Posted by Ed Garcia on January 17, 2000 at 12:46:24:
John,
I’m sorry, you’re right, today were closed.
However, there is no rest for the weary, I’ll be in my office in an hour.
That’s about 11:45 am California time. Feel free to call me John.
Ed Garcia
How do I finance and structure deal? - Posted by John Reynolds
Posted by John Reynolds on January 17, 2000 at 11:00:21:
Famliy came to me asking for help, they are three months late on house payment, because of tornado destory the fathers place of employment, and mortgage company threatening to take home back. Father has been out of work for 6 months. Mother just finished LPN school and is just now employed, father is going back to school to retrain. Deal, they are willing to sell house for balance on first $34,358.56, house had a market value of $54,000 before family added a 5th bedroom, do not have a current appraisal. They are then willing to re-purchase home at higher price. How do I structrue this deal and where do I get the financing for a no money out of pocket deal on my part. This sounds like a great opportunity and would welcome any partner. Help
Re: How do I finance and structure deal? - Posted by Ed Garcia
Posted by Ed Garcia on January 17, 2000 at 11:13:43:
John:
I’d like to help you, but you haven’t given me enough information.
Although you have explained the reasons that this deal has fallen into your lap.
You haven’t told us anything about the borrower, YOU.
My head is running wild with idea’s to do this deal. But rather than give you
A hypothetical answer, not know all the facts. Why don’t you just call me at
(909) 944-0199 and I will help you do your deal.
Ed Garcia
Re: How do I finance and structure deal? - Posted by JPiper
Posted by JPiper on January 17, 2000 at 22:09:49:
Pardon my intrusion…I would hate to interfere with one of those wild ideas running through your head. But frankly, what does John need a lender for? Why not just take title subject to the loan?
Have a nice day Ed.
JPiper
Re: How do I finance and structure deal? - Posted by John
Posted by John on January 17, 2000 at 11:23:12:
Ed I called as you requested, got a answering machine left my name and phone number. Must be the holiday?
Re: How do I finance and structure deal? - Posted by ED Garcia
Posted by ED Garcia on January 17, 2000 at 23:11:29:
Piper,
You are soooo bad. But your right.
And that’s exactly what I recommended to John. The reason I wanted John to call me was
to find out all of the circumstances of the deal. there was more involved than this, but you
are RIGHT.
Jim, tell me something. Have you done this before?
(smile)
Ed Garcia