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user17516946 wrote:

Homevestors - Anybody with any experiences???

Response
If I were you I will put in contract for the buyer to pay my mortgage for 15 -20 years, in that way you will make some money and not just break event. Wrap around mortgage  is a creative financing method/owner financing. You will still have a lean on the property, if the buyer default on the agreement to pay your mortgage, you can foreclose on the property and get your house back and the investor will loose all the money they put in to pay your mortgage.You can also negotiate with the bank to do a short sale if you are going underwater, otherwise this deal should keep your head above water.The investor is running the numbers to see if they will make some money on the deal before they can proceed on the deal.[Promotion and website removed by Zillow moderator. Please see our Good Neighbor Policy for information.]Lack of understanding can sometimes scare ones taught process. For Ofe and Tesa as real agents you should have some idea of creative financing (wrap around mortgage etc) and not scare the hell out the poor guy saying it's a scam without explaining how? It just make me wonder if the experts are real experts? These so call experts defraud property owners and got us into the housing crisis and many people are loosing their houses by listening to the so call experts.I am an ordinary guy teaching myself to learn the language of real estate investment and financial investment for a month now, hence this advice is not an expert advice. [Website removed by Zillow moderator. Please see our Good Neighbor Policy for information.]
September 24 2013
(0)

Homevestors - Anybody with any experiences???

Response
If I were you I will put in contract for the buyer to pay my mortgage for 15 -20 years, in that way you will make some money and not just break event. Wrap around mortgage  is a creative financing method/owner finacing. You will still have a lean on the property, if the buyer default on the aggreement to pay your mortgage, you can foreclose on the property and get your house back and the investor will loose alll the money they put in to pay your mortgage.You can also negotiate with the bank to do a short sale if you are going underwater, otherwise this deal should keep your head above water.The investor is running the numbers to see if they will make some money on the deal before they can proceed on the deal.Lack of understanding can sometimes scare ones taught process. For Ofe and Tesa as real agents you should have some idea of creative financing (wrap around mortgage etc) and not not scared the hell out the poor guy saying it's a scam without explaining how? I am an ordinary joe teaching myself to learn the language of real estate investment and financial investment hence this advice is not an expert advice. I
September 24 2013
(0)