Home › Forums › Closed Forums › Buying and Selling RE › Can Someone Explain This Hilltop Group Thingy?
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June 6, 2008 at 4:32 PM #218616June 6, 2008 at 4:32 PM #218731AnonymousGuest
Let me just answer your main objection/point – maintenance costs. The ideal play with these properties (in my opinion) is to re-sell immediately by way of land contract for $500 a month. (we handle this for you for 10% a month – about $50) The contract buyer is responsible for repairs, taxes, et al.
Do you think there are thousands of buyers out there who can’t get a loan any other way in this ridiculous credit market? I don’t mean a serial deadbeat, but instead a young couple with a baby who may both work at Wal Mart or McDonalds? Or maybe someone who just lost their house in the same neighborhood because the payment went from $700 to $1700? This is my point about the socially redeeming quality of the deal. Consider that you write a 10% note, $500 a month, = a note face value of $51,000. After those payments have been made for 6 months or a year, you can sell the note at a discount. 75% of 51k = around 38k. Add the $500 month cash flow you have made along the way and you get back $40k for your $30k investment.
We understand REIT’s, and mutual funds etc. Again, these are not for everyone – but they are a good option in a diverse portfolio. Creative? Yes. Guaranteed? No. In this market, guaranteed investments pay about 2%. The plan I just showed you pays about 33%.Richard Worcester
Phone – 760.809.4666June 6, 2008 at 4:32 PM #218715AnonymousGuestLet me just answer your main objection/point – maintenance costs. The ideal play with these properties (in my opinion) is to re-sell immediately by way of land contract for $500 a month. (we handle this for you for 10% a month – about $50) The contract buyer is responsible for repairs, taxes, et al.
Do you think there are thousands of buyers out there who can’t get a loan any other way in this ridiculous credit market? I don’t mean a serial deadbeat, but instead a young couple with a baby who may both work at Wal Mart or McDonalds? Or maybe someone who just lost their house in the same neighborhood because the payment went from $700 to $1700? This is my point about the socially redeeming quality of the deal. Consider that you write a 10% note, $500 a month, = a note face value of $51,000. After those payments have been made for 6 months or a year, you can sell the note at a discount. 75% of 51k = around 38k. Add the $500 month cash flow you have made along the way and you get back $40k for your $30k investment.
We understand REIT’s, and mutual funds etc. Again, these are not for everyone – but they are a good option in a diverse portfolio. Creative? Yes. Guaranteed? No. In this market, guaranteed investments pay about 2%. The plan I just showed you pays about 33%.Richard Worcester
Phone – 760.809.4666June 6, 2008 at 4:32 PM #218764AnonymousGuestLet me just answer your main objection/point – maintenance costs. The ideal play with these properties (in my opinion) is to re-sell immediately by way of land contract for $500 a month. (we handle this for you for 10% a month – about $50) The contract buyer is responsible for repairs, taxes, et al.
Do you think there are thousands of buyers out there who can’t get a loan any other way in this ridiculous credit market? I don’t mean a serial deadbeat, but instead a young couple with a baby who may both work at Wal Mart or McDonalds? Or maybe someone who just lost their house in the same neighborhood because the payment went from $700 to $1700? This is my point about the socially redeeming quality of the deal. Consider that you write a 10% note, $500 a month, = a note face value of $51,000. After those payments have been made for 6 months or a year, you can sell the note at a discount. 75% of 51k = around 38k. Add the $500 month cash flow you have made along the way and you get back $40k for your $30k investment.
We understand REIT’s, and mutual funds etc. Again, these are not for everyone – but they are a good option in a diverse portfolio. Creative? Yes. Guaranteed? No. In this market, guaranteed investments pay about 2%. The plan I just showed you pays about 33%.Richard Worcester
Phone – 760.809.4666June 6, 2008 at 4:32 PM #218621AnonymousGuestLet me just answer your main objection/point – maintenance costs. The ideal play with these properties (in my opinion) is to re-sell immediately by way of land contract for $500 a month. (we handle this for you for 10% a month – about $50) The contract buyer is responsible for repairs, taxes, et al.
Do you think there are thousands of buyers out there who can’t get a loan any other way in this ridiculous credit market? I don’t mean a serial deadbeat, but instead a young couple with a baby who may both work at Wal Mart or McDonalds? Or maybe someone who just lost their house in the same neighborhood because the payment went from $700 to $1700? This is my point about the socially redeeming quality of the deal. Consider that you write a 10% note, $500 a month, = a note face value of $51,000. After those payments have been made for 6 months or a year, you can sell the note at a discount. 75% of 51k = around 38k. Add the $500 month cash flow you have made along the way and you get back $40k for your $30k investment.
We understand REIT’s, and mutual funds etc. Again, these are not for everyone – but they are a good option in a diverse portfolio. Creative? Yes. Guaranteed? No. In this market, guaranteed investments pay about 2%. The plan I just showed you pays about 33%.Richard Worcester
Phone – 760.809.4666June 6, 2008 at 4:32 PM #218783AnonymousGuestLet me just answer your main objection/point – maintenance costs. The ideal play with these properties (in my opinion) is to re-sell immediately by way of land contract for $500 a month. (we handle this for you for 10% a month – about $50) The contract buyer is responsible for repairs, taxes, et al.
Do you think there are thousands of buyers out there who can’t get a loan any other way in this ridiculous credit market? I don’t mean a serial deadbeat, but instead a young couple with a baby who may both work at Wal Mart or McDonalds? Or maybe someone who just lost their house in the same neighborhood because the payment went from $700 to $1700? This is my point about the socially redeeming quality of the deal. Consider that you write a 10% note, $500 a month, = a note face value of $51,000. After those payments have been made for 6 months or a year, you can sell the note at a discount. 75% of 51k = around 38k. Add the $500 month cash flow you have made along the way and you get back $40k for your $30k investment.
We understand REIT’s, and mutual funds etc. Again, these are not for everyone – but they are a good option in a diverse portfolio. Creative? Yes. Guaranteed? No. In this market, guaranteed investments pay about 2%. The plan I just showed you pays about 33%.Richard Worcester
Phone – 760.809.4666June 6, 2008 at 4:57 PM #218719sdrealtorParticipantThis may sound like a stupid question but do you own any real estate in SD County? I couldnt find you name on any as the owner. A 2nd stupid question. Why does the address of your business show up in the tax records as a 1200 sq ft mobil home, errrr manufactured home. Is that for a quick exit?
June 6, 2008 at 4:57 PM #218737sdrealtorParticipantThis may sound like a stupid question but do you own any real estate in SD County? I couldnt find you name on any as the owner. A 2nd stupid question. Why does the address of your business show up in the tax records as a 1200 sq ft mobil home, errrr manufactured home. Is that for a quick exit?
June 6, 2008 at 4:57 PM #218628sdrealtorParticipantThis may sound like a stupid question but do you own any real estate in SD County? I couldnt find you name on any as the owner. A 2nd stupid question. Why does the address of your business show up in the tax records as a 1200 sq ft mobil home, errrr manufactured home. Is that for a quick exit?
June 6, 2008 at 4:57 PM #218770sdrealtorParticipantThis may sound like a stupid question but do you own any real estate in SD County? I couldnt find you name on any as the owner. A 2nd stupid question. Why does the address of your business show up in the tax records as a 1200 sq ft mobil home, errrr manufactured home. Is that for a quick exit?
June 6, 2008 at 4:57 PM #218790sdrealtorParticipantThis may sound like a stupid question but do you own any real estate in SD County? I couldnt find you name on any as the owner. A 2nd stupid question. Why does the address of your business show up in the tax records as a 1200 sq ft mobil home, errrr manufactured home. Is that for a quick exit?
June 7, 2008 at 12:14 AM #218880AnonymousGuestThat is o.k. – Glad to see you do due diligence. I do own 5 properties in CA, and 7 more across the country, all in trust(s). You can scour county records if you like or just call me and I’ll tell you about them.
The address you are referring to is where I live. Be careful what you say there, my family and I are very happy here.
To save you the time of going to the DRE, I have been a realtor, let my license expire, done it again, and let my license expire again – 3 times in 25 years. Just can’t get the hang of floor time…
My father, brother, and son are all decorated war veterans. I spent 6 years of my life in the Navy and 10 years in the Skunk Works at Lockheed in Burbank, and I will defend your right to say anything you want about me, Hillary Clinton or anyone else.
Just try and keep it clean.June 7, 2008 at 12:14 AM #218808AnonymousGuestThat is o.k. – Glad to see you do due diligence. I do own 5 properties in CA, and 7 more across the country, all in trust(s). You can scour county records if you like or just call me and I’ll tell you about them.
The address you are referring to is where I live. Be careful what you say there, my family and I are very happy here.
To save you the time of going to the DRE, I have been a realtor, let my license expire, done it again, and let my license expire again – 3 times in 25 years. Just can’t get the hang of floor time…
My father, brother, and son are all decorated war veterans. I spent 6 years of my life in the Navy and 10 years in the Skunk Works at Lockheed in Burbank, and I will defend your right to say anything you want about me, Hillary Clinton or anyone else.
Just try and keep it clean.June 7, 2008 at 12:14 AM #218858AnonymousGuestThat is o.k. – Glad to see you do due diligence. I do own 5 properties in CA, and 7 more across the country, all in trust(s). You can scour county records if you like or just call me and I’ll tell you about them.
The address you are referring to is where I live. Be careful what you say there, my family and I are very happy here.
To save you the time of going to the DRE, I have been a realtor, let my license expire, done it again, and let my license expire again – 3 times in 25 years. Just can’t get the hang of floor time…
My father, brother, and son are all decorated war veterans. I spent 6 years of my life in the Navy and 10 years in the Skunk Works at Lockheed in Burbank, and I will defend your right to say anything you want about me, Hillary Clinton or anyone else.
Just try and keep it clean.June 7, 2008 at 12:14 AM #218716AnonymousGuestThat is o.k. – Glad to see you do due diligence. I do own 5 properties in CA, and 7 more across the country, all in trust(s). You can scour county records if you like or just call me and I’ll tell you about them.
The address you are referring to is where I live. Be careful what you say there, my family and I are very happy here.
To save you the time of going to the DRE, I have been a realtor, let my license expire, done it again, and let my license expire again – 3 times in 25 years. Just can’t get the hang of floor time…
My father, brother, and son are all decorated war veterans. I spent 6 years of my life in the Navy and 10 years in the Skunk Works at Lockheed in Burbank, and I will defend your right to say anything you want about me, Hillary Clinton or anyone else.
Just try and keep it clean. -
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