It’s not difficult to enter the note business, it’s just complex but when you are using a third-party servicer it makes everything a lot easier.
Need to know more? Watch this short video now and let Jay take your real estate business to the next level.
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:
So you’re buying it, say with creative financing, you bought it subject to the existing note, or it was free and clear and you bought it from a note. Now you’re going to sell it at a higher amount than you bought it for work. That become the difference between what you bought it for is going to make up the difference by that junior mortgage. When somebody is brand new in the real estate investor, it can be like: “How in the world do I keep up with all that? I got this money going out and I got this money coming in. How in the world do I create an amortization schedule? How do I even get started?” That’s a lot of moving parts going on right there.
Nick Legamaro:
I always say, it’s not difficult, Jay, it’s just complex. There’s a lot of them in part. The good thing about it is that I don’t do all that myself either. That’s why we use an RMO low, which isn’t a residential mortgage loan originator that helps take the wrap buyer’s information. Pulls their credit and make sure they’re who they say they are. Make sure they can afford to make that payment. When we create that wrap mortgage, we send that to a third-party servicing company. A lot of people that have had bank loans in the past with a mortgage, they may have seen this where it goes from bank of America to some other entity they’re not familiar with. That’s probably a servicer and the servicer manage everything.
They manage the collection of the payment from the wrap borrower. Let’s just say it’s $100,000 a month and let’s say that Bank of America gets $700 of that. Let’s say there’s taxes and insurance, the servicer will hold that in escrow, which is extremely valuable so you’re not chasing all that stuff down. The difference between those three pieces is the money that goes into my bank account because I’m the bank in that situation. I get that set up and there’s a backend lender portal. The beauty of all of this Jay, is that, although it’s not difficult, it’s complex. Everything that we talked about can be done through outsourcing and leverage of third parties. That’s the beauty of it, whether it be the title company or the attorney, the servicer, the RMLO, all of that. That’s what makes this thing so attractive. At least it does to me.
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