Christen Reinke – How to Avoid the 10 Biggest Mistakes When Owner Financing Real Estate

Christen Reinke – How to Avoid the 10 Biggest Mistakes When Owner Financing Real Estate

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• Publisher:Todd Communications (1 Sept. 1998)
• Language:English
• ISBN-10:1578330378
• ISBN-13:978-1578330379

Learn What No One Tells You About Owner Financing Real Estate – Especially Your Realtor! If you’d like to discover the best kept secrets of lenders, pension firms, real estate investors, and professional note buyers, this book is for you. You won’t find this information anywhere else and here’s why: Real estate attorneys and real estate agents are not taught this information in real estate school or by their licensing real estate commission. THEY don’t even know this information, and yet are PAID to provide you counsel when it comes selling your home and carrying back the financing. No one, other than professional investors and note buyers, are aware of how to safely structure an owner financed transaction. And until now, no one has written this information down for us “mom and pop” home sellers. The information below comes from the private notebook of Christen Reinke, the owner of a mortgage purchasing and commercial brokerage firm. Christen has spent the last five years recording the mistakes of her clients – mistakes that in some cases, cost them their life savings/investment! Since she is independent from Realtors, title companies, and attorneys, she is loyal to you and I – it makes no difference to her whether you choose to sell your home with owner financing or not. But if you do – you can at least do it without being at the mercy of realtors In This Book You Will Learn How To Never Sell To The Wrong Person (What every Realtor, Attorney, FSBO, and Lender should know…) * Two things you must do so you never sell to the wrong person. * What to look for in credit reports on your prospective purchaser and what to do if your buyers credit is poor. * Which types of credit blemishes you can overlook, and which ones NEVER to overlook. * Why purchasing the right type of title insurance can save you from losing your investment. Think an owners policy is all you need? Think again! * What is LTV and why it is the single most important thing for you to consider. * How “property type” and “occupancy” can ultimately determine the resale value of your note – how to screen for the right buyer before you sell. Insider Secrets To Understanding Owner Financing – Key Ingredients of Your Note * The #1 variable that will determine how much your note is worth. * What to do each year so you never risk losing your collateral to the local taxing office. * Discover the hidden truth about junior position liens, including techniques that show you how to minimize your risk – DO NOT trust your Realtor on this one!!!! * Tips on how to handle down payments, terms of your note, and added clauses to help you. * How to handle taxes and insurance. * Due-on-sale clauses, assumptions, wraps, and more. * Why professional servicing of your note could hurt you. * Two easy, annual techniques you must do every year! * Why and how dramatic changes regarding the secondary mortgage markets affect you and your note. * How to capitalize on these changes to put more money in your pocket at closing and in years to come. * Your options in case of default, clearly explained in layman’s terms. Techniques To Protect Your Investment Who hasn’t heard countless horror stories about owner financing? Once you create a note and have it properly signed and recorded, there’s no going back. You cannot make changes to the terms of the note, you cannot add protective clauses into the security instrument, you cannot make ANY change without the signed consent of the payers (buyers of the property). If they refuse to agree to the changes you want, you’re out of luck. Are you going control the market value of your note, or be a victim of your own ignorance? You’ll be sitting on a valuable cash flow when you know… * How to handle late payments and what not to do that could cause you to lose everything. * How to declare default – the right way.