Posted by dealmaker on July 20, 2007 at 17:52:03:
I can’t speak to the quality or lack thereof of his course. However, I receive approximately 20-25 postcards and letters per week from people who have taken his, or similar courses!!!
Here’s a few things that I firmly believe:
- People who have accumulated enough capital to be able to sell on seller finance, are generally sharp enough to consider all ramifications of that action.
2.If you tell them that they can carry a $100K note, and then sell it quickly, they are likely to consult with their accountant and find out that they’re not likely to receive par value for it.
- Some people in that situation, do often find themselves in a position where they have to sell. Again, generally they’re sharp enough to realize pretty quickly that they’re dealing with a “broker” instead of a principle. Once that happens they’re likely to “shop around” for a better deal.
I’m not saying it doesn’t happen, I’ve bought a few notes in my day. It was more common when sellers could carry a second for the equity between FMV and the balance of their FULLY ASSUMABLE (VA or FHA) first.
Quite often those people were not financially savvy and I was able to profit handosomely.
I’ve been receiving postcards like this for close to 20 years. I’ve originated or purchased close to $2MM (face value) of first and second loans. I’ve NEVER sold one!