All Forum Posts by: Dan Krause

The buyer is telling me it is commercial loan modification wher the original lender sells short and then flip it back to the original holder at 50-65% of the new current income appraised value. He is telling me there is no negotiation needed on my part-just supply him with leads. Dan

:D Kevin: Thats what i was wondering. And its something i'll have to find out-why doesn't the owner take out an equity mortgage against his own property?

:D I got an e-mail response from an older BP posting of mine. They are looking for a commercial property locator. They need distressed property owners that have non cash flowing and upside down properties. They will buy their note from their lender and sell it back to them at 50-65% of current income appraised value. My question: Is this a feasable strategy? I think i have heard of this before but am not too familiar with it? Why would an owner let their note go and then buy it back? If BP members could elaborate on this? Thanks, Dan

If wholesaling is legal in all 50 states Ebay policies would be the only legal hurdle wouldnt it?

Dont know yet if they do have special provisions on this. But i did find out from ebay that they allow notes to be sold on their site. Dan

USA only

This would also be like trying to sell real estate notes on EBay-wouldnt it? Or no because a sales agreement is invoved? I have never seen notes for sale on EBay

I'm glad someones liking the idea. But who would you contact to find out what the "legal hurdles" would be? EBay legal Dept.? Any state Real Estate commission? I mean wholesaling in itself is legal in all states, and EBay should not have a problem with posting a real estate description as long as it fits into their policies. But we are discussing combining cyberspace with a wholesale agreement here. Dan

Dave: What would those legal hurdles be?

To take posession prior to a closing and use the rental payments (on a multi-family) as the down payment.. this would probably not work if there was a real estae agent involved would it? For it to be doable it would have to be an FSBO deal-yes? Dan