I am having a hard time figuring out how to repay my rehab costs within the expected Principal and Interest received from the Wrap Borrower’s payment. Maybe I’m trying to pay it off too quickly or with too high of interest.* What are your expectations, interest and time, to pay off a second lien note for rehab? Do you have your servicing company pay the rehab note along with the bank payment or do you pay the rehab note from your bank account after you receive the Principal and Interest of the Wrap?
I have a home I’m getting ready to purchase subject to and I have the money to make it happen. Can I send it to you at JVwithme as a practice property or is that a waste of time?
Selling on a wrap, and buyer doesn’t want to deal with the paperwork of RMLO. Is willing to have brother buy “as an investment property” Signing a Affidavit, bypassing RMLO. Thoughts?
If I’m hearing you right about the as-is deals, are you worried about Mitch Stephens and his students, then? Not sure I understood you. I did remember his saying he leaves his as-is.
Ran into a guy who says he knows and has done business with you at a REI meet-up a couple of weeks back. (Name available upon request — didn’t ask me not to reveal.) Anyway, this guy said that he and a number of other seller-finance investors are planning to stop using August REI for loan servicing going forward. Any opinion on that?