Real Estate Investment Training - Real Estate Investors
When Getting Owner Financing; Ask For First Right Of Refusal If Mortgage Is Sold - Street Smart Cash Flow Accelerator #16
Apr 21 2019
Today's tip is number 16 now these are all buying tips that I've been given through this series and this one is when getting owner financing asked for first writer refusal if the mortgage is sold. So one of my favorite ways to buy property is to have the seller be the bank. Write that down. The seller is the bank. Now when the seller is the bank, it's a really cool thing because of course you had didn't have to go to the bank, you didn't have to qualify for a loan, you saved all the points, you saved the closing costs, you save all of the pain and suffering of qualifying for that loan in the first place. Very, very powerful thing to master.
And I mastered owner financing decades ago and I share with my clients how to do that as share that with my students, how to create an amazing business without going to banks and without qualifying for loans. It's one of my favorite ways to buy properties. Well, when you get a seller to carry back financing, then they're getting a mortgage and and you're paying a note to that seller. Well, that has value and they could sell that to somebody else if they were to sell it to somebody else. If it has a clause in there that says the payor that's you gets a first right of refusal to purchase that note, because many times when those notes are sold, they're sold at a discount, so why not you receive that discount? Now, if you've got the funds to do it, great, you go ahead and buy the note.
If you don't have the funds to do it, great. Let them sell it to somebody else and you keep on making your payments just like you agreed to do. I hope you love that tip. I hope this will help you. Hope it will make it a lot of money. I know it has me. I'd love to share with you more profitable free tips and how can you get more you simply depending on where this you see this, please like it.
101 Street Smart Cash Flow Accelerators
Lou Brown has been buying, selling and holding property for 40 years and you are about to discover what a lot of so called gurus are missing.
* How to buy all the property you want without ever visiting a single bank or needing to qualify for a loan…
* How to have a buyer or renter before you even buy property…
* How to have them already pay you money before you sold them anything…
These are exactly the kinds of deals he does day in and day out. Most 'investors' are getting it wrong. It's not about the property, it's about the buyer. Buying right and buying cheap is what you'll do after you have the buyer.
Real Estate investors in all fifty states across Canada and fifteen foreign countries including as far away as Australia and New Zealand, have long regarded the training, systems and forms created by Louis Brown as the best in the industry, Quoted as an expert by many publications and authors, “Lou” draws from a wide and varied background as a real estate investor having been buying property since 1976.
He's invested in single-family homes, apartments, hotels, developed subdivisions and built and renovated homes and apartments. Each of these experiences has given him a proving ground for the most cutting edge concepts in real estate today. He's widely known as a creative financing genius with his deal structuring concepts.
Being a teacher at heart he enjoys sharing his discoveries with others. He has served the industry in many volunteer positions such as past President and designated lifetime member of the Georgia Real Estate Investors Association, the world's largest real estate investor group.
He is also founding President of the National Real Estate Investors Association, which serves as the umbrella association of local investor groups.
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