Posted by Robert Ramey on January 18, 2001 at 14:02:45:
I will only respond with just a few words regarding
your comments of the note business. You simply do not
know what you are saying. Or, you know what you are saying, but you simply want to give the note business a bad rap for whatever illogical reasons you may have. Which is it Mark?
John Alexander’s Beacon Program… - Posted by Glen
Posted by Glen on October 29, 2000 at 18:21:52:
Hi,
This is a great site and an amazing forum. I recently responded to an ad in USA Today about real-estate investing. It led me to a website featuring John Alexander. Here’s my understanding of his pitch: You go contract a property from a motivated seller, you then find a buyer by offering owner finacning. The kicker is that the company will buy the created note thereby netting the seller his fair market value (or pretty close to it) and relieving the seller from carrying the note. i.e. Seller gets cashed out. Buyer gets moved in without a bank. And investor gets nice profit, say 50% of a 5K downpayment on a 100K house. I believe this is done with a simultaneous close. Okay… does anyone have any opinions about this or, better yet, experience with it? I don’t know nuttin’ more about it and I come from a state that spells potato with an ‘e’. Thanks!
Re: John Alexander’s Beacon Program… - Posted by Mark-NC
Posted by Mark-NC on November 01, 2000 at 16:38:22:
Glen,
The concept of thier program sounds good. About a year or more ago or more it was a viable way to make some money doing this.
Here’s the problem. The Notes that are being purchased buy The Beacon Program and all the other Note buyers out there have come under scrutiney by the end buyers of the notes. So that means, what you could do a year ago is not as easy as it is now. What I am getting at is you can find mortgage products that a buyer can Qualify for easier than you can with a Note product.
I know this from personal experiance.
Mark