 Articles tagged: Seller Held Second Mortgage
<< previous page 1 next page>> written by Dale Rogers
As the financial markets are being rocked by daily negative news including the latest lenders closing their doors and higher levels of reported foreclosures hitting new highs have stoked even more the slide of the troubled mortgage business. The mortgage products including Option ARMs, 2/28 Subprime ARMs (2 years fixed then adjusts every six months), NO DOCs, Self Employed Stated Income, W-2 Stated Income, Bank Statement Loans, No Ratio, and other esoteric subprime loan products. written by Dale Rogers
In some areas of the country it is getting more and more difficult to find values that make sense for investment. Further complicating returns are accelerating taxes and insurance. Laying this all over an investment scenario margins are thin or non-existent. Long term appreciation in these tapped out areas is the only way to recognize any type of return but the property may need to be fed cash every year and that is not a pretty picture. The rents lag the necessary number to make the property feasible. With some cooling markets, the rapid appreciation of values may not be there to make those properties worthy of consideration. Like many other competing investments other areas are combed for values. Warren Buffet looks high and low for investments in the U.S. as well as offshore to give shareholders the often anticipated return on their investment. For the moment let’s assume an investor is somewhat less in net worth than Mr. Buffet. If there is money available, perhaps other areas could be examined for potential targets of your investment dollars. written by Dale Rogers
Today builders and homeowners are again operating in a soft market. The “paper business” is a great way to make deals work. With the advent of corporate note buyers in the market place the deep discounted opportunities can be limited, however, there are still opportunities. If you end up with paper on a deal, hopefully at a discount, many creative practitioners using them at face value to put together purchase and trade deals. There is more than one way to put real estate sales together. If a buyer has a car, truck, semi-truck, semi-trailer, boat, mobile home, motor cycle, vacant lot, gem stones (the appraisals are varied), diamonds, collectibles, personal property loan, business note, judgment award, lawsuit pending on a traffic accident, life insurance annuities, inheritance, business inventory, chattel mortgages on equipment or any number of combinations can be used to make deals work. Yes it is sometimes sticky, but if you can stay within your comfort zone and two parties agree after utilizing professional appraisers and such, give it a go. The alternative is to do nothing and let the market roll over you like a run away freight train, or you can make something happen. Déjà vu. written by Dale Rogers
Jack and Mary were desperate. Mary received a big promotion in another state and Jack was looking for a new job in the same city. It was just too good to pass up. Mary was a rising star in the health care industry and with the huge pay boost and promotion it was a job she had dreamed of ever since leaving graduate school armed with her MBA. Jack was a natural born salesperson and could work anywhere selling just about anything. He liked high tech sales in the high-ticket electronics field and was close to catching on with a company in the same city as Mary’s new job. One problem, they had a large house to sell in a very slow and slumping real estate market.
Soft markets can lead to flexible terms which can help complete real estate deals. Keep and open mind. There is more than one way to skin a…real estate deal.
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