All Forum Posts by: Christopher Winkler

Welcome, and were you in TX at one time? We plan to relocate in less than 12mos to the Dallas Area....

We are a California based defaulted note buying company that specializes in buying heavily discounted notes on properties across the USA. We buy on an individual and bulk basis, and we have been bombarded with lists of notes we can pick up at 50% or less than the current market value on good looking, occupied properties.

For example, my Roth IRA just purchased a nonperforming 1st note in Columbus for less than $10k that was valued over $50k, shows nice pride of ownership, and have started the workout process. A self Directed Traditional or Roth IRA will give you tax deferred or tax free profits.

Our focus is to save America, one defaulted homeowner at a time, and will start by working out a loan mod with the occupant, and if not, we can take over the property and sell it quickly. Right now, there are over 50 properties that fit the states we are focusing on; Arkansas, Florida, Georgia, North & South Carolina, and Tennessee.

We are looking for Joint Venture Partners to help us with the acquisitions. If you are tired of battle other investors for properties, of dealing with termites, tenants, and toilets, and all the hassles of finding/fixing/flipping properties, or making less than 1% on money markets or CD's, or feel the stock market is ready for a large drop, then please call us to discuss the JV Program. We are not offering any securities, nor are we pooling funds. Each JV will be a standalone agreement & entity.

Call me to discuss our investment/JV opportunities and request a business plan.

Christopher Winkler
Silverwood Capital, LLC
1-714-434-1441
[email protected]

 Don't take anything personal Will, maybe it was your choice of words, as it sounds like you are saying you can double or triple your money a couple times a year when I read your comments, "I could place it all in just one, or over 2-3 easily and turn that $1M over at least 2-3 times each year."

My thoughts were that in SoCal, properties are going into bidding wars and you are going to pay very close to its value or above it value, so you are going  to tied up $1mm on a property that will make you much less than buying notes in states with realistic value at less than 50% on the dollar. You can't do that in CA...

 Then you will need that 20% down for a seller financing to show skin in the game to any lender, as well as go through credit risk analysis. If you are buying a house at the same time, you might be overextending yourself to a potential lender. Since you plan to have tenants in there, you will be responsible for any loan payments should you lose a tenant or 2 and not have the payment amount that month. 

With that said, we have a couple investors who will buy those new notes if the investor who writes these does them properly and wants to cash out.

Easily turn over overpriced CA properties 2-3 times a year? Are you serious? You are going to sell an overpriced $700k home for over $1mm? A couple times a year? The frothy market here is finally slowing down after double digit gains over the last few years.

 You will get better bang for the buck in other states with realistic house prices, though I would buy a pool of non-performing notes for less than 1/2 the value, and start working them out or taking them over and selling them. My 2 cents.

 Allen, the whole idea of seller finance is for people who can't get a regular loan, so if you can, you should through a bank & get a lower rate. If not, seller finance is there for you & its going to carry a higher interest rate. Seller financing goes back to the dawn of time as a way to arrange for someone to pay for property on terms, before banks were invented, or to circumvent them to keep the nice interest payments and make it easy to purchase by people who don't have the cash.

6% on a note is pretty good, considering 8-9% is very common. However, if the seller wants to sell the note in the future, the 6% would pay less than a 9% note, so its always good to consider your exit strategy when creating a SF note.

Jon, I don't follow your logic, as a run of the mill amortized loan would carry the 6% the entire term, right? Also, even if he did a 1 year note at 6%, you would have a lower payment with lower interest based on the balance? What am I missing?

Thanks for the link Bob!

Hello Realtors!

Looking for a realtor who can assist ASAP with a drive by inspection and photos of a property we are about to buy the note on NW of Charlotte, West on the 85, up the 321 N.

Looking for type of neighborhood, rentals or owners, vacancies seen, valuations, and crime in the area, etc.

While we will try to work out a modification to get them paying again, we might have to either get a deed-in-lieu and do a short sale, or go through foreclosure process & sell the house after that.

We would want the realtor to be with us all the way, and will pay you full commissions for any help in selling it. PM me for more info.

Hi Jay, always open to hearing from your experience. While you should have my email, i'll send a request also. Please send and hope you had a good day flying.

Chris

 Is it the mold house post?