All Forum Posts by: Christopher Winkler

It sounds like a good note, w/o seeing the terms of both docs. It should sell at a slight discount to UPB, most likely somewhere in the 90% range, and that's all based on what someone will pay as they typically are looking for a yield. Depending on who they are it could be low or high% of the range. Unless you need the cash for something else, you will have a taxable event, and you might want to consider either a 1031 exchange regarding the tax issue, or hypothecating it against some other investment.

5504 W Pershing Ave, Glendale AZ 85304

Here is a Deed of Trust private lending opportunity on an investment home in Glendale, AZ. The investor is looking to do a cash out refinance on this home with plenty of equity to use for another opportunity.
 The property has more than doubled in price since they purchased it 6 years ago.

Here are the numbers:

• Loan Required: $125,000.00
• Interest Rate: 9.99%
• Term: 2 year balloon with 30 year amortization
• Appraisal: $248,000.00
• LTV: 50.04%
• Balance of Current Loan: $79,569.56

Full due diligence package available to review upon request.

We can accept self directed retirement account funds also.

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@Dustin Mathenia, as Chad mentioned, you could easily lose that $30k. You might want to get some good, low cost education. https://papersourceonline.com has free and low cost education for you. Donna Bauer has a great, low cost package under $2k. Avoid overpriced guru's and you might want to consider buying a performing note first, get use to the intricacies and complexities of it, then start looking at NPL to buy, though use your BBQ money as if it is lost, you won't cry that much. 

@Mike Layne As an ex-student who he luckily kicked out of his sandbox and did not give him money due to him demanding cash, which is illegal, with no PSA, AOM, or Allonge that our custodian wanted for funds from our IRA, I am so sad to hear yet another person scammed. Do make sure you put up a Rip-Off report and let us know how it goes with the attorney. He is still out holding seminars looking for victims. http://weclosenotesanddreams.c...

@Erin Lamb, Thank you for your story, my jaw hit the table when I read it. I know how much this hurts to type out, though you have done other new & naive investors a HUGE favor pointing this out so they hopefully won't be swindled. Like one well respected educator says, never buy notes or JV with guru's.

They all have a shelf life...

@Victor Sarkisyan, if you still have not found your lender, our loans start @ $100,000, so please let me know if you are still looking by sending me a PM

Tell us about your story Mike...

Fire your hard money lender!

Our DSCR > 1.00 loans allow you to borrow up to 80% LTV starting at 5.75% for a 5/1 ARM, or 6.25% for a 30 year fixed with no reserves required! 

Loans from $100,000.00 to $3,500,000.00. As long as you intend to rent the property we can loan based on the rent comps. These are business purpose loans for landlords, can not be used for private purposes.

No limit on the number of properties you own. First time investor? Ok, as long as you have a 680+ FICO, there is a 5% LTV Reduction.

And we don't care if you put a 2nd lien on the property, as long as you come up with the difference. You can use gift funds, though only for a 10% LTV reduction, so you would still have to have some skin in the game, though nothing stopping you from getting a private investor to cover the difference.

PM Me for more info!

Here are my 6 time proven methods to identify internet scammers trying to rip you off with advanced fee fraud. Just had someone on LI exposed as a scammer who said he would loan $650k on a commercial building with $10k out of pocket, or actually into his pocket. He did not pass any of my smell tests.

1. Advance fee
2. Last name is their first name, Steve Kevin in this case
3. Called their phone# & it sounded like I was calling another country
4. He sounded like he was from Africa
5. His address was an apartment building
6. In Chrome, right click on their pic & "Search Google". You will see it brings up all occurrences of that picture. In this case, 4 of him and 3 of another guy, who he stole the body from and put on a different head

if you are tired of losing bids due to buyers overpaying, this space is less crowded, and the prices are less frothy! You can literally pick these up for pennies on the dollar.

The properties were foreclosed on, and the lien is gone, though the note is valid debt, and still good & collectable, unless they have filed Chapter 7 BKY.

And the ideal way to exit is a judgment, and then you can go after property and garnish wages. There are nationwide firms that will do it for you if you cover cost costs, and split what you get, or work it out 100% for them to cover costs for a higher split.

Collecting on one or two of these will pay for the entire pool. Please make your highest and best bids by Friday the 29th by 5pm central. Cherry picking is allowed.

Here are the numbers:

• Total Loans: 113
• UPB: $10,477,706.12
• Average: $91,909.70

Breakdown by States:

• NY - 86
• FL - 16
• GA - 3
• CT - 2
• NJ - 2
• IL - 1
• MD - 1
• NV - 1
• WA - 1

Questions or interest? Please PM me...