Questions about converting paper into cash - Posted by Alan Wodke

Real Estate Investing
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Posted by Michael Morrongiello on May 04, 2000 at 23:12:43:

Alan:
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.

Michael Morrongiello

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Questions about converting paper into cash - Posted by Alan Wodke

Posted by Alan Wodke on May 04, 2000 at 21:18:45:

I have terrible credit, however, I am working on getting my credit repaired, and I am approaching my credit problem with a positive attitude to get it repaired. In the meantime, I still have a terrible credit report. I want to get started into real estate investing in the near future.

Can I still convert paper into cash even with my terrible credit problems?

Can anybody give me an example of a possible scenario on how the seller and I could walk out of the closing of a property with cash in my pocket as well as the sellers ? (remember I have bad credit).

I would appreciate any helpful advice.

Thanks Alan