All Forum Posts by: Rodney Dixon

I'm looking for some pre-knowledge on creating a winning seller 2nd offer in a no money down deal. That said here is an example figure:

$100k purchase price.

Seller willing to carry 40% ($40k)

HML offers $70k(70% LTV)

Property produces $1100/mo PCF(after taxes, insurance and property management)

My offer:

1). $60k paid at closing to seller w/remaining $40k shall be paid in equal monthly payments toward seller 2nd.

2). After a refi occurs 12 months later, seller shall receive another lump sum to further pay down on seller 2nd and monthly payments to seller shall continue until paid in full. 

3). No inspection necessary close in 7-10 days.

4). I pay closing costs.

Furthermore, could I pocket the difference between the 60% I offered to the seller, 70% the HML quoted for the deal, including closing costs?

I need to know where are possible sources to obtain a option/purchase agreement to use to lock up a note deal w/a direct seller? 

Also, I need another agreement to lock up the deal w/the end buyer as well.

Thanks any and everyone!

Emmett & John thanks for your education & time!

If either of you could give me a strategy for utilizing my time or outsourcing the time it takes to find this information in its entirety, where would it be located?(As far as which states have the quickest foreclosure timeframes for tax liens as well as the shortest redemption period for tax liens)

MY STRATEGY: Buy tax liens, immediately start the foreclosure process and either gain a free & clear property or a nice return all within 120 days or less.

I have a 2 quick ones here in which regards tax lien investing.

1). Are tax liens foreclosed on the same way that actual properties are foreclosed on?

2). What are the top 10 states with the shortest redemption period?

I'm looking for a list of all states that have the shortest foreclosure windows in the range of 45-90 days. Can anyone help me out on this?

I'm currently in FL and my remodeled investing strategies doesn't go hand-in-hand with the 1 yr+ time that it takes to complete a foreclosure process in FL so I'm going virtual & abroad.

In the midst of my present mission of building my own rolodex of private lenders(see my other post in the private lending forum), I've come to the conclusion that having lenders, whom are already lending now AND can close as fast as humanly possible, is going to make a great addition to my RE investing business. Therefore, if you are a local(Tampa Bay area) or nationwide hard money lender, lets connect!!!

 Nicely put Mr. Pfeffer. Thanks for the education!

 Thanks Mr. Harris!

 I understand clearly that I'm not the "pioneer" of this type of action, however, as someone who is simply wanting to attempt something that may work, that was true purpose for my post. Additionally, thanks for your response and wishes! Conclusively, would the wealth advisors actually pass up an additional check for doing practically nothing? Moreover, for educational purposes, the advisor whose clients have their monies tied up in only so many investment vehicles(securities) could further leverage that same money by borrowing against just one of those securities, fund RE deals(not even mine) and let the same initial security investment work a double for him/her.

2bd+/1bd+ SFRs in the range of $30-70k w/little to no repairs. Great for landlords in a rental market where rents go easily for $650-900/mnth for 9-5 tenants or Section 8 tenants. Also currently in the process of building my list of sub-2 deals.