|
|
STORE
|
Shopping Cart
|
| HOME | Cash Flow | Articles | Success Stories | Financing | Commercial | Mobile Homes | Legal | Real Estate Forum | Chat Room |
|
|
| CRE Online > Books and Courses > Working with Realtors® |
|
Working with Realtors®: Automatically Structure and Create Notes
by Jon Richards 
Price: CRE Online Price: $95.00 Delivery: Receive this product within 3 to 7 business days |
| |||||||||||||
|
Working with Realtors creates notes that give the seller the cash they need now, computes the terms of the buyer's mortgage, the Realtor's commission, and your commission. This software is indispensable if you wish to create notes at the point of purchase.
Modern note brokers are becoming very sophisticated at helping other professionals create notes at the point of purchase. This requires some technical knowledge which is made easy by using Working With Realtors. Using Working With Realtors you can use two very strong tools in the note broker's tool kit to help Realtors close more deals and generate more commission for yourself.
Your job, in working with a real estate professional, is to create a seller carry-back mortgage that can be totally or partially sold to an institutional note buyer. This sale generates the cash to pay the seller, and a commission to you, the note broker. As a note broker, you will need to know the sale price of the property, the maximum down payment the buyer can make, and the minimum amount of cash the seller needs. By "playing" with these numbers, and the interest rate on the note, the length of the property buyer's loan and the institution's yield requirements, you can create many note scenarios. Now you'll have the software to do it. When you have a note that meets the needs of the buyer of the property, the seller of the property, and the Realtor or other professional, Working With Realtors will write a letter to each person outlining the terms of the note and the cash each can expect at the close of escrow. A typical sale might look like this using Working With Realtors: A $100,000 property is offered with 10% cash down and a $90,000 note at 10% with a balloon in five years. You, as the note broker, sell part of the note to an institutional note buyer at a 12.5% yield. They buy all the payments and $40,000 of the $90,000 balloon for $54,816. You give $44,816 to the seller of the note and keep $10,000 for commissions. The seller ends up with $104,816 in the following manner:
You, the note seller, get a $10,000 commission. You might give the real estate broker a 6%, $6,000 commission and keep $4,000 for yourself as your commission. Working With Realtors will create a note that:
Working With Realtors will:
Shipping & Delivery | Customer Service | Company Info
|
|