Real Estate Note Investing: Using Mortgage Notes to Passively and Massively Increase Your Income by Dave Van Horn
(New York: BiggerPockets, 2018), 201
Notes from Adam Pasternack:
- This book is great...a walk through of how you can monitize 7+ areas in the overall real estate lifecycle from property acquisition to exit
- When you're making an offer on the property you should give people 3 options
- a full cash offer that's low, maybe 65% of the retail value
- another offer that might be 80% of retail but you have the seller finance 20% themselves with a 5 year interest only loan that you pay the full chunk back after 5 years and get the bank mortgage to cover the rest
- close to what they're asking for but they will fully finance it for you amortized over 30 years but you can say you'll give them the remaining balance at 10 years that way you can refi out the money or sell the property
- All these ways are good for you as the investor but can give them the feeling of choice and then also one might fit their situation better than others