Posted by Michael Morrongiello on May 04, 2000 at 23:12:43:
Damaged credit is like a muddy mountain stream, that became muddy when you stepped into it and shuffled your feet mucking up the muddy bottom… the funny thing is that once you step out of the stream over time it will eventually run clear again. This takes TIME…
You can still put together deals where notes are involved where you assist motivated sellers to sell their property by showing them how to sell efficiently and fast using owner financing as a marketing technique. Upon the sale of the property and the newly created note you collect a brokerage fee for its sale.
Under this scenario YOUR credit does not enter into the picture since you are using your knowledge to be a “deal maker” and would not be the payor on note itself.