[Dortheia Henderson]

Dortheia Henderson

Take care and fast healing.
Do they let you have a peach Bellini? “S”
Dee

[Dortheia Henderson]

Dortheia Henderson

4.75% fixed? New rehab with cash flow? I think that’s excellent. Just make sure you check everything out.

Check out the trusts for wrapping the note and resell it. Get a nice down and keep the cash flow for a while with their interest rate variable.
Maybe put a balloon of 5 years for them to refinance if you want to be cashed out. Some people just want the steady cash flow.

Check everything out and then GO for

Put a contract on it and then do the due diligence.

Good Luck!

[Dortheia Henderson]

Dortheia Henderson

A toast to Jackie, better than ever and on to Vegas.

[Dortheia Henderson]

Dortheia Henderson

A quick question Jackie.
Do you get a new appraisal before you start putting together your deal for your highest bidder sale?

I would think in this day in markets everything has changed when they first tried to sell the house.

Thanks,
Dee

[Dortheia Henderson]

Dortheia Henderson

Wow!! That’s going to be one sweet deal.
Thanks for thinking of us with the video. I can’t wait to see it.
Good luck
Dee

[Dortheia Henderson]

Dortheia Henderson

What is the answer? The Cap & Trade law, the new EPA law. Is there still a way to make money in Real Estate?
These two *laws* will destroy what business most of us have and how we find, fix, sell or keep.
Jackie you always have *a way*..I’m listening.

[Dortheia Henderson]

Dortheia Henderson

I would keep the deal between the buyers and your seller only.
Let the realtors take care of their part. That’s between their buyer and them.
If they want to bring a buyer they can work an outside percentage if they want the deal.
My two cents.

[Dortheia Henderson]

Dortheia Henderson

I use the TREC site for my contracts now. I thought you might have the addendums and contracts here at the depot to protect the investor.

[Dortheia Henderson]

Dortheia Henderson

Do you have any of those contracts for sale here?

A packet of all the best forms for Texas? Buy, Sell, Lease, Sub.2, etc….the whole enchilada?

[Dortheia Henderson]

Dortheia Henderson

Of course I like the idea of Arlington since it’s not far from me.
IF you use the same hotel…could there be a deal worked out for the attendees to get free wifi?
There’s hotels all around the Hilton that doesn’t charge for wifi.
Just a thought.
Dee-Texas

[Dortheia Henderson]

Dortheia Henderson

Do you have an attorney prepare all of your trust documents (Texas)?

I’ve tried to talk to my attorney and he’s just *pitching a fit* *lol* He’s not even trying to understand or learn.
I think I need the name of another attorney.

[Dortheia Henderson]

Dortheia Henderson

I’m so tired of Big Brother getting into my business!!

This SAFE ACT was signed in July of 2008 and this is the first I’ve heard of it. My attorney, banker, nor title company have said a thing; while I’ve wrapped loans.

This is the only thing that may save us……

The commercial context implied by the taking of an “application” is also absent where an individual seller provides financing to a buyer pursuant to the sale of the seller’s own residence. The frequency with which a particular seller provides financing is so limited that HUD’s view is that Congress did not intend to require such sellers to obtain loan originator licenses. Accordingly, state legislation that excludes from licensing and registration requirements an individual who offers or negotiates terms of a residential mortgage loan only to the buyer or prospective buyer of the seller’s residence will not be found to be out of compliance with the SAFE Act. The MSL includes this exclusion in section XX.XXX.040(3)(c).

C. Definition of “Dwelling”

The SAFE Act’s definition of “residential mortgage loan” includes a loan secured by a consensual security interest on a “dwelling” and cross-references the definition of dwelling in section 103(v) of the Truth in Lending Act (TILA) (15 U.S.C. 1601 note).

Regulation Z, which implements TILA, defines dwelling to mean “a residential structure that contains 1 to 4 units, whether or not that structure is attached to real property. The term includes an individual condominium unit, cooperative unit, mobile home, and trailer, if it is used as a residence.” (12 CFR 226.2(a)(19).) Since both the SAFE Act and TILA address consumer protections for borrowers in housing finance transactions, HUD finds that the same interpretation applies under the SAFE Act. In addition, HUD interprets “mobile home” to include a manufactured home, as defined in the National Manufactured Housing Construction and Safety Standards Act of 1974. (42 U.S.C. 5402(6).)

You MIGHT squeeze by since it says you can finance your own residence/dwelling….meaning you have the deed.

I think it might be a way to generate money like the mobile home license in Texas. A bunch of bull truthfully that helps no one except it generates money for the state.

There will be more and more..*filing cabinet loans* out there when this thing goes into effect. I know personally of 10 older people that still do contract for deed here in Texas and many many more that continue to advertise lease options and contract them as such. So…to say this will change everyone…..no….just the ones that play by the rules. Stupid as they are.

Frankly this is more bureaucratic bull…My two cents

Dee-Texas

[Dortheia Henderson]

Dortheia Henderson

I haven’t tried USDA in a while…thanks for the reminder.

I need a crash course on negoations with sellers that will owner finance.
In all these years I’ve only found 4 sellers that would owner finance. I still advertise every week, ads in newspapers, post cards, websites..but so far everyone is wanting way more than it’s worth to me. No cash flow.

Thanks to all
Dee-Texas

Sorry for the mis-spelled words..no spell check on the new mini computer yet.

[Dortheia Henderson]

Dortheia Henderson

That’s what I admire about you and the rest that own this site.

You’re honest enough to let all of us know that something didn’t work. Most just keep selling a lie long after they know it doesn’t work.

Kuddos to you and all here.

[Dortheia Henderson]

Dortheia Henderson

Before you turn it off. I would reword your ads. Letting everyone KNOW you WANT below market. Keep hammering at them… To make money in TODAY’S market the deal has to be below (whatever percentage you want to make the deal work) the market.

I would turn it off…just tweak it for another month.

Happy Thanksgiving.
D

[Dortheia Henderson]

Dortheia Henderson

I like #60.
I think the darker colors are easier to see and showcase the information better.

Dee-Texas

[Dortheia Henderson]

Dortheia Henderson

Thank you for answering.
The houses I have are all nice houses. Houses that I would have lived in when I was first starting out.

We remodel them, paint, flooring, kitchen and bath nice.

I guess I’m just fruastrated in that ** I ** never would just walk away from a debt. Now days it’s hard to understand the ones that do. I’m getting to where I don’t know the lies from the truth.

This last guy had repairable credit…I don’t sell to anyone that isn’t *close* to getting a loan.

I’m also deep in the heart of the oilfield and SOME of those people are a different type.

I hear what you are saying and thank you. I think I will start buying up!

[Dortheia Henderson]

Dortheia Henderson

I learned so much from the panel. Taking a deal and discussing with the audience the different ways a deal can work or not work is priceless in my opinion for real life business.

[Dortheia Henderson]

Dortheia Henderson

Does it need any repair? If it does that makes it a REALLY skinny deal.

I would tie it up with an option and then figure it out.

I’m thinking sell it to a first time home buyer with the $8K kickback OR
an auction to sell the property or auction for a large downpayment if you want to wrap it.

Does it have a fixed interest rate? If it DOESN’T I would do anything but try to sell.
My two cents, I’m sure you will get more ideas.,

The number one thing is KNOW your market before you buy.

Great $uccess,
Dee-Texas

[Dortheia Henderson]

Dortheia Henderson

Perfect thanks so much.
See you in Vegas!