OWNER WILL CARRY
BY JACK MILLER
HOW TO SQUEEZE PROFITS
OUT OF EVERY DEAL
HOW TO SQUEEZE PROFITS OUT OF EVERY DEAL BY CONTROLLING THE TERMS.
John and Jane Doe have arrived back at the model home, accompanied by Harry Hustler,
their personal sales representative. With a sigh of satisfaction, they sign the purchase agreement.
In just a few short weeks they will be the proud possessors of a new home.
Financing? Not to worry. Harry and his firm will take care of the necessary details.
All John and Jane need do is to sign a few papers at settlement,
and their new house is theirs to move into. However......
The above scene is re-enacted hundreds of times a week all across the country. Most of the people who buy houses have little contact with financial institutions. The details of the mortgages and trust deeds are left to escrow companies, attorneys, real estate brokers. Housing consumers have only dim perceptions of the primary and secondary mortgage market. They don't really understand the effects of disintermediation on their qualifying for a new long term mortgage loan.
Many times, especially when mortgage money is "tight", they are outraged at being disqualified for a loan; or at being required to pay as much as 25% down; or at having to pay 7 "points" at closing when the original application specified 3 points; or at having the interest rate jump a full percentage point, with the loan pay-back term being reduced to 25 years.
Any or all the above manifestations of the tight money market were prevalent in the past, and could come back in the near future. The key is to be ready for them when they come, and to find ways to keep on keeping on as an entrepreneur, whether acting as a long term investor, a wheeler-dealer, a fixer upper specialist, a buyer or a seller.
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Table of Contents:
Designer Debt Transactions
Understanding and Using Real Estate Notes
Increasing Security to Increase Safety of Notes
Mortgages and Deeds of Trust
Using Notes and Mortgages to Divide Risk and Profit
Wrap Around Financing Concepts
Using Wrap-Around Notes And Mortgages
Wrap Around Note Language
Contrasting Wrap Around Mortgages and Contracts
Convertible Demand Wrap Around Note
Getting Around the Due On Sale Clause
Controlling Notes and Mortgages
Sample Comprehensive Note Language
Free-Form Finance Formulas
Substitution of Collateral
Discount Buy-Back Options
Building Profits on Vacant Land
Buy Now, Pay Later
Optioning With Tax Receipts
Trading Ideas for Property
Pyramiding Equity and Cash Flow
Trading a Discounted Lease for A House Equity
Trading Assets Down to Raise Equity
Creative Buying and Selling Applications
Shared Appreciation Financing
Financing Fixer-Upper. Buying and Selling with Nothing Down Terms
Buying So You Can Sell
Single Payment Note Financing
Negotiating Zero Interest Rate Financing
Buy High, Sell Low Profits
Sandwich Buy-Sell Spread Profits
Guaranteed Sales Programs
Stocks - Real Estate - Tax Flow Combinations
Moving Discounts From Paper to Equity
Buying With Zero Coupon Bonds
Leasing Tactics and Strategies
Leasing Cash Flow Sandwich Techniques
Leveraging Land Leases
Leasing for the Down Payment
Mobile Home Leasing Strategies
Fast Write-Down Leaseholds
Builders' Model-Home Bailout
Using Paper to Build Equity and Wealth
Wraps /vs/ Due On Sale Loan Assumption
Using Corporate Debentures as Currency
Changing the Shape of Payments to Change Yields
Converting Compound into Simple Interest
Optioning Discounted Notes
Buying With Discounted Paper
Take the Money and Run
What's It All About Alfie?