All Forum Posts by: Kris Haskins

good q antonio... ur talking about apples and oranges here. Typically private money is borrowed from an ordinary person that has capital getting a low rate of return. Ur going to use their capital and get itworking in a flip or a hold property. You'll pay them a % on the funds usually an apr(annual percentage rate

transactional lending is typically used for a very short time frame, maybe 1 day. This is when money is borrowed to close a deal quickly (a-b) then there is another closing that usually takes pplace the same day for a higher price where uwill sell the same deal (b-c). the c buyers money pays off the b buyers funds(transactional funds) and the b buyer gets his check for the difference. T funding usually has a flat fee for the deal. I charge $200-$250 per $10,000 or simply a flat agreed price for the day. There are tricky issues w both so get knowledgeable b4 u do either... t funding is my fav and gets me paid the fastest w no risk. I love it because I never even see the houses I lend on. Sounds crazy but true... Good luck

have u been successful in changing the zoning from sf to multi?

I never had success w mobile homes but we had great guy in our area who owned several parks and wrote 2 great books "deals on wheels" by lonnie scruggs. Google him to get it. Good luck

I have seen a lot of people use those flat fee companies. all of whom were disappointed. however did you approach a local broker and offer them the flat fee to simply list your house? U can do all the work and they can put in the mls for u, thats what we do...

I am NOT a CPA but I have done several lease options. From what I thought you only have to pay taxes on the option consideration once you sell the property hence a taxable event. . May be a cpa question.... good q..

this is a great forum. we typically shy away from doing doubles closings as costly. as long as you have equitable interest in a piece of real estate via purchase and sales agreement or an option to buy.... you can always sell your interest in that contract to a third party... good luck and don't be marketing properties you don't have tied up.

u hv a good deal, finacing is the easy part.... may not seem like it now, I assure u... money follows deals not the other way around.. my 1st recommendation is to find a friend or qualifying family member that has some ira/401k money getting a low rate of return. u can then use that money for ur down payment as long as the 1st lender doesn't mind YOU not personally bringing the funds. Ira money has been a life saver for us.... hang around the equity trust co. site for some good people too...

good luck...

did u verify the arv the agent gave u? in my experience some agents are a bit off the arv when they aren't putting up the $ to buy...

im sorry what is a shariff sale?

That is correct @joe, land trust is just a start. It can easily be pierced. But I'd say its a good start..