ownerwillcarry
01-12-2005, 04:43 PM
Hello All,
My knowledge of Real Estate and how to put deals together is very limited, but I would like to learn and move into the field of Investing. I am an Internet marketer and an aspiring Note Broker. I put together a Real Estate classified website that gets quite a bit of traffic, thus I get a lot of questions that are over my head so I’m seeking some advice here. I get the following types of inquires quite often across my desk and I’m not quite sure what to make of them (or how to handle them).
“Ed” is holding a Note with the following details:
Original Selling Price: $65,000
Down Payment: $3,250.00
Original Note Balance: $64,000
Months / Years Financed: 3
Interest Rate: 7
Monthly Payment: $670
Balloon: No
Owner Occupied: No
Underlying Balance: No
Credit of Payor: Bad
Property Type: Duplex/Four-plex
Type of Contract: Deed of Trust
Title Policy: Yes
Property Description and Location / Comments: This is non-owner occupied duplex. I have fallen behind on the payments and I am in danger of foreclosure. The home has appraised at $81,000. I am willing to whatever it takes to sale this property. Please call Ed at xxx.xxx.xxxx with any help to resolve this issue.
Somehow I know that there is a possibility to make money off deals similar to these…I just don’t know how. Any help would be appreciated.
Thanks,
Greg
My knowledge of Real Estate and how to put deals together is very limited, but I would like to learn and move into the field of Investing. I am an Internet marketer and an aspiring Note Broker. I put together a Real Estate classified website that gets quite a bit of traffic, thus I get a lot of questions that are over my head so I’m seeking some advice here. I get the following types of inquires quite often across my desk and I’m not quite sure what to make of them (or how to handle them).
“Ed” is holding a Note with the following details:
Original Selling Price: $65,000
Down Payment: $3,250.00
Original Note Balance: $64,000
Months / Years Financed: 3
Interest Rate: 7
Monthly Payment: $670
Balloon: No
Owner Occupied: No
Underlying Balance: No
Credit of Payor: Bad
Property Type: Duplex/Four-plex
Type of Contract: Deed of Trust
Title Policy: Yes
Property Description and Location / Comments: This is non-owner occupied duplex. I have fallen behind on the payments and I am in danger of foreclosure. The home has appraised at $81,000. I am willing to whatever it takes to sale this property. Please call Ed at xxx.xxx.xxxx with any help to resolve this issue.
Somehow I know that there is a possibility to make money off deals similar to these…I just don’t know how. Any help would be appreciated.
Thanks,
Greg