Sep212009
How to Find Cash Flow Notes Nobody Else Will Ever Get a Hold of
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This video reveals a strategy for finding cash flow notes that is especially effective in today’s weak real estate market. Make sure to leave your comments below.
Although i have a cashflow website, i do a poor job of remembering the url for it. I have been trying to get my business off the ground for sometime now and i honestly think the think holding me back is the simple “know how”. I understand the princple behind the business, the marketing plan(postcards..etc), but i think actually “locating” them is my biggest issue. I don’t have much time to go the local courthouses and look up the information on local notes and deeds. I’m sure it’s much easier than it seems, but i’m probably making it much harder than it needs to be.
With a dad in my early 30’s with two small kids, so i don’t think I can really afford to attend a conferance to learn this process first hand unfortunatly.
IS there a way I can better encounter my first note deed. I’m very eager to get this done and get it done right so I have the “know how” to be more successful. Great video by the wa… very informative.
September 21st, 2009 at 1:57 pm
I watched your video and the information is exciting, but you have not pointed out an extremely important part. How can someone sell their property with seller financing if the note they hold currently has to be paid in full first before transfering ownership to the new owner? Most people who are trying to sell their homes have conventional mortgages, which have a clause in the note stating they need to pay off in full at time of sale. Which is what is in my mortgage deed. I would love to sell my own home right now, but since I have to payoff my mortgage first, I can’t even do seller financing myself. Can you please respond back with some informa tion about this. Maybe I’m confused and I can still use seller financing, please help if I can, or other home sellers can, when they are in the same situation I’m in.
September 21st, 2009 at 2:28 pm
Did you get a response to this question? I had not even thought of this and I am very interested in the response to this question, it would help to know.
May 12th, 2010 at 10:21 am
Good video
How does the seller get the price they want when we have to deduct our fee and the buyer usually offers 80 – 85 % of the note?
Do they increase the asking price to cover the 23 – 28% difference?
Don
September 21st, 2009 at 2:55 pm
THis is fantastic that your making vidz. I really need this to get going. Thank you!
September 21st, 2009 at 3:05 pm
How can a person who has a mortgage, may be both 1st and 2nd, sell their property through owner/seller financing? Aren’t most of the the people who are selling or wanting to sell badly in this category?
September 21st, 2009 at 3:16 pm
I am one of your old time students that has done nothing and am not proud of it. I really do wish that I could get out and get the job done, fear?, probably, knowledge of the business, 25%. There are many more but I think I got turned off because everytime I tried to find out about something that I needed to know, It would cosst me more money.
The thing that I do appreciate is your not giving up on me, even though I cna’t afford to spend any more money.
The video was well done except it did not explain whether the property had a bank mortgage on it or had no mortgage?
If it did have a mortgage on it ,, then what. I am confussd, I would love to know the business. Do you know how to boot me in the rear long distance, Could we TAlk on the phone??.
September 21st, 2009 at 3:18 pm
How can this work if the individuals selling the home have an existing mortgage on the property?
September 21st, 2009 at 3:53 pm
Hey Greg,
I’m not sure if anyone answered this yet, but that’s a great question- The property seller can create what is called an “all inclusive trust deed” or what is slang termed a “wrap”. It is like a circle within a circle. the interest rate should be the same or higher than the smaller existing mortgage. And to prevent violation of the due on sale clause, the property seller should deed the property to a family trust so instead of Greg seller the property, it would be the Carcaci family trust selling the property and this makes it much harder for the bank to say they violated the due on sale clause. Besides, the banks have bigger fish to fry, why would they call a loan due if they payments were always on time? If it isn’t broken don’t fix it, right?
That’s a common misunderstanding that I only explain if it is mentioned because it complicates the home seller education process and I just get to that when it arises.
In order for me to buy a wrap there usually needs to be a difference of 20k or more between the A.I.T.D. and the underlying mortgage.
Regards,
Andrew Distad
Investor.
April 2nd, 2010 at 10:06 pm
I have to ask the same question as Don on response number 1, how do we get around the fact that most homes for sale owe the same or more than market value?
For example, we recently found a FSBO that we wanted to wrap the 1st and 2nd and do seller financing but the sellers loan balance was the same as the comps in the subdivision. We did a lease/option instead of seller fincancing.
What is the max LTV that we can have when selling one of the seller finance notes?
Thanks,,,Eric
September 21st, 2009 at 4:06 pm
Hey Eric,
The Max LTV depends on the investor’s appetite and the market in which the home exists. It’s usually 90% tops but you never know, if you hunt hard enough you might find 95%. But it’d be pretty rare. But it depends on the other factors such as seasoning and credit. I might buy a 95% ltv note if there was 12 months conclusive pay history and 700+ credit. but it all depends. If it were in texas- sure! Detroit- No way!
It’s all subject to other variables. You just need to do the biz enough to get a feel for the market.
Regards,
Andrew Distad
Investor
April 2nd, 2010 at 10:11 pm
This is great! I will be looking for more videos. I would like to know how to help a FSBO who does not have the equity to offer owner/seller financing.
September 21st, 2009 at 4:12 pm
Great video. Keep ‘em comin’. We need new fresh ideas just like this and a video presentation is a great idea.
September 21st, 2009 at 4:15 pm
HI
I like what are you guys doing to push note finder should do to get note. That excellent, people like me need that some one backbone behand to support me with out saying pay this or charge for any thing. Keep up I will proud men for this company.
September 21st, 2009 at 4:18 pm
I like the idea of videos. I would like to take advantage of them. I have been in the note business but I haven’t started because I am not sure exactly how to do it. I would love to see more.
This one is good, but I am not sure how to tell them about seller financing cuz I don’t know enough about it!
I would like to see videos with real “meat” in them to instruct step by step how to do it.
September 21st, 2009 at 4:39 pm
Great Video! Never thought of that.. but the previous people bring up good questions. I would like to find the answers to them as well. Great JOB and I think Bill and I are in the same boat.
September 21st, 2009 at 4:41 pm
I am in the “same boat” as Bill Arendt. I get frustrated and disgusted when I make a contact & it doesn’t work. I get a lot of non-performing notes. But, on the upside the video is great, & Russ does hang in there with you. I will try it, again. Thanks.
September 21st, 2009 at 4:58 pm
Thanks for the video Andrew! You helped me see another way for finding notes! There are teachers that know their material well and those who know how to teach it well. And your a teacher that can do both! Theres a house down the block from me thats been for sale by owner for a long time. Now I can go an talk to him about seller financing as an option. Thanks again Andrew!
September 21st, 2009 at 4:58 pm
Mr. Steiner,
The ‘how to video’ approach is just great for me, because I have a serious hearing impairment. I communicate best in person, because I am a lip reader. The voice coupled with lips really helps me to better understand what’s going on. Looking forward to more videos.
Just a little background about me. I purchased Russ’s program Winning in the Cash Flow business for $2,500 nearly two(2) years ago. I went through all the materials, but never was able to finish the course. I have received numorus emails from Russ encouraging me to do this and that, but I had to make a phone call to headquarters. Well, that is where I felt completely cut off. I would not be able to talk on the phone due to my hearing impairment. I have always responded by email asking them to do business with me via email, but have yet to receive a reply.
Mr. Steiner, perhaps you would be willing, in some way, help me to really get started in this exciting business.
Thank you for your time.
James Miller
Auburn Hills, Mich.
September 21st, 2009 at 5:13 pm
We need more of these informative video’s because as we know most people are visual. This video is what every ann member needs in order to get started and cashing in in the cash flow business.
September 21st, 2009 at 5:22 pm
GREAT MARKETING TOOL FOR YOU AND US
A WIN,WIN SITUATION OF AWARNESS AND APPLICATION
KEEP THOSE STUDY VIDEOS COMING
YOU’RE FINALLY ON TO SOMETHING RUSS
September 21st, 2009 at 5:30 pm
Great video. ESPECIALLY POWERFUL strategy in the current economy and current real estate market. The video was a terrific method to deliver that message and what that message could mean to you as a note finder. More videos? Sure.
September 21st, 2009 at 5:34 pm
Great video. Very helpful. The only question I have is, wouldn’t people be hesitant to sell their note at such a discount?
September 21st, 2009 at 5:38 pm
Hi—This was a great Video – however I still don’t quite understand the Seller Financing-Note Finder – are you going to go into it more? Anyway – it’s great Thanks
September 21st, 2009 at 5:49 pm
Very well presented Andrew,
The information, video and sound quality is Great. I really liked that I can full screen it on my PC desktop. It was very welcome. Keep it up!
I am going to work on learning details and help some Neighbors right down the street here in Neenah WI.
September 21st, 2009 at 6:08 pm
Andrew did an excellent job getting his points across relative to the economy being 0n the down side. His seller financing is a great idea which I am sure will help me to get my business off the ground. SELLER FINANCING IS A WIN WIN SITUATION. I will get out and get going. We need more of this type of education.
September 21st, 2009 at 6:14 pm
I really enjoyed the video and the “How To”. I actually have a house across the street from me that I will now go and speak with the owner on Seller Financing. Great tip now I can go and check out my neighborhood to see how many I can find. Thank You for the video. I hope you will have many more of these. Thank You So Much!!!
Sandra Daniels
September 21st, 2009 at 6:17 pm
Great illustration! and the end of the story, “We can purchase the note from the seller so he can have his cash!”
September 21st, 2009 at 6:20 pm
Thank you for taking the time to do this very informative video, we need all the help we can get to be successful in this business.
September 21st, 2009 at 6:25 pm
Great Video! I am still trying to get my first deal done,I have had a few close calls and I expect that I will sonn be among those who have the good fortune to make an exceptional living this way.
September 21st, 2009 at 6:31 pm
Great Video! Staying on the subject of owner finance, can someone offer owner finance if they are still making mortgage payments to a bank? Could it be done with simultaneous closings? How hard would it be to setup? Would a note investor agree to purchase the note before it was created?
Your thoughts would be appreciated.
Thank you,
September 21st, 2009 at 6:36 pm
This is great. I’ve been stalled for quite a while now and this seems so much easier and doable than the process of finding lists and sending out postcards.
Keep the video’s coming…this will motivate me to keep moving forward…..
September 21st, 2009 at 6:49 pm
Great! Keep them coming !!!
September 21st, 2009 at 7:16 pm
This was awesome, thank you. I struggle with long hours on the job and fear, fear,fear. However I continue to try with
the small amount of time that I do have, I’m getting there a little slower than most but, I know I will get there.
Bound to succeed Pat
September 21st, 2009 at 7:17 pm
Give me more info on this…very interesting. Can someone tell me if the property has to be free and clear of any encomberances (that is a mortgage) or at least the down payment would have to satisfy the old mortgage to proceed with this seller financing situation?
People as far back as the 40’s did seller financing I hear…but they were “owned” by the sellers…is there something here I’m Missing???
September 21st, 2009 at 7:23 pm
I think the video was great and very helpful for of those who are getting started and others old in the biz. Keep them coming in. Thanks!
September 21st, 2009 at 7:35 pm
This is great! I really like this video,this will get me going.Please keep them coming. Thank You!
September 21st, 2009 at 7:41 pm
This was a fantastic video. I am new to the business and just listed my first note a few days ago. There are several homes for sale in my neighborhood that I can possibly be able to post. What an excellent idea! Thanks!!!
September 21st, 2009 at 7:41 pm
i like it its cool
September 21st, 2009 at 7:51 pm
Thank you. I loved your video. I have some questions as to
how this ’seller financing’ works. I have my home up for sale and it hasn’t sold yet. Would this work for me?
Delite Fahl
September 21st, 2009 at 8:02 pm
It’s great to see this on screen which enables me to visualize this concept in a much clearer and illuminating fashion.It generates much more optimisim and clarity in getting started.
September 21st, 2009 at 8:28 pm
This is a great video, It is very inspiring.
I have a brief question, Can a homeowner with a mortgage offer selling financing?
September 21st, 2009 at 8:32 pm
Is It Really This Easy/Simple/Uncomplicated To Be A Seller Financed Note Finder/Seller…?
- seller financing notes in a credit crunch
- help buyer buy
- help owner sell
- get paid
- – - – -
Video Example -
- 50 homes
- 5 qualified buyers (bank financed)
- 45 homes go unsold
- most people are not getting bank approved for mortages
- 1 of the remaining 45 home owners offers seller financing
- 20 unqualified buyers have ONLY 1 HOME to buy
- so the price of the seller financed home goes UP
- 20 buyers or 5 buyers
- create a seller’s market by helping owners sell their houses quicker with seller’s financing
- some home owners/sellers are not aware how seller financing can help them sell their home quicker
- see a for-sale-by-owner sign
- tell the home owner how seller financing can help them sell their home
- the benefit to YOU (ME) when the home seller offers financing
- the seller is creating a note where YOU are (I am) the ONLY deal finder
- seller creates the note to get the home sold
- they turn to YOU (ME) and give YOU (ME) all the note information
- YOU (I) get the note sold and collect YOUR (MY) referral fee in the process
- no competition
- seller is creating a note… JUST FOR YOU (ME)!!!
- a win-win situation
- you (I) win
- seller wins (gets cash now)
- buyer wins (without bank financing)
- talk to home sellers
- tell them how seller financing can create a seller’s market even in this economy (September 2009)
- when banks are not lending
- people need seller financing
- seller financing notes in a credit crunch
- help buyer buy
- help owner sell
- get paid
- – - – -
Question -
What is the note finding and selling ‘daily grind’/work?
What else is involved daily in addition to, so to speak, walkin’… knockin’… talkin’ to strangers in person, on the phone and online?
PS… Video’s are great for 10 minute teaching moments.
September 21st, 2009 at 8:38 pm
I think the video idea is great. It will help when I can’t come for training. Hopefully it will get me motivated again.
September 21st, 2009 at 8:48 pm
These videos are great, just like cash flow tv. Getting information this way works best for me. Thank you.
September 21st, 2009 at 9:04 pm
THIS VIDEO IS TERRIFIC. GREAT IDEA, GREAT CONTENT, GREAT FORMAT. IT’S INSPIRATIONAL & REPRESENTS YOUR CONSISTENTLY HIGH STANDARDS OF EDUCATION. THANKS DREW, THANKS RUSS. DREW, YOU LOOK GREAT. GUYS, MORE OF THIS WONDERFUL OUTPUT, PLEASE.
September 21st, 2009 at 9:10 pm
DREW, RUSS, THIS IS GREAT STUFF, INSPIRATIONAL & UP TO YOUR USUAL HIGH QUALITY STANDARDS. PLEASE DELIVER MORE OF THIS TERRIFIC CONTENT. DREW, YOU LOOK GREAT, ALSO INSPIRATIONAL.
September 21st, 2009 at 9:27 pm
This video is very good. Andrew should keep this up, for the information is presented simply and succintly!!
September 21st, 2009 at 10:42 pm
The video in the newsletter is a great idea and teaching tool. The video is short and effective in communicating all the pertinent information.
September 21st, 2009 at 10:54 pm
Hi MR.Russ befor I say to much! IT’S been a long long time for me! what I do tonight!becuse of you! keep write to me for somtime.I Apperciate and you also belive that I’m the WINNER IN YOUR’S BOOK. Thanks you MR.RUSS
Tomorrows are only todays Waiting to happed…..
Mr. Andrew, For the fist time I watch the video it’s fantastic it was in my prayer. I Need somting to helpping me to understand and get going. With my dream. however; you
just had to find the way to helped me by sented the VIDEO on my Email WOW!!!! THANKS YOU!!!!
September 21st, 2009 at 10:54 pm
Excellent Video. I am super charged up now being a Realtor of 10 years transitioning into the Private Note Business. I realize this is one of many ways to be successful in a feild I’m already in. Its like discovering Gold. This is great!
September 21st, 2009 at 11:03 pm
Excellent idea, but I may have missed the strategy on how to entice a potential seller’s interest to choose me as a note finder? My banking experience taught me to ask open ended questions, probing, and pursuing the sellers “needs” to make a quick, impressionable sale to strengthen future sales through that same seller.
Granted banks are in the same predicament as an individual, but from a business standpoint. Protecting their bottom line, and minimizing losses? I thought Mr. Steiner would have emphasized some of the advantages of using a note finder, and arousing a potential buyers interest?
September 21st, 2009 at 11:28 pm
Great information,looking forward to more videos
September 21st, 2009 at 11:48 pm
This video was great! Wish it was longer. I am anxious to see more. Thank you for the info.
September 22nd, 2009 at 12:25 am
Thank you!!! I really like the video!!! I agree we need to work on this. Another video would be to help on the steps for
getting seller the paperwork for owner financing……
September 22nd, 2009 at 12:42 am
If the home is not free and clear, how does the seller deal with the due on sale clause in the underlying financing?
September 22nd, 2009 at 1:35 am
I this video to be very informative. It shed a lot of light
on the current housing market(the banks tightening up on
their lending practices).
September 22nd, 2009 at 2:54 am
great job andrew! i loved it, keep sending us more. ever since you guys started teaching us about this new market i’ve been trying with a few different people but so far no hits, people in this part of pa. are afraid of carrying back their own financing. what can i do to convince them that this can work. it seems nobody around here nows you can even do this.
September 22nd, 2009 at 5:17 am
Loved the video. Gives me the motivation I need.
Is there a chance the note won’t sell? That’s the
one thing that bothers me. The seller would be
pretty mad at me.
September 22nd, 2009 at 5:46 am
That’s a good idea. Wish I had thought of that.
September 22nd, 2009 at 6:56 am
Great video and information.
I beat you to it, already have given out my card and information letter to 15 for Sale By Owners.in the last 2 weeks.
When I am out and about either with my work ( I drive all around the city )or for personal business, whenever I see a sign, I stop and leave my information for the seller.
I have had 4 responses out of the 15 in the past week, and I will be sending a postcard as a follow-up to all in a couple of weeks.
I never leave the house now,without my information and notebook to write down the addresses of where I leave my information.
September 22nd, 2009 at 7:01 am
This video is what I need. I see the potential, have plenty of houses to go after, but don’t know where to find the buyers. I would love to see a video that shows how to find buyers and maps out the whole process.
September 22nd, 2009 at 7:02 am
This video is a great idea. I have always been a fan of meat and potatoes.I am constantly hungry for new and fresh ideas.Keep the videos coming!!
September 22nd, 2009 at 7:36 am
This is Great! keep ‘em coming! I was greatly encouraged, I’m very nearly ready to get started, as soon as I get some other things out of the way. Thanks a lot! Sharon Nissley
September 22nd, 2009 at 7:40 am
Andrew,
Great video. The homes you speak of I assume there can be no mortgage on the sale home.
September 22nd, 2009 at 7:42 am
I liked the video and hope you will do more of them. They are perfect because you can watch them anytime when you have a few minutes available.
September 22nd, 2009 at 7:58 am
I would be interesting on more teaching how to get started. I watch sellers finance which was very interesting.
September 22nd, 2009 at 8:19 am
I really enjoyed the video and it enlightened me on the subject. Please keep these videos coming. Thank you Cheryl
September 22nd, 2009 at 8:20 am
GOOOOOOOD STUFF Drew, I will put this info into action this week. I also have a Real Estate business allowing me the privilege to get this word out. Looking forward to everyone’s success. Thanks, for all that you do Drew.
September 22nd, 2009 at 9:02 am
I have the same question as Greg Carcaci. Most people need every cent from the sale of their house immediately in order to purchase their next property. Can you close on the note sale on the very same day as they sell their existing house and buy their new house? If so, how do you convince the home seller that it could be done?
September 22nd, 2009 at 9:24 am
We are receiving a number of great questions, everyone! Thank you for all the kind remarks. A common question we have been receiving is about how to do seller financing with an existing mortgage with the bank on the property. I can tell you we will definitely be covering this topic in future videos. Also, we will be having a live Question and Answer forum in an upcoming webinar, so be sure to keep your eyes peeled on your email inbox!
September 22nd, 2009 at 10:30 am
I understand the concept. However, do to the real estate market, many people are upside down in the value of their houses. I have a rental property that I owe $260,000 but it is only worth about half in today’s market. It was worth over $300,000 just a few years ago. There are many people in that same boat and the ones that aren’t can be flexible enough that they don’t need to offer seller financing.
September 22nd, 2009 at 10:33 am
On the average how long will it take me to put a deal together for the home seller to get a lump sum of cash for their house. Thanks
September 22nd, 2009 at 10:33 am
Thank You so much for the info. You have offered so much help and I think you guy’s are the best. You just will not give up on us and will not leave us alone untill we make some money. I was in pro sports for 10 yrs and I like the push to get better. Thanks guy’s!
September 22nd, 2009 at 11:01 am
The videos are a great tool. However, I echo the others about how will a homeowner create a seller note, get money to pay off his mortgage(s), and get cash for themselves.
The video does not mention the steps, because a seller will want to know how this process is done to be a ‘win win’ situation.
I may have missed the few steps of how it is done, and I reiterate, I have an existing mortgage needing to be paid in full, I want cash back, and I need to create a note for my home sell. How will this be done?
Please provide a video with the detail or send the detail via email.
It sounds to good to be true and to easy to be uncomplicated.
I am open for clarity and process. Thanks.
September 22nd, 2009 at 11:44 am
This is a great idea. Loved the fact that it was done by a video classroom type teaching session. I always get more out of the spoken word. Like everyone else, I am curious about the homes with existing mortgages. Do we look for sellers that have a first that can be assumed and owner finance a second? Can’t wait for next video lesson.
Thanks
September 22nd, 2009 at 12:11 pm
I loved the video lesson! I can go back & rewatch any sections I may need to review. I think this is a great idea & big help;
September 22nd, 2009 at 12:16 pm
Hi Drew,
I love this video, it’s really help me to understand how to find notes without going down to the court house. But I still don’t understand how can the seller financing if they still own the money to the bank (mortgage)? do they need me to come in to help them sell the note before closing??? Anyway this is the best email I had received. Thank for keep in touch with me through email. Thank Russ for sending me all the emails, unfortunately I don’t have any money to go out to colorado to see you for more training.
September 22nd, 2009 at 1:49 pm
It’s a great Video on Seller Finance. The question is which notes can really be sold through seller finance. Example A wrap around mortgage of $100,000 with a lien of $40,000 would be kind of dificult to sale because the payor or the seller would have to pay the $40,000 so the bank can release the lien. Who has $40,000 cash to spare? The only Seller finance that I can se being sold are the ones who are in first position and free and clear tittle. It includes that the seller doesn’t owe much in back taxes. Well this is the best time for seller finance, but you won’t know if you can help them until you talk to the people and see the clear picture. We just need to know what to look for.
September 22nd, 2009 at 2:10 pm
I see a lot of questions in the comment section-where are the answeres located…especially the one about being able to sell note when another mortg is being paid..thank you
September 22nd, 2009 at 2:33 pm
p.s.When owner wants to sale-fsbo- when owner makes a note say for $10,000. That will only be worth $10,000 after say 20 years…the note itself, right now is not worth $10,000. but less, because right now it would be worth say $5000..or less..How am I going to convince the seller it is worth the loss of this note in order to sell the note??? thank you
September 22nd, 2009 at 2:40 pm
This video was very imformative. Thanks for the insite.
September 22nd, 2009 at 2:58 pm
Just thought of doing this with a neighbor two doors down!Thanks for the confidence booster!I wondered if it could be just that simple as knocking on a friends door.I will do it.
September 22nd, 2009 at 3:20 pm
Thanks for your time Andrew. It was very informative in a short amount of time.
September 22nd, 2009 at 3:37 pm
Love the video keep up the good work. I have’t done any deals yet, but this video gives me motivation to get up and do it.
Thanks
Mike
September 22nd, 2009 at 3:41 pm
Hi Andrew, Great video and great concept; however, I do have two question. The course recommends staying away from “Green Notes”, are you recommending the opposite?; and, Will Buyers be interested in these unseasoned notes? Thanks! I’m fired up to add this to my strategy, but am interested in hearing your response. Cheers, Carl.
September 22nd, 2009 at 5:29 pm
The video is very informative and Andrew is a great instructor. I will apply it and see what happens.
I will be in touch very soon to let you know the outcome.
Thank you for the support.
Patricia Knight
September 22nd, 2009 at 6:07 pm
Thanks again Andrew Steiner, great vidio.It gave me the motivation and insite I needed for today to keep going.
Thanks
Ray Eagle
September 22nd, 2009 at 6:09 pm
In this video about seller financing, are you talking about
homes that are paid for or like most, they have a mortgage
and their home is not worth what their mortgage is.
Thank you,
Paul Newman
760/831-6259
September 22nd, 2009 at 7:19 pm
The idea of taking the time to share information was great, although I am a little confused. What is the difference between FSBO and Seller Financing?
September 22nd, 2009 at 8:40 pm
Please resend this. I did not get to see Drew’s video. I started it and had a phone call and had to go. When I came back to it, it wouldn’t replay. I always like Drew when he was giving my lessons, so please resend it. Thanks.
Eugene May
September 22nd, 2009 at 8:53 pm
Thank you. This video has built my confidence, and motivated me to go out there and find notes.
September 22nd, 2009 at 9:50 pm
What a simple but a brilliant way to show how seller financing could mean to both buyers and sellers!!! I cannot wait to see how you would show the next step in the process of successful note finder business!!! Thank you very much!!
September 22nd, 2009 at 10:37 pm
Very informative, I liked the presentation. I have noticed a lot more FBO’s out there. I think I’ll just start going to the door and introduce myself. thanks
September 22nd, 2009 at 11:23 pm
Russ and Drew the video is a very good idea, and it makes the note business more clear to me. Thanks!
September 23rd, 2009 at 12:04 am
Good general information video. Have many questions about details.
September 23rd, 2009 at 1:31 am
Great practical tidbits of information on a pertenant topic in the note business. One can never become over-educated in this business.
September 23rd, 2009 at 9:10 am
I too was excited about the concept being portrayed in the video but also had the same questions as many others: what about homes with little equity because of existing mortgages? and would Note Buyers be interested in ‘green’ notes?
I think you need to develop a means to give immediate responses to these questions. To say, ‘your questions will be addressed in future videos’ is not very satisfying for ‘eager to learn more’ notefinders.
None of us wants to be foolish by approaching a home seller with an idea that is not completely thought out. So, I for one, will wait on this great idea until more questions are answered.
PS…I too love the video presentation idea.
September 23rd, 2009 at 10:09 am
Thank You so much for the info. You have offered so much help and I think you guy’s are the best. You just will not give up on us and will not leave us alone untill we make some money. I had actually quit trying to find notes after years of failures, this video inspired me to keep trying.
Thanks guy’s!
September 23rd, 2009 at 11:22 am
Hey Andrew. Great video again! I’ve read some of the responses from the others and most talk about the same problem: How to owner finance a home with an underlying 1st or 2nd mortgage? Well, most of the time the’re referring to the “due on sale clause” in most loan docs. The fact is even though most loans have the verbage, you have less than a 1 in 100,000 chance of a bank implimenting it! Yes, if they find out you sold the home,(Only “IF” you recorded a mortgage right?), they may fuss ALOT, but in over 20yrs I’ve never seen one actually follow through with it.
Second, the other reason having an underlying 1st or 2nd mortgage might be a problem is when the seller owes more than the house is worth!Well, there’s an answer for that too! If you’re notebuyers are interested in more helpful tips for creating notes, email me. Again, great job!
September 23rd, 2009 at 2:59 pm
I am interested in any information that will add to my knowledge of acquiring leads from potential note sellers and avoiding the caveats of non-seasoned notes.
May 26th, 2010 at 1:01 pm
This is a great idea and much appreciated however for me and perhaps others it does beg a few questions
1.Are we assuming that the owner owns the home outright? If not doesns’t the seller need permission from the bank to do this.
If I am an owner how do I know you can sell the note and if so what kind of discount am I going to have to give? If I am an owner doing this I am going to want some idea of the risks I am taking?
Thanks for your upcoming answer and insight?
Ray Maselli –Rockford, Illinois
September 23rd, 2009 at 4:38 pm
Very timely information, I am definitely interested in this area,of the Note business. Please keep me advised on your next video. I am in Arizona, do the majority of the foreclosed property have Banks as owners? which would be more timely, to call the contact on the foreclosure sign if the house is not occupied, or if the owner is still the one I would need to speak with, it is best to leave a business card,
or attempt to research the name and contact number? Please reply through my email. Thank you so much.
September 23rd, 2009 at 4:49 pm
I have bought the 1 2 3 steps. Still having some major problems… How do you FIND the BUYERS. Finding notes is the easy part but to find a buyer i don’t know how to do this. Can any one help?
September 23rd, 2009 at 5:09 pm
great. thanks. I can see that those holding a bank mortgage might be constrained but there are also properties that are paid in full through inheritance or owners have been fortunate to satisfy their mortgage. “estate sales” might be a good target.
September 23rd, 2009 at 9:13 pm
OH man, this is exciting. But some other viewers here do raise some pretty important questions that I think we would all need answered before attempting any of this, such as, someone selling their house when THEY are making mortgage payments as well
September 23rd, 2009 at 9:23 pm
ENJOYED THE VIDEO. THE INFO IS GREAT. WE DO NEED THAT OTHER INFOR ABOUT EXISTING MORTAGAGES. I REALLY APPRECIATE WHAT RUSS IS DOING. HE WANT GIVE UP ON US AND THAT IS GREAT. I’M SURE THAT WE WILL ALL GET A NOTE DEAL EVENTUALLY. ROBIN CREWS
September 23rd, 2009 at 11:48 pm
Love the clip. Educational and Inspiring. Hope your subsequent videos give answers to many of the questions listed above. Looking forward to more great presentations.
September 24th, 2009 at 8:38 am
Drew,
These videos are great. Please keep them coming.
I, like many of the other students have a question about how a seller with an existing mortgage even think about Seller Financing? Another question, one of our neighbors put a sign in their yard “For Lease” last year and it was several months until they took that sign down and then listed with a realtor, my question is “if they were able to potentially lease this home, does this mean they would qualify for seller financing” meaning their financial portfolio was outstanding? Also, since they have listed with a Realtor, could I call this realtor and see if the sellers would be interested in Seller Financing? I would appreciate your feedback.
Thank you
Maurita
September 24th, 2009 at 1:51 pm
My question to you is: We help a person sale
their house with Seller Financing. We create
a note from this, sell the note. Seller is happy. It’s like a simultaneous close.
Where the note is not seasoned. The buyer
has not made a payment yet. Most note buyers
want at least two payments made before they
would consider purchasing the note. Am I missing
something here.
September 24th, 2009 at 2:43 pm
I still can’t get the video voice mail to play complete I get hello how are you and I let this thing plaqy for 30 minutes and only got a word here and there saw you move afew times but no sound.
September 24th, 2009 at 4:47 pm
The videos are great it gives me a little more clarity on the note business. I also would like to know the answers to the many questions posed above. I have yet to begin working with the note business; the more I learn the more I will feel confident in doing it.
September 24th, 2009 at 7:02 pm
DREW, IN REFERENCE TO RALPH MORRIS’ (# 97) & RAY MASELLI’S (#98) COMMENTS REGARDING SELLER OWNED AND/OR OCCUPIED HOMES COULD YOU DISCUSS:
1) WHETHER OWNER OF MORTGAGED HOME NEEDS BANK PERMISSION TO SELL OR IS THIS DEPENDING ON SPECIFIC CLAUSES UNIQUE TO EACH INDIVIDUAL MORTGAGE/TRUST/SECURITY DEED?
2) DOES THE BANK HAVE TO BE INFORMED/INVOLVED?
3) WHAT WOULD BE THE LEGAL OBLIGATION OF THE OWNER? IS THIS ALSO A POLICY THAT DIFFERS FROM BANK TO BANK AND/OR EACH STATES INDIVIDUAL LAWS?
4)THE IMPACT OF 1ST & 2ND POSITION LOANS WITH HOME EQUITY LOANS AND/OR OTHER LIENS ATTACHED, ON THE VIABILITY OF THE NOTE? i.e. THE MARKETABILITY. HOW ATTRACTIVE WOULD SUCH A SITUATION BE TO INDIVIDUAL BUYERS? HOW DOES IT AFFECT THE LTV?
5) REGARDING FORECLOSURES,I SHOULD THINK THE BANKS WOULD BE EAGER TO HAVE “PARTNERS” IN HELPING THEM OFFLOAD THEIR LIABILITIES (NON PERFORMING NOTES) FOR A DISCOUNT. HOW MAY WE GO ABOUT INFORMING THEM OF THE ASSET & SERVICE OUR BUYERS NETWORK COULD BE TO THEM? HOW CAN WE CROSS THE INSTITUTIONAL WALL OF CREDIBILITY? HOW MAY WE APPROACH THEM?
THANK YOU.
September 24th, 2009 at 7:08 pm
Great Video Andrew. The big question is how do we find these Foreclosure Investors?
September 24th, 2009 at 10:22 pm
I have a same question. How could some1 do seller finance since they still owe money on the first?
September 24th, 2009 at 11:29 pm
Can a note be created between the seller and the buyer even though there is a loan (Bank Lien) existent on that property? i.e I have a house that I owe $100k left on it, The property is woth $250k. Someone wants to buy it but the bank would not quilify them for a loan. Can I create a sellers note and free up the Bank lien so I can sell to the buyer with a note?
September 25th, 2009 at 1:52 pm
ANDREW GOOD TALK SHOW IF THE SELLER NEEDS CASH HOW DOES HE DO THIS IF HE FINANCING THE BUYER??THANKS TOM
September 25th, 2009 at 2:41 pm
Quick question, I like everyone else is confused. I know someone who is upside down on their mortgage and needs to sell. Due to the market, they cannot get the amount needed to pay off the mortgage in full. They will have to do either a short sell or foreclosure. How do I come into this to help? I realize you say tell them to seller finance to get the place sold. But, if you only get part of what you owe on the mortgage, then you’re still left with the difference or a note. Can you then list the remaining balance or note up for sell within our site? I’m confused and way too many questions left unanswered. Thanks for the video, but really doesn’t explain how to do this.
September 25th, 2009 at 7:44 pm
The video was very informative and interesting. Your information will be very helpful to me in building my note business.
September 25th, 2009 at 11:20 pm
Great information Thank you
September 26th, 2009 at 2:04 am
I AM GUESSING. THAT THE SELLER FINANCING MUST WORK BY EVERYTHING COMING TOGETHER AT THE CLOSE OF ESCROW..eg. THE SELLERS TODAY WOULD NOT OWN A HOME W/O A MORTGAGE OR TRUSTDEED IN PLACE. THAT MEANS THERE IS AN ORIGINAL NOTE IN PLACE PRESUMABLY HELD BY THE SELLERS ORIGINAL LENDER WHEN HE PURCHASED THE HOME. THESE NOTES MOSTLY CONTAINED “DUE ON SALE” CLAUSES AND HAVE TO BE PAID OFF TO BE ABLE TO GIVE CLEAR TITLE.THEY WOULD HAVE TO BE PAID BY NEW CASH OF NOTE BUYER
September 26th, 2009 at 10:59 am
Great video it’s really encouraging. But just like some of the other questions, how do you help a owner that paying on a note and the appraised value is equal or less the note their paying on?
September 26th, 2009 at 7:25 pm
Hello Andrew & Russ, how are you? Andrew, I just watched 2 of your videos for a total of 30 minutes. Aug 5,09 I watched you on the Webinar and You consistently inspire me with your words & videos about the Cash Flow Business. The video was high quality and your explanation was great.I understood your 3 points ref: selling an unseasoned note; 1)Significant down payment, 10-20% down payment 2) High interest rates,8-10% & 3)Normal terms 15-30 years. I received my 250 leads from Protege and I also found 50 note leads from the Recorder of Deeds Office. The Court House will be my method of finding Note Sellers because of all the info you can retrieve on the Grantee, Grantor & the Note itself. My Business cards & Postcards will be ready next week and I am still cruising through my lessons at my pace.I received my 3 books & Protege Package July 6, 2009 and now I am on chapter 4, lesson 25. I am amazed at how much I’ve learned taking your course. I appreciate the E-mail reminders every week and the Videos Andrew produce to keep us going. Thanks.
September 26th, 2009 at 10:45 pm
Great information i am learning from it looking for more up coming site; How do i find foreclosure investors.
Thank you
September 26th, 2009 at 11:25 pm
I’m with several of your students on undrestanding how the seller can offer his or her home when it has a mortgage attached. Please help, Doug
September 27th, 2009 at 1:16 pm
Is there some rule of thumb we can use as to whether or not we can actually sell the note once we find it?
September 28th, 2009 at 10:45 am
Thank you, Thank you, I am a visual learner…I know understand a little better about the note finding .Please continue with the videos..I just would like more information about seller financing. How do you get the seller convinced that seller financing if the best for him/her during this financial hard times….I enjoyed what I have seen, will look at the other videos….Tell Russ, at last he understands that all do not learn the same way..Sincerely Joan
September 28th, 2009 at 9:13 pm
Excellent! Thank You!
September 30th, 2009 at 8:58 am
while the concept is good, the video is not clear on 1- can you do this when you’re still paying a mortgage to the bank? 2- where do we get the five buyers from to drive up the price of the one house that is for sale?
September 30th, 2009 at 3:41 pm
I would love to see a P&L or P&Ls for a real deal.
I wonder if selling a home on a note and then pre-selling the note drops the actual cash value to teh note seller down too low.
September 30th, 2009 at 3:44 pm
at first i didn’t understand how the business worked and trying to get in contact with the holders was hard but then when i watched andrew stiener video and i finally got i down and figured out how to do it so i am going to get back out there and try again untill i cash in on a note and also i can see me bettering my self for my kids and me thanks russ dalbey and andrew steiner
September 30th, 2009 at 9:52 pm
OK If you have a buyer and a seller that are open to creating a note? Is this a good time to do a simultaneous closing and cash out the existing loan? How important is the down payment. Would this work with commercial properties such as an apartment house?
Ron
October 1st, 2009 at 9:40 pm
I STILL DON’T UNDERSTAND.U DO NOT OWN YOUR HOUSE OUTRIGHT SO HOW CAN U OFFER OWNER FINANCING?IF U HAVE A MORTGAGE HOW R THEY GOING TO GET THE MONEY THRU U AND U STILL HAVE TO COME UP WITH A CLEAR TITLE OR DEEDAND PAY OFF UR HOUSE?
October 2nd, 2009 at 7:48 am
It is interesting reading all these responce and knowing you are not the only one with these hang-ups. I love the vedio, it’s like a one-on-one with a trainer. Now that I have more time, I will definately be working on these note findings. We need more of these vedios
October 2nd, 2009 at 9:48 am
xkTnXu I want to say – thank you for this!
October 4th, 2009 at 1:11 pm
Good video. Thanks.
Questions: #1 Does the seller have to have a lot of equity in the home or own free and clear for this to work?
#2 Or is this a way to give you visibility in that market? And hoping to be able to get one of the “better note deals out of the lot?
#3 It seems like a lot of leg work otherwise and may not have enough room for profit to the note finder—-unless we are talking about the end result being “volume”?
Is it possible to clarify?
Thanks for your help.
K.Correa
October 5th, 2009 at 2:01 am
Excellent! Thank You!
October 5th, 2009 at 3:43 pm
Hi, great videos, but I like a few others don’t understand if there is an exsisting mortage, how does the Sellers Financing work. I really want to know and understand this business, but can’t afford the cost of going to the trainings. Please help!
October 6th, 2009 at 3:48 pm
Keep them coming!
October 6th, 2009 at 7:45 pm
Awesome video! Thanks for the encouragement!
October 11th, 2009 at 6:24 pm
Andrew;
Thanks for the video, but is there any way we can download these presentations? I would like to be able to play it a few times to develop a presentation of my own, geared directly to sellers. I have been keeping up with all the videos, but keep coming back to this one. Great job!
October 22nd, 2009 at 12:05 pm
I am very new and a novice. I have also just found the videos. I started with the most recent vide and worked backwards to this one.
There are a number of reasonable questions above. However, I do not find the answers posted to any of them. Is there a reason or they (answres) published elsewhere.
I also found the videos helpfule and thought provoking
John
October 24th, 2009 at 11:37 am
Good video to help people get familiar with the business!
What is the next step when talking to a homeowner with the realor sign out front. What do you say to get them thinking about seller financing and how to get a repoire going so they will want to trust you and do business?
November 5th, 2009 at 1:46 pm
Looking at comment #1. How do you solve that situation? I understand the importance for seller finance. If I am to qualify a potential note seller, how do I go about that or where can I suggest to put them in the right direction? This is where I am struggling. There are several homes in my area that I think would be good choices for notes. Please point me in the proper area. Thank you.
November 30th, 2009 at 9:05 am
where is the information,
December 11th, 2009 at 9:23 am
I read very much about many topics of Law and Health. The book that has changed my life the most is: “God’s Covenant People, Yesterday, Today and Forever” by Pastor Ted Weiland.
This course needs to get me off and running to see what really can help me get off of dead center. This blog has been interesting and I am just like all ot the rest above. Thank you and stay by my side for the help I and or we need. Thank you and keep leading. bb
December 25th, 2009 at 5:13 am
There is two things i need help with one is getting my note holder to take in my computer, and also getting my Web site set up.
January 8th, 2010 at 11:02 am
Hello, Is someone there too help me?
January 8th, 2010 at 11:06 am
The comment that I have is, the viedo is of poor quality, information no doubt is of great benefit, but the breaking up starting again then breaking up again makes it very hard to comprehend. So if you can please send a veido of Chris Grishim, I hope thats his name, again that teaches or talks all the way through, that would make it understandable. Thank you Very Much. Carrie
January 12th, 2010 at 10:31 am
HI ANDREW
THIS IS ERSIE
STRAIGHT AND TO THE POINT….I LIKE THAT. I FEEL THIS IS SOMETHING THAT IS GOING TO BE GREAT FOR ME. THE VIDEO WAS FINE, SHORT, DIRECT…TO THE POINT TYPE APPROACH, WHICH I PERSONALLY TAKE IN BETTER…YA KNOW….NOT ALOT OF STORYTELLING ALONG THE WAY TO GET OFF TRACK.
I’M A NEW STUDENT HERE….AND I HAVE TO TELL YOU, I CAN’T WATE TO GET STARTED! I’M SOO EXCITED, I’M HAVING A DIFFFICULT TIME WRITING MY GOALS….NOT SO MUCH BECAUSE I DON’T KNOW WHAT I WANT AS MUCH AS, I’V GOT ALL THE PLACES IN MY HEAD OF WHERE I CAN GO WITH THIS!!!!
LOOK FORWARD TO MEETING ALL OF YOU SOMEDAY…AND MORESO TRLLING YOU WHAT FUN I’LL BE HAVING DOING THIS.
AGAIN, GREAT VIDEO
ERSIE WITMER
January 14th, 2010 at 11:34 pm
i tried to watch a couple of the videos. this one and the foreclosure one but after waiting over 10 min for them to download i never could get to watch them. i wasnt having any problems with my computer so it was on your end
January 24th, 2010 at 2:45 am
Your video was great but I could concetrate much better on what you are saying if there wasn’t all the hand waving,please don’t take my comment wrong.
January 24th, 2010 at 11:23 am
GREAT VIDEO,I”M PUTTING THE WORD AT THERE!! NJ
March 2nd, 2010 at 2:54 am
I find your videos very resourceful. I haven’t looked at you articles yet…see ya!
March 12th, 2010 at 3:29 am
Thank You Joeseph!
March 12th, 2010 at 3:35 am
I can’t wait to print your articles and study with them. I am sure!
March 12th, 2010 at 3:39 am
The two videos were helpful re: FSO and Forclosures, hope you will do follow-up videos with the next step. Example take a FSO that you spoke with and has agreed to work with the “note” approach to sell their home. What’s next, documents? posting it? and eventually selling the note/home? In detail what are the next steps? Thank you for your efforts to teach. I read all your company’s e-mails, but like another member had considered giving-up. The videos if they become more detailed, step by step process are exciting. We all learn at a different pace and in multiple manners, visuall, aditory ect.
March 30th, 2010 at 2:13 pm
Simply put,both very informative and motivational.
April 6th, 2010 at 9:20 am
Very informative! Quite an innovative approach…I like it and will definitely give it a try! However, I have a few questions:
1)can a seller provide seller financing if he/she doesn’t own the property free and clear; if so how does that work? 2)Where do we find the unqualified buyers who can only use seller financing?
Thanks.
April 7th, 2010 at 11:16 am
How does this work with foreclosures? And as far as owner financing is concerned, we let the owner know that creating a note will help sell their house? Right? Amd then the same rules apply like in the first book that shows how a cash flow note is created? Right?
April 11th, 2010 at 8:10 pm
Well, I have many questions but, who actually pays the down payment and how is the down payment created?
May 25th, 2010 at 1:51 am
I’m very interested in how a seller can hold a note to make their house easier to sell, but how would the 1st mortgage get satisfied? I would assume that the new note would be for the seller’s equity only. Please explain
May 26th, 2010 at 5:43 pm
I just noticed the answer to my question in comment #8 above. Thanks!
May 26th, 2010 at 5:50 pm