Who is Dean Graziosi?Dean Graziosi has been investing in real estate and teaching thousands how to do the same for over 20 years! Learn About Dean Graziosi!
Are People Actually Successful?Yes, our students have had amazing successes! Seeing is believing, so watch some of the amazing stories collected over the years.
Does Dean Practice What He Preaches?Yes, unlike most "experts" teaching real estate investing Dean is an active investor buying up to 100 properties a month. See the fully documented list of deals for yourself!
What Deals Are The Students Doing Right Now?Students who are active on this site often post successes they have had and document the process. Check out all of the latest deals posted!
Hi Everyone,
This is my first Forum, I've been investing in real estate full time for over a year now. One of the strategies I was using was to buy ugly properties, fix them up, refinance and pull my original investment plus cash back out at close. Properties are only leveraged at 65-70% LTV. This worked for a while, but with all that's going on in the mortgage industry it's really difficult to qualify anymore. Especially after you have mortgages on several Properties. I've also tried to get financing on them through my LLC, but the banks are pretty stingy right now and I havn't found any that will lend to a LLC owned property.
The other day I heard of a the strategy of creating and selling notes on your properties with private lenders. If I understand it correctly you basically create a promissary note, with the property as security for the note. Then Secure your private lender with a lien against the property. It sounds almost like the buying with a private lender in the first place.
Is there anyone out the that has experience with this technique? I havn't tried it yet , but I'm looking to use this strategy on 3 properties I own outright and don't want to mess up. It sounds like a pretty good strategy to use if your planning on holding properties or have some free and clears that you want to pull money out of. Any help would be appreciated.
Thanks, WyldBill