All Forum Posts by: Jacques Herve

Just got my license yesterday, yup: Yesterday! 

I am a buy and hold investor but just the savings on restructuring my portfolio make it worthwhile. Plus, I learned a lot of stuff directly useful to my investing. And finally, it allows me to diversify my source of income as needed. That's a lot of stuff on the plus side. 

On the minus: it takes time and dedication to go back to school: I did it in VA which is petty selective. Most importantly, you have to be legally savvy as you can be sued since you're now presumed better informed in RE transactions.

The pluses outweigh the minuses in my view.

Idea is my customer buys the house then sells it with owner's financing, retaining the title till financing is paid off. So two deals.

Used to drive by your place on I81 visiting my (then) GF when she moved back to TX. She's still a friend but 1,200 miles or so is a long drive -even in my C6 Corvette.

@Heath Ryans

I'm in VA by the way, so your Northern neighbor. Admittedly a distant one as I'm in NoVa. (Where the money is lol)

@Heath Ryans

I'm actually planning to specialize in those deals as a realtor. Have my customers flip properties and hold the note. And the title, so legal expertise is of the essence.

@Heath Ryans

Reason I'm asking is I'm thinking of marketing land contracts as an investment product -with proper legal help-. Is there a market for that in your view?

@Heath Ryans Cool. Sounds like a great deal. How did you convince seller to finance it? He's lending at prime for 10 years but released the title so what's his guarantee? Regular mortgage? Some other lien?

1) Buy a live-in ready house -no renovation headaches- for cash, 

2) flip it around with owner's financing (land contract). That allows you to a mark up on the price and above market rate on the loan to reflect access to non bank lending.

You retain legal title to the house till loan is repaid (you can evict buyer if default).

You made a profit on the sale AND invested your cash at above market rate with good risk control (Legal title to the house).

You read it here first lol! 

PM me if interested. Need the right realtor and a good real estate attorney. 

Any experience with these? Looks good on paper: - owner retains legal title to property -so protected against buyer's default- - buyer pays for property taxes, insurance and maintenance (kinda "triple-net'" on residential) - owner gets down-payment and higher yield, buyer gets non-bank financing -can even be wrapped around existing mortgage so seller can get a margin above original mortgage payment That's on paper. Anybody has real life experience?

Price it retail. You won't see investor interest, no matter where it's advertised.

Don't have the answer to your query but in their shoes, i'd do likewise: why would they negotiate with someone they have zero leverage on? Their only claim is the lien, you don't own the place, you owe them nothing, Why make concessions to you? They'd be negotiating against themselves.

Just my $.02