How do you make a real estate deal using a note?
Need to know the answer to this question? Watch this short video now to learn from Jay Conner and Nick Legamaro
Nick Legamaro a.k.a “Nick The Note Guy” has been investing in real estate since 2001. He has done just about everything there is to do in real estate. He even experienced the crash firsthand in 2008 and lived to talk about it!
He has bought, fixed, rented, sold, flipped, or been a lender on 1000+ properties. He has personally looked at over 10,000 deals. He has built companies for profit and recently sold one to a 100-year-old Federally Chartered BANK! He has done lots of “HEAVY LIFTING” but in moving forward I have made a HUGE shift!
This is where investing in Performing and NPL Real Estate Notes comes in. With his expertise and technology, he can “control” not “own” millions of dollars of assets nationwide. Now he is ready to show how you too can “Be the Bank” and invest in High Yield, Low Risk, Securitized Real Estate Mortgage Notes.
For more valuable information click on this link and watch the complete episode: https://youtu.be/NlD3O9B8rc0 – “Notes & Wholesale Deals With Nick Legamaro & Jay Conner”
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Jay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $64,000 per deal.
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Jay Conner:
First of all, let’s just make it really simple just to make sure everybody that is tuning in here to the podcast. When you say ‘you’re doing a deal by using a note,’ tell everybody what exactly does that mean.
Nick Legamaro:
There’s different ways to get to that point. If I’m going to create a note, for example, on a wholesale deal — this is what I’ve done many times. I’ll buy the house or I’ll control the house either with cash, hard money, seller, financing, then I’ll go out and fix the house or do some kind of rehab to it. Then, I create the finished product. Instead of selling it to a retail buyer, I sell it to a buyer that needs seller financing.
Jay Conner:
What’s that buyer looks like? Who needs seller financing?
Nick Legamaro:
Well, Jay, I’ll tell you this — a lot of people. I would say the best way I can explain it is two ways: First, I would tell somebody to go on Zillow, go into your market. I don’t care what market is anywhere in the United States, and search a county for houses for sale, and Zillow will give you 3000 houses. Go into that same search criteria, change the search criteria and look for number of houses that are offered with seller financing or owner financing. You do that same thing, that number goes down to maybe 15 or 20. So we’re talking supply and demand here and the number of houses that are available to be purchased on terms is extremely low. Fast forward, I think in your book, you talk about this. Matter of fact, not to plug the book, but it’s right here. It’s phenomenal and anybody that is here needs to get the book and read it regardless of what the cost is. Thank you for finally getting that on the market. I think you talked about it in the book. I think you said maybe up to some high number of 70% of the population can’t qualify for a traditional mortgage.
Jay Conner:
That’s right. Around 80% can’t go to the bank and get a mortgage.
Nick Legamaro:
So that’s where we are today. If you have a limited amount of supply in the model houses that are available, that the bought through seller financing and 80% of the population can’t qualify, that sounds like a good position to be in. If I’m controlling the deal.
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