seller financing

Hello everyone! This is an exciting time of year. Yes, I’m excited about Christmas coming, and yes, I’m really looking forward to spending some much-deserved time with my wife and kids.

I’m also VERY excited about 2009, and the real estate investing opportunities knocking on our doors.

I recently taught a Webinar where I shared the “Top 5 Income Producing Strategies for NOW and 2009″ with MWI investors. Due to national financing difficulties, low prices, increasing rents, and government financing, there are HUGE avenues for savvy investors to make a lot of money in 2009. That’s where my “Top 5 Strategies” come in. They are simple strategies that you can start using right away.

If you missed one of my recent Webinars on this subject, you’re not too late yet. I am replaying the Webinar one more time. The replay will be on Monday, December 22nd, at 6:00pm MT. You can register here.

I have also received a lot of questions about these “Top 5″ strategies. So, I have scheduled a LIVE Webinar dedicated to Q&A on these strategies. This “Q&A” Webinar will take place on Tuesday, December 23rd, at 10:00am MT. You can register here.

I will be taking live questions on the new “Top 5 Income Producing Strategies for 2009”. I will also be answering any other investing questions you have. My “whiteboard” will be ready to go, and I’ll be sharing new notes and answers with the audience.

These techniques are groundbreaking. My time is extremely valuable and my free moments don’t happen very often. This is a rare opportunity to ask me your questions.

Make SURE to register and arrive on time. I will be taking the questions on a first-come first-served basis. If you haven’t seen the original “Top 5″ Webinar yet, make sure to watch the replay on Monday!

I look forward to answering your questions on Tuesday!

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Last Monday, one of my co-investors asked me how the multi-billion dollar economic bailout would affect Seller Financing and other similar financing techniques.

I think we are still a ways away from seeing much effect from the bailout on regular mortgages and loans. Even with relief, banks will still  be bloated with foreclosed properties they are desperately trying to unload.

So, how do you find a great deal on an REO or bank-owned property? Here are a few tips:

1. Focus on small credit unions and banks. You can often find the REO portfolios for these local banks on their websites.

2. Look for the income-producing properties in the REO porfolio first.

3. As I’ve said before, banks WILL seller finance to you. However, DO NOT just walk in and “ask for Seller Financing”.

4. Instead, visit your bank’s REO representative, and tell them, “We are willing to purchase any of your REO / Loss Mitigation / Bad Debt portfolio list that:
- Meet our criteria, OR
- You (the bank) are willing to finance

Those are just a few tips. You can find more on any one of my recent Training Calls and Webinars.

I’ve also just introduced a new tool called “THE List” that is helping many of my students uncover amazing new Seller Financing opportunities. I’ve called this tool, “The Most Profitable Tool In Today’s Real Estate Market!”. If you’re serious about finding and profiting on real estate deals right now, this tool should be one of the big guns in your “Non-Compete” arsenal.

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If you’ve been reading my blog, you know that banks are willing to just about anything to get rid of bad debt (their REO portfolios). Banks are also afraid of more properties entering their REO portfolios. At the most basic level, they want to avoid foreclosing on any more loans – almost at any cost.

In our current market, I am seeing people harness that fear to lower the interest rate on a loan they have. Here is a simple scenario of how that might work, where a Property Owner goes into meet with a Bank VP:

Property Owner: Hello Mr. Bank VP! Times are tough, I’m worried about not making my next mortgage payment.
Bank VP: That’s too bad, I wish we could help.
Property Owner: Actually, you can!
Bank VP: Oh?
Property Owner: I think all I need is a slight reduction in the interest rate, and I’d be able to keep my head above water.
Bank VP: Hmmm, we really can’t do that.
Property Owner: Well, in that case I’m afraid things don’t look good. With the way things are going, I don’t think I’ll be able to make the December payment. Do you really want to foreclose on another loan?
Bank VP: Not really, bu-
Property Owner: - I recently saw your REO portfolio on your website, and its huge. Really, all I need is a slight reduction on my rate, and we’ll keep me OFF that list of bad debt properties eating away at your profts.
Bank VP: Well, that makes sense, What if we….

And you’re off to the races!

It CAN be that simple. Many of you are owners of investment properties and income-producing properties that are in legitimate distress. Many of you are negotiating with banks to buy properties. Talk to your bank. Don’t take NO for an answer. I recently took a variety of questions about this topic on a Seller Financing Q&A Training Call with my students. You can now access a free recording of that call.

Over the next few days, I’ll talk about how to make a non-assumable loan ASSUMABLE, and how to find amazing deals in distressed REO portfolios at your local banks. Stay tuned!

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Yesterday, I shared four factors why I think our current market is creating a “Perfect Storm” for smart investors who are willing to take action.

As promised, here are the remaining factors:

5. Vacancy is falling.
Among other things, the surge of renters has made it much easier for landlords to keep their buildings full and cash flows strong.

6. There is not a lot of new apartment construction.
I recently read in the “Harvard Housing Study for 2007” that over 4000 units were taken of the national market last year alone.

7. We are about to experience a population surge of buyers/renters.
The next home buyers/renters are the Echo Boomers (the kids of the baby boomers). Many of them won’t be able to buy and will need to rent. This is important because there aren’t a lot of new apartments for them to occupy. There is also still positive and increasing migration into the United States.

8. People are losing their homes AND income-producing properties to foreclosure.
Like I said before, everyone is talking about the foreclosure crisis in the residential sector. Commercial and multi-family properties are also being foreclosed on at alarming rates. Smart investors know how to find these properties.

For more about our current market and creative ways to finance your deals, don’t miss my Seller Financing Webinar tomorrow, on Friday at 12:00pm MT.

Until next time, Happy Investing!!

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