Posted by R.Barr on December 22, 2000 at 09:45:13:
There are several companies out there. MidWestNotes,Sunvest,Graystone ect. You just have to look for them.
Are There any other Table Funding Programs Besides - Posted by jon brown
Posted by jon brown on December 22, 2000 at 02:48:23:
Greystone’s? I know that the tabel funding area has dry up somewhat with a lot of the major note fuders not even doing table funding for the most part.
Greystone’s has a great program but I know that they can’t be the only game in town.
Graystone’s seems that no company can beat there program or even come close(they offer 80LTV with 550 Score, 85 with a 600+ and 90LTV on 650 with all notes being cashed out at 95%
jon
The Proof is in the Pudding… - Posted by Michael Morrongiello
Posted by Michael Morrongiello on December 22, 2000 at 14:47:49:
Jon:
There are numerous note funders (our firm purchases as a principle) that will purchase newly created seller financed paper (simulatneous closing’s)that is created as the result of the sale of real property.
Graystone or Greystone espouses doing “quick” flips, and suggests one can often create a note where the note seller / property seller isn’t even the current property owner. They enter into title for only a short period of time (sometimes for sheer minutes), and then Re-sell the property to a “retail” buyer using Seller financing to finance that sale. The sale of that “paper” generates the cash proceeds that are used to acquire the property from the actual owner.
Their concept has a lot of “Sizzle” associated with it that I’m almost certain attracts people to their courses, materials,promotional items, etc. ;
Limited or No cash of your own invested, quick profits, limited fuss, pass all of the risk to the paper buyer and limited risk to you, etc.
It certainly does sound appealing…
However, Just like the sub-prime lenders that now required a “seasoning of ownership” period of time to elaspe, this is an area where many note funders are NO longer willing to play ball.
A few note funders (we do) still are willing to allow for these types of transactions to take place (Providing it is equitable for all parties)if there are certain ground rules followed.
One problem I have seen over and over again in the note industry is that Often deals that are “quoted” never actually close at the pricing and terms indicated. Most real estate entrepeneurs want consistency, and accountability in their dealings with lenders, funders, facilitators, dealmakers, etc. - When a funder says they are going to do a deal, they want to feel confident its going to happen.
There are many “players” in the marketplace that can make your deals happen. Find out who they are and try to work with them. If they treat you right, then those relationships over the long term become invaluable.
To your success,
Michael Morrongiello
Sunvest Corp.