2. Is a Quitclaim Deed the best way to go with transferring title of current rental/residence to my LLC?

3. Live in Whatcom County, WA. Do you know of any experienced CPAs that are versed in IRAs or any experienced real estate/business Attorneys who are versed in seller finance documentation?

Thank you BP Tribe

@Chris Seveney

Hi Chris, looks like Robert and I reside in the same area (Puget Sound in WA). Do you have any recommendations for any real estate attorneys in WA that specialize in creatively/seller financed contracts?  Thank you. dalia d

Thank you @Dion DePaoli for your generosity and invite. I am looking forward to participating in the video call in an observer/learner capacity. I'll send over the info you requested. Enjoy today. dalia de Jesus, Sound Real Assets, LLC

@Joe Krug Sorry to hear about your misfortunes (missed fortunes) with RE crowdfunding. Thanks for sharing - I learned a great deal from the responses. I've been a non-accredited investor (cash vs Roth IRA investment) for almost 2 yrs now with Fundrise and everything seems okay for now, but of course, for me, this would be the case that "you don't know what you don't know"... Are any of your investments with Fundrise or have you gotten any feedback about Fundrise. Thank you

Thank you Ken and @Don Konipol. 

1. Thank you for the "under duress" caution with a first right of refusal.

3. So Don, my understanding is that an Option is a one way agreement in which the buyer has full control (to purchase) and is usually initiated to "buy time" - such as in the case of a feasibility study for commercial property. So with a note purchase, if buyer is in a situation where they need a couple of weeks to work a deal, is an Option a fair document to draw up if the seller agrees?

   and do you find that the earnest money for notes is similar to what is customary for the purchase of real estate property in a specific area (~.5% of listing price or starting at $1K-$2K)?  Thank you sharing.

Thank you BiggerPockets,

 Live in Bellingham WA and am a RE Broker aspiring to become a passive note investor for multiple income streams. I am learning to broker notes right now. Have a few questions regarding document prep on note transactions.

1. Would this be appropriate wording for a first right of refusal on a Deed of Trust seller-finance transaction?: "The trustor grants to the beneficiary (me - note holder) an irrevocable option to purchase the property, including all contents except for personal property (chattel), for the sum of ONE DOLLAR ($1.00) upon being offered for sale or upon the death of trustor (borrower's/buyer's name)"

2. Should the words "First Right of Refusal" be written in the Deed of Trust and in the Purchase and Sale Agreement?

OPTIONS:

3. When I find a note deal to purchase or broker how elaborate (details and expiration time) should the Option be to take care of the due diligence process? - Searching/marketing locally and with Self-Directed IRA and LLC money, so I am thinking that 30 day Option would be sufficient to research and negotiate price and terms.

4. How much consideration (money) should I offer as an option?

Thank you in advance. Suggestions are always welcome and appreciated. 

Hi Patrick. I think I understand what you are asking. You probably would want to sell your duplex using a creative owner carryback strategy with terms that are attractive to future note investors and to your buyer/borrower. Then after receiving 12 payments or so (a seasoned note), sell your attractive (partial) note to another investor. If your need to capitalize is more urgent, then of course a refinance strategy would make more sense 

Are you looking for TRULY passive income?! Or, maybe you (Land Baroness/Landlord) are in need of a loan for your next investment or rehab...   Well, I am looking for local deals and opportunities to lend a hand.  

1. If you are carrying a loan on a house you sold, I can buy the monthly payments from you so that you will have the cash for your next deal.

2.  If you just want to receive a superior return on your savings or idle retirement account, YOU can buy notes/mortgages on one transaction and get a substantial yield monthly - you can't get more passive than this...

I am also wanting to find good partners and to add you to my Note Buyers List.  Enjoy today.     Dalia D.360.602.1116

SOUND REAL ASSETS, LLC