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Cameron’s Blog

Lender Resale Restrictions

by Cameron 63 Comments

Lender Resale Restrictions

After you’ve had a chance to watch the video, please let me know what you’re thinking by posting a comment below.

Cam

PS. Here’s a somewhat cleaned up transcription of the video.

Hello, Cam Dunlap here, for a white board exercise today. What I want to talk to you about is Bank Resale Restrictions. There’s no doubt that there are a lot of bank foreclosures out there now, and some lenders have been for a long time, and others are just experimenting, and some are moving away from the concept of ” lender-resale restrictions”. What is common in the marketplace are 30- Day, then we’ve got 45-Day restrictions, in particular, on some short sales, I’m now seeing an occasional 60-Day, and in some cases even 90-Days. We’re going to talk about these restrictions, and we’re going to talk about how to get past them so that you can continue to do deals, make a ton of money, while we’re in the middle of this amazing foreclosure opportunity.
I see at least another couple of years before the inventory really starts to dwindle. In fact we’re starting to see more and more of the shadow inventory that lenders have started to release, so that is continuing the opportunity, elongating in terms of a time frame – the opportunity. Ok, so 30 days I’ve seen pretty typically on short sales, and also on some REO’s, 45’s the same, 60 is a little more unusual and 90 I’m starting to hear about Fannie Mae doing arbitrarily. They’re not doing it in every market, and on every house in every market, but they are putting some 90-day resale restrictions on their properties.
Now what that means to you and me, is they want to prevent us from re-selling properties quickly. If you read the fine print on the Fannie Mae resale restriction, you’ll notice that it says that you cannot resell it within 90 days as long as you are re-selling it for more than 120% of your purchase price. Now, what they’re basically doing is trying to tell you “Hey, if you’re making more than this much on it, well, we really would rather stick our finger in your eye. If you’re making less than this much on it, well, then we’re ok with it.” So what we have is a government organization, that is a known disaster area, and has been for years, run by idiots and crooks, now trying to tell us what we should be able to make, when we as Real Estate investors are helping them out of the jam that they’re in. Does that bother you like it bothers me? It makes me want to put my fist through the wall! It’s wrong, it’s un-American, it’s anti-capitalistic, it’s controlling, and it’s nothing but big government in our face, but we’re not going to get political in this conversation.
I’m just trying to put it in perspective and I’ve got some others too, some other perspectives.
So, let’s say you live in an expensive market where you are buying a Junker house for $100,000 and you plan to wholesale it. You’re not going to rehab it. You’re just going to turn around and flip it, as is, to another investor or rehabber or landlord type buyer. This is called “Wholesaling” by the way, So you have it under contract for 100k, you could sell it for as much as $119,999.00 and not be subject to that 90-Day resale restriction… read the fine print!
Now if you happen to live in a cheaper market, where you are buying a house for $15,000.00,120% of that is not a whole heck of a lot, although it’s still a $3,000 profit, which is nothing to sneeze at. But, if you’re buying it for $15,000.00 and you could easily sell it for 40k… well you’ll want a plan “B” because it’s certainly more than 20% and it’s certainly not a deal you would want to walk away from. So, there are a couple things to consider on the Fannie Mae 90 day resale restriction. I don’t think you’re going to get them to wave it, by the way. You can always ask, and frankly should, but I would not bank on them waiving it. Now with organizations like Bank of America, Wells Fargo, and other large institutions, where they’ve been pretty notorious with resale restrictions, it’s another story.
More and more of my students from all around the country, are telling me that Bank of America and Wells and the likes, are waiving their resale restrictions when asked.  So, when they make an offer through the realtor, the student, and it comes back accepted from B of A with a resale restriction in the contract saying something to the effect of, “We’ve accepted your offer but there’ll be a 30 day resale restriction in there.” What you can do is go back, obviously through the realtor and tell them “No, take the resale restriction out, or no deal.” And what we’re seeing is Bank of America and Wells Fargo are starting to back down. They’re starting to say: “Okay, we’ll take it out.” The Fannie Mae thing is kind of new. up and coming issue that I think we may see that for a while. The point I’m getting at is the smaller banks, not the Fannie, Freddie, HUD, VA owners – but the smaller, as if Bank of America is small, banks are taking them out.
So I wholeheartedly encourage you to tell the bank to “Stuff it!” whenever you can. It’s also important for you to understand that if there’s a resale restriction in the deal, your closing agent, whoever’s issuing the title insurance policy, whether that’s an attorney or a title company, it doesn’t matter, but whoever’s issuing the title insurance policy, is probably not going to like the idea of a resale restriction. The reason is because it opens them up to a potential title problem later, that they’re going to have liability for. See, if you somehow manage to get the property sold prior to the deeded resale restriction expiring, well then, there’s a title problem, and it falls back on the title company that issued the policy to you when you bought the property – so they don’t like resale restrictions either. Here’s my point, you may be able to get your closing agent to go to bat for you and help you get the resale restriction waved- they don’t like it either.
Now before I move on, I’ve got a very powerful strategy that’s going to take a few minutes for me to lay out for you, that will make you glad you kept reading. Before I move on though, I want to congratulate you for being here. If you’re reading this now, that means is resale restrictions haven’t caused you to tuck your tail between your legs and go away assuming that this business doesn’t work. The fact of the matter is the real estate business never stops changing and evolving! It’s fluid! It’s always changing, and if you don’t like what you’re seeing, then it’s like the weather… wait five minutes, and it’ll change.
With just shy of 20 years of being in this business of buying and selling properties, I can’t begin to share how much change I’ve seen over those years. Not only change in one direction, but in many cases, change back. Like a recoil from things that lenders and governmental agencies have tried over the years. So, I congratulate you for realizing it and understanding that this is a changing, fluid environment, real estate, and I hope that you’ll be like me and see the constant change as part of what makes it so fun! It’s never boring! No two deals are ever the same, and the longer you’re in the business, the more you’ll see in terms of change and the more opportunity you’ll see as well.
Ok, so now let’s talk specifically about this 90-Day one, ok? Because this is tough. If you’re familiar with me and the funding we do, you already know that we just aren’t able to go out that far. Our theoretical maximum is about thirty days, we may go a little over that, but that’s about it. And believe me, if we’re going to hold the funding in place for that long, you’ve got to have a rock-solid buyer lined up, ready to close, with skin in the game, whose not going to wiggle out of the deal. We’re just not willing to go to 90 days, or even close. However, there’s a wonderful strategy that I recently kind of tripped over, that is absolutely unheard of in the marketplace that I wanted to share with you in this video. Now let me explain too, and I’ll probably come back to this point after I explain the strategy.
This one strategy, could easily be, in the eyes of another real estate trainer, not mine of course, but could easily be seen in the eyes of another real estate trainer, the basis for yet another $997 program. That’s not how I roll. I don’t have a $997 program every few months to try to keep you focused on the shiny object. We stick to our core here, and that’s why I want to share this strategy with you right now, and not charge you a dime for it. This is powerful, and I want you to get this. Ok, so what we’re going to do is run through a scenario where we’re making an offer on a property, that we’ll say is Fannie Mae owned and they’ve put in a 90-day resale restriction and we can’t get it out. How can we wholesale this house, and not use any money of your own at all? Knowing that my transaction funding is not available for this deal, going into it, the question is, how can you still do the deal?
Ok, here we go. Now what I’ve done is I’ve gone ahead and I’ve drawn a few boxes on here to represent the different players on this strategy. Party A is the seller, and in this case, it’s Fannie Mae. And Party B is You. Party C is your buyer. Typical sounding A to B, B to C transaction, with a twist. Alright, so what we’re going to do is we’re going to go ahead and put this thing under contract at  whatever price we’ve agreed to, and we’re going to plan on this A to B closing. This will be a cash transaction.
Where’s the money going to come from? Your buyer!
So that requires that your buyer be a cash buyer. This strategy will not work if your buyer is going to get a mortgage at a bank. So this needs to be a cash buyer. Now, you already know that cash buyers are the best buyers in the business, there’s no doubt about it. And, the more often you can sell to a cash buyer, the more quickly you’ll close, the more money you’ll make, and the less hassles you’ll deal with. Cash buyers are the best in the business – they buy again and again, they don’t evaporate at the eleventh hour, like so many financed buyers do. They stick with the deal, if it’s a good deal; they’re going to close. They’re just the kind of buyer that’s easy to deal with, with no hassles.
Now, if you’re not aware, you can get access to cash buyers, known cash buyers from public data, all across the USA, at my cash buyer data feed. Ok, so that’s at www.CashBuyerDataFeed.com. And actually, right now, on the day of this recording we’re running a trial offer at that page that’s a total no brainer. It’s such a great deal there’s no way you’d say no to it, so check it out at: www.CashBuyerDataFeed.com.
Alright, so we have this cash buyer. Now instead of selling to them on the normal B to C transaction, where the deed would transfer to them, we’re actually going to insert in the middle of this transaction, a lease option. Now if you happen to be in Texas, you might want to use a different instrument, you can talk to a real estate attorney, and have him help you with that. But nevertheless, it can be done in Texas too. But everywhere else, we’re going to use a lease option. So we’re going to sell it to our buyer on a lease option. Now the money for our purchase is going to come from our buyer. So this buyer will fund the cash, but we will give them a mortgage, or a deed of trust. So in effect, what is happening now, is our buyer is our private lender. We found this cash buyer, and they’re going to be our private lender. They’re going to lend us the money.
Let’s say we’re purchasing the property for $100,000.00 and we’re selling it for $120,000.00, ok? Now, you might argue, “Well wait a minute Cam, you could get away with the 90 day thing here because you could drop your price a dollar and get under that 20% markup.” Fair enough. It would really be $119,990, but just go with me, it’s an example, and hopefully the numbers are much bigger for you. Ok so, we’re selling to our buyer on a lease option at $120,000.00. He or she is lending us the $120,000.00 and we’re going to have a mortgage or a deed of trust. Now, in order to close this transaction, we only need 100k, the other 20k is going to come out of the closing and go right into your pocket. So you’re actually going to walk away with your $20,000.00 profit when we close the purchase and sell to our buyer on a lease option. This buyer will put up the full $120k, we only need $100k to satisfy the seller, that leaves $20k for us at closing… there’s our profit. Now… there is a mortgage on the property, or deed of trust, that we’re going to sign as the borrower, for $120,000.00. This protects your buyer’s interests, so there’s no way that they could get screwed up here. What we’ll also do is go ahead and sign a deed over to our buyer, Party C, now. Then the closing agent will hold that deed in escrow.
So now the buyer is protected in 2 ways. They have a lean on the property, and they have a deed from you to them in escrow. So there’s no way they are going to get screwed on this deal. They’re going to get their property now, even though there is a 90-day resale restriction. What allows us to avoid that is the fact that the title is not transferring to the buyer yet.
So, let’s pause for a minute and look at the benefits and what we’ve done here. We’ve been able to make this transaction happen. We close with $100k. It comes to us in the form of a mortgage or deed of trust, from our buyer. Our buyer is a cash buyer, who we are asking to be our private lender, for about 91 days, ok? We make the purchase; the additional $20k the buyer needs to come up with is the rest of what they’ve agreed to pay for the property. That obviously represents a good deal to them, or they wouldn’t be willing to do it. And we walk away from this closing, the A to B, with our $20k overage. That’s our profit. The buyer is protected by a lean, at the value of $120,000.00, and a deed held in escrow. So, the closing takes place and the buyer temporarily holds the property on a lease option. As rehabbers, they immediately go to work rehabbing it.
Ok, so we’re wholesaling here, we’re most likely selling to a rehabber, could be a landlord, but they’re going to go about whatever business they need to do to prepare this property to put an occupant/buyer in it. So they begin the repairs immediately. We know we can’t resell the thing for at least 90 days, fair enough. So on the 91st or 92nd or 93rd day, even if you are out of town, you can send the closing agent instructions, your buyer will also instruct the closing agent to go ahead and record the deed. Bam! The B to C transaction just took place. So this happens, on say the 91st day.
What we’ve done is adhere to the 90-day resale restriction, put our buyer in the house immediately so he or she could get the repairs done, and begin lining up their D buyer. The D buyer is the end buyer to whom our buyer is going to sell. So there’s a 3rd transaction to the end buyer. That will almost for sure involve financing, probably government financing. And so, your buyer is likely to get this D buyer going before the deed is ever recorded if that makes sense. Your buyer will understand this process without a problem, as long as they are in the business doing deals, and not a beginner. A beginner might not like the idea of this. A buyer that’s in the business doing deals won’t mind it at all, especially if, and I keep coming back to this, the $120,000.00 they’re paying, is a great deal.  It needs to be a great deal for your buyer.
You know it’s amazing… when you give your buyer a great deal, they’ll jump through rings of fire to get at it. That’s just the nature of what we do. You as a Real Estate Investor have probably found yourself in a place where you’ve been willing to jump through rings of fire to get a great deal. So as long as it’s a smokin’ deal, and you’ve got a buyer who’s not a beginner, this works beautifully. It gives them time to do the repairs, get their buyer lined up, and record that deed as soon after the 90 days as possible. Your buyer’s mortgage gets extinguished at the time that that deed is recorded, and all of this is handled by the closing agent. They do the repairs, line up their D buyer and cash out. So, it’s a way to get around the 90-Day restriction that doesn’t cost you, really, any more money.
Now there is one expense that we’re going to incur here, and it’s something you need to consider, and that’s the tax on recording this mortgage or deed of trust between you and your buyer. In most counties and most states there is some sort of mortgage tax. There may not be in your area, which would be great, but for most of us there is. It’s not a lot of money, but it’s an additional expense. I’m here to tell you, I’d rather pay the fee to get this mortgage recorded, than either not do the deal, or have to figure out some sort of funding so I can sit on the thing for 90 days so I can get my $20k profit. The last thing you want to do, is fund this thing, and then have it sit empty for 90 days before you turn around and resell it. That’s where the 3 V’s come in. Vermin, vandals, and vagrants.
Vacant houses are targets, and so it’s one thing to buy them, but it’s another thing to own them and be sitting on them while their vacant. That’s not a good plan. This strategy allows you to avoid that.
So, let me go through it one more time just to review and make sure you’ve got it. Here’s your seller, it’s Fannie Mae. They’ve imposed a 90-Day resale restriction. We put it under contract for $100k. We go and find a cash buyer who’s willing to pay us the $120k, which needs to be a great deal. We go ahead and talk to this buyer, explain what’s going on. Their going to know how much you’re making on the deal, by the way. That’s a given. Get them on board, they go ahead and lend the $120k, the property is the collateral, you are the borrower, you only need $100k to satisfy your seller, so you leave with the overage of $20k less a few closing costs, which may include mortgage tax on recording this $120k mortgage. The way that we put this property in the hands of our C Buyer temporarily is on a lease option. This gives them the right to use the property, to fix the property, and their protected by this mortgage, and we’ve gone ahead and signed a deed, from you or your entity to your buyer, that’s held by the closing agent. It will only be recorded after the 90 days have ticked off the calendar. So on the 91st day, maybe it’s the 95th, depends on how the weekends fall or whatever, but on the 91st day the deed gets recorded to the buyer, the mortgage is extinguished and you’re out. You were pretty much out when you took your $20k anyway, however you are on title, or better yet, your entity is on title until that deed gets recorded. When it gets recorded, you’re really out. Now you’ve already gotten your money and now you’re no longer on title. They’re on title; they turn around and sell to their D Buyer. During the 90 days they’re doing their repairs and they’re getting their D Buyer lined up.
So it’s win, win, win, win. Everybody wins, and we get around that 90-Dday resale restriction. So, we need a cash buyer. Remember www.CashBuyerDataFeed.com. That’s where you’ll find cash buyers all across the USA. In fact we added 38,000 just last month. That’s from public record. It comes from several different databases. It’s a phenomenal service, and dirt-cheap. We need a cash buyer. We are going to turn him or her into our private lender temporarily. They’re basically going to put out the money now, and in effect they’re lending it to us, even though what they are really doing is they’re just putting it into the property and now they’re going to do the repairs. And what protects them is the mortgage and the deed in escrow.
And by the way, if private lenders excite you, and they should because this building I’m standing in right now is funded by a private lender, then you may also want to check out the private lender data feed, which is where you get access to known private lenders from all over the USA coming from public record. We have access to several different data sources, where we clean and scrub that list down to just the private lenders that we want and oh my gosh, we added 8,000 new ones last month. So, that’s another phenomenal service that’s dirt-cheap and there’s a trial offer going on there as well. Go to: www.PrivateLenderDataFeed.com.
So, there’s a great solution to get you past a long resale restriction. One where you can continue to do the business, make lots of money, and watch your competition whither, because they don’t know about this. They weren’t smart enough to come here. You were. Congratulations. I hope to talk to you soon,
Cam Dunlap

Hello, Cam Dunlap here, for a white board exercise today. What I want to talk to you about is Bank Resale Restrictions. There’s no doubt that there are a lot of bank foreclosures out there now, and some lenders have been for a long time, and others are just experimenting, and some are moving away from the concept of ” lender-resale restrictions”. What is common in the marketplace are 30- Day, then we’ve got 45-Day restrictions, in particular, on some short sales, I’m now seeing an occasional 60-Day, and in some cases even 90-Days. We’re going to talk about these restrictions, and we’re going to talk about how to get past them so that you can continue to do deals, make a ton of money, while we’re in the middle of this amazing foreclosure opportunity.

I see at least another couple of years before the inventory really starts to dwindle. In fact we’re starting to see more and more of the shadow inventory that lenders have started to release, so that is continuing the opportunity, elongating in terms of a time frame – the opportunity. Ok, so 30 days I’ve seen pretty typically on short sales, and also on some REO’s, 45’s the same, 60 is a little more unusual and 90 I’m starting to hear about Fannie Mae doing arbitrarily. They’re not doing it in every market, and on every house in every market, but they are putting some 90-day resale restrictions on their properties.

Now what that means to you and me, is they want to prevent us from re-selling properties quickly. If you read the fine print on the Fannie Mae resale restriction, you’ll notice that it says that you cannot resell it within 90 days as long as you are re-selling it for more than 120% of your purchase price. Now, what they’re basically doing is trying to tell you “Hey, if you’re making more than this much on it, well, we really would rather stick our finger in your eye. If you’re making less than this much on it, well, then we’re ok with it.” So what we have is a government organization, that is a known disaster area, and has been for years, run by idiots and crooks, now trying to tell us what we should be able to make, when we as Real Estate investors are helping them out of the jam that they’re in. Does that bother you like it bothers me? It makes me want to put my fist through the wall! It’s wrong, it’s un-American, it’s anti-capitalistic, it’s controlling, and it’s nothing but big government in our face, but we’re not going to get political in this conversation.

I’m just trying to put it in perspective and I’ve got some others too, some other perspectives.

So, let’s say you live in an expensive market where you are buying a Junker house for $100,000 and you plan to wholesale it. You’re not going to rehab it. You’re just going to turn around and flip it, as is, to another investor or rehabber or landlord type buyer. This is called “Wholesaling” by the way, So you have it under contract for 100k, you could sell it for as much as $119,990 and not be subject to that 90-Day resale restriction… read the fine print!

Now if you happen to live in a cheaper market, where you are buying a house for $15,000.00,120% of that is not a whole heck of a lot, although it’s still a $3,000 profit, which is nothing to sneeze at. But, if you’re buying it for $15,000.00 and you could easily sell it for 40k… well you’ll want a plan “B” because it’s certainly more than 20% and it’s certainly not a deal you would want to walk away from. So, there are a couple things to consider on the Fannie Mae 90 day resale restriction. I don’t think you’re going to get them to wave it, by the way. You can always ask, and frankly should, but I would not bank on them waiving it. Now with organizations like Bank of America, Wells Fargo, and other large institutions, where they’ve been pretty notorious with resale restrictions, it’s another story.

More and more of my students from all around the country, are telling me that Bank of America and Wells and the likes, are waiving their resale restrictions when asked.  So, when they make an offer through the realtor, the student, and it comes back accepted from B of A with a resale restriction in the contract saying something to the effect of, “We’ve accepted your offer but there’ll be a 30 day resale restriction in there.” What you can do is go back, obviously through the realtor and tell them “No, take the resale restriction out, or no deal.” And what we’re seeing is Bank of America and Wells Fargo are starting to back down. They’re starting to say: “Okay, we’ll take it out.” The Fannie Mae thing is kind of new. up and coming issue that I think we may see that for a while. The point I’m getting at is the smaller banks, not the Fannie, Freddie, HUD, VA owners – but the smaller, as if Bank of America is small, banks are taking them out.

So I wholeheartedly encourage you to tell the bank to “Stuff it!” whenever you can. It’s also important for you to understand that if there’s a resale restriction in the deal, your closing agent, whoever’s issuing the title insurance policy, whether that’s an attorney or a title company, it doesn’t matter, but whoever’s issuing the title insurance policy, is probably not going to like the idea of a resale restriction. The reason is because it opens them up to a potential title problem later, that they’re going to have liability for. See, if you somehow manage to get the property sold prior to the deeded resale restriction expiring, well then, there’s a title problem, and it falls back on the title company that issued the policy to you when you bought the property – so they don’t like resale restrictions either. Here’s my point, you may be able to get your closing agent to go to bat for you and help you get the resale restriction waved- they don’t like it either.

Now before I move on, I’ve got a very powerful strategy that’s going to take a few minutes for me to lay out for you, that will make you glad you kept reading. Before I move on though, I want to congratulate you for being here. If you’re reading this now, that means is resale restrictions haven’t caused you to tuck your tail between your legs and go away assuming that this business doesn’t work. The fact of the matter is the real estate business never stops changing and evolving! It’s fluid! It’s always changing, and if you don’t like what you’re seeing, then it’s like the weather… wait five minutes, and it’ll change.

With just shy of 20 years of being in this business of buying and selling properties, I can’t begin to share how much change I’ve seen over those years. Not only change in one direction, but in many cases, change back. Like a recoil from things that lenders and governmental agencies have tried over the years. So, I congratulate you for realizing it and understanding that this is a changing, fluid environment, real estate, and I hope that you’ll be like me and see the constant change as part of what makes it so fun! It’s never boring! No two deals are ever the same, and the longer you’re in the business, the more you’ll see in terms of change and the more opportunity you’ll see as well.

Ok, so now let’s talk specifically about this 90-Day one, ok? Because this is tough. If you’re familiar with me and the funding we do, you already know that we just aren’t able to go out that far. Our theoretical maximum is about thirty days, we may go a little over that, but that’s about it. And believe me, if we’re going to hold the funding in place for that long, you’ve got to have a rock-solid buyer lined up, ready to close, with skin in the game, whose not going to wiggle out of the deal. We’re just not willing to go to 90 days, or even close. However, there’s a wonderful strategy that I recently kind of tripped over, that is absolutely unheard of in the marketplace that I wanted to share with you in this video. Now let me explain too, and I’ll probably come back to this point after I explain the strategy.

This one strategy, could easily be, in the eyes of another real estate trainer, not mine of course, but could easily be seen in the eyes of another real estate trainer, the basis for yet another $997 program. That’s not how I roll. I don’t have a $997 program every few months to try to keep you focused on the shiny object. We stick to our core here, and that’s why I want to share this strategy with you right now, and not charge you a dime for it. This is powerful, and I want you to get this. Ok, so what we’re going to do is run through a scenario where we’re making an offer on a property, that we’ll say is Fannie Mae owned and they’ve put in a 90-day resale restriction and we can’t get it out. How can we wholesale this house, and not use any money of your own at all? Knowing that my transaction funding is not available for this deal, going into it, the question is, how can you still do the deal?

Ok, here we go. Now what I’ve done is I’ve gone ahead and I’ve drawn a few boxes on here to represent the different players on this strategy. Party A is the seller, and in this case, it’s Fannie Mae. And Party B is You. Party C is your buyer. Typical sounding A to B, B to C transaction, with a twist. Alright, so what we’re going to do is we’re going to go ahead and put this thing under contract at  whatever price we’ve agreed to, and we’re going to plan on this A to B closing. This will be a cash transaction.

Where’s the money going to come from? Your buyer!

So that requires that your buyer be a cash buyer. This strategy will not work if your buyer is going to get a mortgage at a bank. So this needs to be a cash buyer. Now, you already know that cash buyers are the best buyers in the business, there’s no doubt about it. And, the more often you can sell to a cash buyer, the more quickly you’ll close, the more money you’ll make, and the less hassles you’ll deal with. Cash buyers are the best in the business – they buy again and again, they don’t evaporate at the eleventh hour, like so many financed buyers do. They stick with the deal, if it’s a good deal; they’re going to close. They’re just the kind of buyer that’s easy to deal with, with no hassles.

Now, if you’re not aware, you can get access to cash buyers, known cash buyers from public data, all across the USA, at my cash buyer data feed. Ok, so that’s at www.CashBuyerDataFeed.com. 

Alright, so we have this cash buyer. Now instead of selling to them on the normal B to C transaction, where the deed would transfer to them, we’re actually going to insert in the middle of this transaction, a lease option. Now if you happen to be in Texas, you might want to use a different instrument, you can talk to a real estate attorney, and have him help you with that. But nevertheless, it can be done in Texas too. But everywhere else, we’re going to use a lease option. So we’re going to sell it to our buyer on a lease option. Now the money for our purchase is going to come from our buyer. So this buyer will fund the cash, but we will give them a mortgage, or a deed of trust. So in effect, what is happening now, is our buyer is our private lender. We found this cash buyer, and they’re going to be our private lender. They’re going to lend us the money.

Let’s say we’re purchasing the property for $100,000.00 and we’re selling it for $120,000.00, ok? Now, you might argue, “Well wait a minute Cam, you could get away with the 90 day thing here because you could drop your price a dollar and get under that 20% markup.” Fair enough. It would really be $119,990, but just go with me, it’s an example, and hopefully the numbers are much bigger for you. Ok so, we’re selling to our buyer on a lease option at $120,000.00. He or she is lending us the $120,000.00 and we’re going to have a mortgage or a deed of trust. Now, in order to close this transaction, we only need 100k, the other 20k is going to come out of the closing and go right into your pocket. So you’re actually going to walk away with your $20,000.00 profit when we close the purchase and sell to our buyer on a lease option. This buyer will put up the full $120k, we only need $100k to satisfy the seller, that leaves $20k for us at closing… there’s our profit. Now… there is a mortgage on the property, or deed of trust, that we’re going to sign as the borrower, for $120,000.00. This protects your buyer’s interests, so there’s no way that they could get screwed up here. What we’ll also do is go ahead and sign a deed over to our buyer, Party C, now. Then the closing agent will hold that deed in escrow.

So now the buyer is protected in 2 ways. They have a lean on the property, and they have a deed from you to them in escrow. So there’s no way they are going to get screwed on this deal. They’re going to get their property now, even though there is a 90-day resale restriction. What allows us to avoid that is the fact that the title is not transferring to the buyer yet.

So, let’s pause for a minute and look at the benefits and what we’ve done here. We’ve been able to make this transaction happen. We close with $100k. It comes to us in the form of a mortgage or deed of trust, from our buyer. Our buyer is a cash buyer, who we are asking to be our private lender, for about 91 days, ok? We make the purchase; the additional $20k the buyer needs to come up with is the rest of what they’ve agreed to pay for the property. That obviously represents a good deal to them, or they wouldn’t be willing to do it. And we walk away from this closing, the A to B, with our $20k overage. That’s our profit. The buyer is protected by a lean, at the value of $120,000.00, and a deed held in escrow. So, the closing takes place and the buyer temporarily holds the property on a lease option. As rehabbers, they immediately go to work rehabbing it.

Ok, so we’re wholesaling here, we’re most likely selling to a rehabber, could be a landlord, but they’re going to go about whatever business they need to do to prepare this property to put an occupant/buyer in it. So they begin the repairs immediately. We know we can’t resell the thing for at least 90 days, fair enough. So on the 91st or 92nd or 93rd day, even if you are out of town, you can send the closing agent instructions, your buyer will also instruct the closing agent to go ahead and record the deed. Bam! The B to C transaction just took place. So this happens, on say the 91st day.

What we’ve done is adhere to the 90-day resale restriction, put our buyer in the house immediately so he or she could get the repairs done, and begin lining up their D buyer. The D buyer is the end buyer to whom our buyer is going to sell. So there’s a 3rd transaction to the end buyer. That will almost for sure involve financing, probably government financing. And so, your buyer is likely to get this D buyer going before the deed is ever recorded if that makes sense. Your buyer will understand this process without a problem, as long as they are in the business doing deals, and not a beginner. A beginner might not like the idea of this. A buyer that’s in the business doing deals won’t mind it at all, especially if, and I keep coming back to this, the $120,000.00 they’re paying, is a great deal.  It needs to be a great deal for your buyer.

You know it’s amazing… when you give your buyer a great deal, they’ll jump through rings of fire to get at it. That’s just the nature of what we do. You as a Real Estate Investor have probably found yourself in a place where you’ve been willing to jump through rings of fire to get a great deal. So as long as it’s a smokin’ deal, and you’ve got a buyer who’s not a beginner, this works beautifully. It gives them time to do the repairs, get their buyer lined up, and record that deed as soon after the 90 days as possible. Your buyer’s mortgage gets extinguished at the time that that deed is recorded, and all of this is handled by the closing agent. They do the repairs, line up their D buyer and cash out. So, it’s a way to get around the 90-Day restriction that doesn’t cost you, really, any more money.

Now there is one expense that we’re going to incur here, and it’s something you need to consider, and that’s the tax on recording this mortgage or deed of trust between you and your buyer. In most counties and most states there is some sort of mortgage tax. There may not be in your area, which would be great, but for most of us there is. It’s not a lot of money, but it’s an additional expense. I’m here to tell you, I’d rather pay the fee to get this mortgage recorded, than either not do the deal, or have to figure out some sort of funding so I can sit on the thing for 90 days so I can get my $20k profit. The last thing you want to do, is fund this thing, and then have it sit empty for 90 days before you turn around and resell it. That’s where the 3 V’s come in. Vermin, vandals, and vagrants.

Vacant houses are targets, and so it’s one thing to buy them, but it’s another thing to own them and be sitting on them while their vacant. That’s not a good plan. This strategy allows you to avoid that.

So, let me go through it one more time just to review and make sure you’ve got it. Here’s your seller, it’s Fannie Mae. They’ve imposed a 90-Day resale restriction. We put it under contract for $100k. We go and find a cash buyer who’s willing to pay us the $120k, which needs to be a great deal. We go ahead and talk to this buyer, explain what’s going on. Their going to know how much you’re making on the deal, by the way. That’s a given. Get them on board, they go ahead and lend the $120k, the property is the collateral, you are the borrower, you only need $100k to satisfy your seller, so you leave with the overage of $20k less a few closing costs, which may include mortgage tax on recording this $120k mortgage. The way that we put this property in the hands of our C Buyer temporarily is on a lease option. This gives them the right to use the property, to fix the property, and their protected by this mortgage, and we’ve gone ahead and signed a deed, from you or your entity to your buyer, that’s held by the closing agent. It will only be recorded after the 90 days have ticked off the calendar. So on the 91st day, maybe it’s the 95th, depends on how the weekends fall or whatever, but on the 91st day the deed gets recorded to the buyer, the mortgage is extinguished and you’re out. You were pretty much out when you took your $20k anyway, however you are on title, or better yet, your entity is on title until that deed gets recorded. When it gets recorded, you’re really out. Now you’ve already gotten your money and now you’re no longer on title. They’re on title; they turn around and sell to their D Buyer. During the 90 days they’re doing their repairs and they’re getting their D Buyer lined up.

So it’s win, win, win, win. Everybody wins, and we get around that 90-Dday resale restriction. So, we need a cash buyer. Remember www.CashBuyerDataFeed.com. That’s where you’ll find cash buyers all across the USA. In fact we added 38,000 just last month. That’s from public record. It comes from several different databases. It’s a phenomenal service, and dirt-cheap. We need a cash buyer. We are going to turn him or her into our private lender temporarily. They’re basically going to put out the money now, and in effect they’re lending it to us, even though what they are really doing is they’re just putting it into the property and now they’re going to do the repairs. And what protects them is the mortgage and the deed in escrow.

And by the way, if private lenders excite you, and they should because this building I’m standing in right now is funded by a private lender, then you may also want to check out the private lender data feed, which is where you get access to known private lenders from all over the USA coming from public record. We have access to several different data sources, where we clean and scrub that list down to just the private lenders that we want and oh my gosh, we added 8,000 new ones last month. So, that’s another phenomenal service as well. Go to: www.PrivateLenderDataFeed.com.

So, there’s a great solution to get you past a long resale restriction. One where you can continue to do the business, make lots of money, and watch your competition whither, because they don’t know about this. They weren’t smart enough to come here. You were. Congratulations. I hope to talk to you soon,

Cam Dunlap

 

Filed Under: Evaluating Deals Tagged With: cameron dunlap, foreclosure, foreclosure investing, making money with real estate, re-sale restriction, real estate investing, resale restriction

Comments

  1. Jeff Chandler says

    at

    Cam,

    Great educational video as usual. I love how you are using techniques that work in today’s market not what worked before. The presentation was very visual and you explained it slowly enough to understand it. This is something in Florida which has been happening. I wasn’t even touching Fannie Mae properties but will now reconsider them again. Chris and I are still working hard to get some more deals done with you. Banks are just being pains in the butt as usual.

    Reply
  2. frank says

    at

    Have you been working out?

    Thanks for the info, very helpful. I just let a fannie deal go because my investor bailed, and I just could not figure a way to wholesale it!

    Im assuming deed in escrow is subject to original financing, not sure of timing on that part though.

    The mortgage, the lease option and the deed in escrow all happen on a-b closing day?? same time? any particular order?

    +++++++++
    Frank,
    Let the closing agent take care of it!!
    Cam

    Reply
  3. Mark says

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    I like this strategy, but I have a questions for you. So, there aren’t any chain of title/seasoning issues for my buyer’s the end (retail) buyer that will get a new loan?

    +++++++++
    Mark,
    The only place there might have a chain of title issue would be with the “D” (end user) buyer’s lender. If there is an issue, the lender would likely want to see evidence of the work done, like contractor receipts, to justify the sudden rise in price. It will depend on the lender of course. FHA has suspended their 90 day title seasoning rule but will still likely want evidence and a 2nd appraisal. Just remember that if you’re wholesaling, it’s your buyer’s issue. If your buyer is an experienced rehabber, well than this issue is just like any other that’s “all in a day’s work”. BTW, Do you think this is new? Get this… I had to show receipts on a deal to get my end buyer’s lender (FHA) off my back in 1993!
    Cam

    Reply
  4. Emmanuel Idogho says

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    This is a great trick of the game. Good work and thank you for the education.

    Reply
  5. Richard Pope says

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    This works. I have done it four times now with short sales.

    Reply
  6. Denise Rowe says

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    Such good information. I always appreciate ideas on how to get around the unnecessary crap the banks throw at us.

    Reply
  7. Steve says

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    Cam,

    This info is so helpful, the lease option part is totally genius, thank you much.

    Reply
  8. Michael Randolph says

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    Cameron, your ‘C’ buyer can also just assign the option to the ‘D’ buyer if he’s done with repairs and is ready to close on the deal with the ‘D’ buyer.

    +++++++++
    Michael,
    True but…. if the D buyer is getting bank financing, the lender may get a little touchy about that. You’ll need to experiment with that carefully.
    Cam

    Reply
  9. Elaine says

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    OMG!!! Your are Fantastic!!! I am proud to be in the Inner Circle. I’m currently doing a FMae wholesale deal..and I was looking for a way not to get stuck with 90 days. Thanks to this lesson, NO MORE STRESS!!! YUPI!
    Cameron you are a GENIUS and very Creative guy!!
    Thanks again!

    ++++++++
    Elaine,
    Thanks for the nice comments. I appreciate it. BTW, if you would like to learn more about my Inner Circle go to http://www.CameronsInnerCircle.com
    Cam

    Reply
  10. jamie says

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    Cam you really hit the nail on the head with this one. Great work on explaining this invaluable info.

    Reply
  11. Dave says

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    Cam,
    You mentioned in the presentation that we can access cash buyers at one of your many sites. Based on my experience, most of these sites will have a name, address and address of recent purchase. Do you have a system with cash buyers e-mail addresses and telephone numbers ?
    Most of the cash buyer system does not have this feature and wants you to subscribe to expensive mailing within their system.
    I am a very successful Broker/Investor and it appears as if most of the “gurus” out there, are out to put their hands in your pockets time and time again.
    Regards,
    Dave.


    ++++++++++++++
    Dave,
    What we are able to provide is what is recorded on the public record, and that does not typically include a phone number or email address. Will that change with time, I presume so, but it is what it is, for now. If you don’t want the info because of it, then don’t buy it, and… your competition will. Go to http://www.CashBuyerDataFeed.com for more info on how you can crush your competition with access to cash buyers nationwide for only $50/mo.

    Your attitude toward “gurus” comes from a place of scarcity. You might want to consider working on that. Making cash buyer info available to your for $50 a month is something I can’t tell you how much I wish I had available to me when I got started. My products are ALL designed with one thing in mind… to make the business easier for you to do than it was for me. Should I get paid for that…. seriously? Don’t buy into what the current administration would have you believe about capitalism and making a profit in general. It’s not bad or evil, it’s what has made, and will continue to make this country great. Contrary to what Govt. would like you to believe… Your are not entitled to my (or anyone else’s) time, experience and expertise without paying for it.
    Cam

    Reply
  12. Richard Howe says

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    On my last two offers I actually put in a condition that says “Seller will not impose resale restrictions”. One was Fanny Mae so I’ll just have to see what response I get. Thanks for being on top of this.

    Reply
  13. Allan Williams says

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    Cam,

    I like your strategy, but why is a lease necessary? Wouldn’t an option without a lease also work?

    Allan

    An option might work, on its own, but with the lease, the tenant buyer has the right to “enjoy” the property. Enjoy meaning occupy, use, etc.

    Cam

    Reply
  14. Murray Wiggins says

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    Cam,

    Flipping Brilliant !

    Reply
  15. James Birgans says

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    Hello Cam:

    This video is awesome!; I did not expect anything less. I like what you are doing by keeping us educated on different techniques to eliminate so called obstacles. Keep up the good work. I’m getting back in the game for life and I look forward to doing a lot of deals with you.

    Reply
  16. BetterLivingServices says

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    Great strategy. I’m a cash buyer IF its a great deal. Anyone doing this in the Inland Empire, S.Cal?

    Reply
  17. Ron Pelle says

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    Thanks for the great strategy, Cam! An additional thought: Make sure there’s enough separation between your A-B purchase price and the B-C sale price to cover some additional expenses and still have some profit. In addition to closing costs, the party holding title (the B party – us) would be responsible for property taxes during the 90-day lease/option period. You should also probably have property insurance – and make sure the C buyer also has their own insurance (and names you as an additional insured) during the 90-day period.

    ++++++++++++++++++++
    Ron,
    Excellent suggestions! Thanks for posting.

    Cam

    Reply
  18. Bruce Bell says

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    Hi Cam:

    Good information about resale restrictions. The information was explained in a clear way. Bank of America is becoming more flexible (this is great information) It was great to see you on a webinar with Lee Arnold. I am an affiliate with Private Money Bank/Exchange. The very best to you and your family.

    Reply
  19. Dan Ringler says

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    Cam, this was a great presentation and very worthwhile. Thank you.

    Reply
  20. George says

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    Hi Cam
    You’ve just cracked the ‘Banker’s code’ with your genius stroke. Well done. It’s clear, precise & complete.

    Reply
  21. Jeff Scott says

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    Thanks again Cam, one more thing to take the fear out of making it happen. Jeff Scott

    Reply
  22. Bob burozski says

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    long time no see,

    another strategy is to make you offer as “XYZ LLC as trustee”. then you can put it into a trust later or just form a cheap LLC to close it and sell the shares (sell the llc as an entity) to the buyer. An even more slick way is to take out a DBA for a trust and close like that. then assign the trust.

    Bob Burozski
    Private Banker Loans

    Reply
  23. thomas boyer says

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    I have multiple offers in play in the inland empire and would love to hear from you Better Living Services.

    Reply
  24. Minnie Brandon says

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    Thanks Cam as always for your wisdom that is right on target every time. The presentation was great and easily understood. I really admire and appreciate your approach to “problems” that you break down to us in an easily understood manner!

    Reply
  25. Pat Greeley says

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    The listing REO Agent will not submit an offer to Bank of America with the 60 day deed restriction crossed out. Do they have to submit it?

    ++++++++++
    Pat,
    Technically, yes. I suggest you find another Realtor for future deals.
    Cam

    Reply
  26. Richard B Maselow, CPA, CGMA says

    at

    Excellent Cam. THX
    You are the best.
    You are the BOMB!

    Reply
  27. Sabrina Akins says

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    I’m ready to do a deal Cam!

    Reply
  28. Ron Mora says

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    If buyer C needs 90 days to rehab the property, what is preventing him from going directly to seller A to purchase for 100K? Do we have an signed offer with A before we go to buyer C?

    Reply
    • Cameron Dunlap says

      at

      Yes Ron, you sure do! Having it under contract is what protects you.

      It is possible that a buyer could go around your back if your contract expires, but when you buy in such a way that you can sell CHEAP, any investor that can smell a good deal is going to grab it before someone else does.

      If a buyer ever does go around your back, then you and anyone you tell about it, will know not to do business with that person in the future. After all… it’s a small world.

      Cam

      Reply
  29. Paul Brauning says

    at

    excellent info , thanks cam !
    im going to the fannie mae website right now .

    Gary W
    Character Still Matters llc
    Indianapolis ,IN

    Reply
  30. Tommy Harris says

    at

    Great Cam. I started a Private Lending Group to buy & Wholesale. This is great info & I will be talking to my Atty next wk.

    Cam, I do have a question. Is there a way to get a Cash Buyer’s list, say over multiple areas, as a package deal? eg All of eastern NC. etc. I’m working 3 areas, so to get Cash Buyers in each zip code, I will have to setup three different accounts or wait for three months to buy in one of the areas.
    What’s your thought?

    Reply
  31. JACKIE BETHEL says

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    Excellent Information. Thanks CAM!!!.
    I Thank God for you.

    Reply
  32. Jason Mauney says

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    Cam,

    Awesome strategy. Bit of good news here, at least for Georgia folks anyway – in Georgia we are a Deed of Trust state (typically called Security Deed here actually). Per GA law, If the Maturity date of the Note referenced in the Security Deed is less than 3 years in length, the county doesn’t charge any intangibles tax and therefore no additional closing costs! Just FYI for you and anyone playing in Georgia (I’m not an attorney and not giving legal advice).

    -Jason

    Reply
  33. Linval says

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    Very good info Cam. They really think they are smarter than you. Great teaching very educational.

    Reply
  34. Paul Brasino says

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    Great presentation!! This strategy will be very useful. We are very happy we connected with you. You teach things so we can understand it and you don’t leave important pieces of information out. Thank you….

    Reply
    • Cameron Dunlap says

      at

      I appreciate your comment.

      Cam

      Reply
  35. Greezard says

    at

    Wow!

    Reply
  36. Bill says

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    Great info and strategies

    Reply
  37. Nick Graff says

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    Thanks a bunch Cam! I can see what you mean about an opportunity to create a whole system around this strategy. Thanks for the willingness to share this for free!

    Reply
  38. Lee Bryant says

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    Cameron I have used this strategy successfully several times. I want you to be aware of a potential problem . I had a very expensive beach house burn to the ground in the 93rd day. The buyers had done a lot of work on the property. If the house would have burned while I owned it there could have been some issues . Please be aware and have all hazard insurance issues resolved before the deal goes down. It is a great idea. I actually thought of this about two years ago in a deer stand and have made about 150k on three deals since then. Lee

    Reply
    • Cameron Dunlap says

      at

      Thanks for the insight. I appreciate it.

      Cam

      Reply
  39. Armando Bernal says

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    S i m p l e. —– I. Will get Cash-Buyers-Data-Feed. Soon. Thanks

    Reply
  40. Vernajean Thomas says

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    Hi Cam,
    I like this strategy. It started to make me think, why not use this for REO’s to get around non assignment issues.I think it would work.

    Reply
  41. Irma says

    at

    Very informative. This has kept me from trying to do any deals. Thanks very much.

    Irma

    Reply
  42. J. Crawford, Jr. says

    at

    Cam,
    The presentation was very informative and easy to understand; thanks.

    Reply
  43. Heidi dale says

    at

    Why not just close the house in an LLC name and then sell your cash buyer the LLC?

    Reply
    • Cameron Dunlap says

      at

      Hey Heidi. That might work because there is no transfer of title – just transfer of member interest. This is assuming you have the funds to close.

      You could also transfer your member interest prior to closing and take your wholesaling profit with that sale. Then your buyer would go and close in the name of the LLC. This way you would not need the funds to close.

      Thanks for your input.

      Cam

      Reply
  44. Mark K says

    at

    Cam, thanks for the insight I always get it straight listening to you. I’ve been back and fourth with Mary P on this subject,(and she’s another source of priceless insight), and it’s more than liberating when it comes to wholesaling to see this video! Thanx Cam and Team for all you do.
    Sincerly, Mark K

    Reply
  45. Kelvin Grady says

    at

    Thank-you very much for the information. I’m ready to start making offers. This will be a factor in my marketing approach. I want to be successful in this business and feel we made the right choice in joining your team.

    Reply
  46. David Fresas says

    at

    Cam,
    That’s great information. Will use it for future deals. Even though I have not run across any for 90 days. How long should the lease option be for? 91 days? Thank for te heads up.

    Happy New Year!

    Reply
  47. Corinne Cleveland says

    at

    I have run across the 90 days. It is a short sale. I will tell my realtor about this, and see where it goes. I live in Pinellas County, Fl. All short sales is 90 days here.

    Reply
  48. Bryan McClaskey says

    at

    Hey Cam, Bryan McClaskey here from New Jersey. Great idea with the lease option & mortgage strategy as a solution for flipping properties with a 90 day re-sale restriction. I actually have a short sale transaction I’m working on right now that I intend to use the strategy on. Just one thought I had on additional costs with this strategy in addition to recording fees for the mortgage. Since my entity will still own the property for 91 days before my Rehabber/Buyer exercises the Lease Option & closes, I think it’s a good Idea to carry liability/fire insurance on the property for 90 days. I’m sure my rehabber/buyer will carry Insurance, but it may be a good idea for me as the “B” party to carry insurance too. Your thoughts? Bryan (609) 313-7835

    Reply
  49. Stephan says

    at

    With these lender restrictions, at what point in the deal, do you pay the mortgage taxes, if your state requires them? RE is still new to me. Thanks.

    Reply
  50. Armida says

    at

    Hi Cam.

    Great Infomation and Instruction, only
    Expected from Cam Dunlap.

    Thank You

    Reply
  51. Alexander Anaya says

    at

    Hi Cam,

    Great information. Thank you.

    Reply
  52. Mia Rogers says

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    Thank you so much for your teachings. You make it easy to understand.

    Reply
  53. Anonymous says

    at

    As a 50 year construction, and remodeler. I have always wanted to get into the other side of real estate. I greatly enjoy your training videos, and encourage you to keep doing what you do. Thanks
    Rev. Samuel Garfield Jr.

    Reply
  54. Gary Banes says

    at

    Thanks for the strategy. All I hear is how investors are having problems with banks and what we are doing might not work. I will now be able to prove to them it does work. Thank you very much.

    Reply
  55. Christine Mathew says

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    This information is GOLD! I live in Texas and it seems there are always a few steps to take to make deals happen. This strategy will make a huge difference in whether I choose to walk away from a deal involving banks. Priceless information! Thank you!

    Reply
  56. Julette Zamichieli says

    at

    info worth a million dollars thanks cam

    Reply
  57. Ed Stanley says

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    This is a great strategy. Have been wondering how to use the lease option agreement. I am currently making a bid and planning to do more on bank owned properties. Had assumed I could use land trusts. Just read your comment on LLC owning and selling the interest. This would be the same principal except much less expensive to sell the interest of the beneficiary of the trust (me or my LLC that owns the property in the trust.) Look forward to your comments.

    Ed Stanley

    Reply
  58. Greg Potts says

    at

    Couldn’t you also get around the sales restrictions by buying the property in a Land Trust then simply eventually transferring the beneficial interest of the trust from you to the new buyer of the property? This sale is of course done as a cash sale between the parties involved.

    Reply
    • Cameron Dunlap says

      at

      You can do that yes. The trick is finding a cash buyer willing to pay a bunch of money for the beneficial interest in a trust vs. receiving a deed and title insurance, etc. It’s doable and done for sure but as a practical matter I think it’s seminar fluff.

      Reply

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Copyright © 2019 CameronDirect.com All Rights Reserved. The text, images, graphics, sound files, animation files, video files and their arrangement on the CameronDirect.com site are all subject to Copyright and other intellectual property protection. These objects may not be copied for commercial use or distribution, nor may these objects be modified or reposted to other sites. Investor/Network Member contact information may not be copied or used for marketing or solicitation purposes without the express written consent of CameronDirect.com. Some of the CameronDirect.com site may also contain images that are subject to the copyright rights of their providers.

Trademarks

Unless otherwise indicated, all marks displayed on the CameronDirect.com site are subject to the trademark rights of CameronDirect.com, including its corporate logo.

No Warranties or Representations

This information is provided by CameronDirect.com “as is” and without warranty of any kind, expressed or implied, including (but not limited to) any implied warranties of merchantability, fitness for any particular purpose, or non-infringement. While the information provided is believed to be accurate, it may include errors or inaccuracies. All product descriptions and illustrations of dealer service equipment are provided by the manufacturers of the products. Accordingly, by using this information, you agree that CameronDirect.com (including its subsidiaries, agents, officers, directors, employees and insurers) are not liable for damages of any kind, including (but not limited to) consequential or special damages resulting from your use or access.

No Licenses

CameronDirect.com has sought to achieve an innovative and informative Internet site. We hope that you will be as enthusiastic as we are about this creative effort. However, you also need to understand that CameronDirect.com must protect its intellectual property, including its patents, trademarks and copyrights. Accordingly, please appreciate that no license to CameronDirect.com’ intellectual property has been granted by this Internet site.

Suggestions and Ideas

Unsolicited suggestions, ideas or other submissions to CameronDirect.com will be treated as non-confidential and nonproprietary.

Contact Details

If at any time you wish to contact CameronDirect.com with any question or complaint or to exercise any of the rights set out in this privacy policy statement you may do so by contacting CameronDirect.com by using our FAQ page which provides contact information for email, phone and post.

Privacy Policy

Privacy & Security Information

How does CameronDirect.com use information gathered about its online visitors? Any consumer information gathered on the CameronDirect.com website may be used for aggregate research, promotional purposes and/or for future site development. In particular we may use information gathered about you for the following purposes: to send you or, where appropriate, your organization, information about us and promotional material about our products together with details of any offers we may have available from time to time; to monitor interest in our range of products and to assist us to tailor the content of the CameronDirect.com website to your needs by collecting information about your preferences through tracking patterns of page views on the CameronDirect.com website; and to create a profile relating to you in order to show you the content that might be of interest to you and to display the content according to your preferences.

Disclosure of Information

CameronDirect.com will not disclose personal identifiable information that you provide on this Site to any third parties other than to agents of CameronDirect.com, except:

1) in accordance with the terms of this privacy policy statement
or
2) to comply with valid legal requirements such as law, regulation, warrant, subpoena or court order.

Cookies

CameronDirect.com, in common with many website operators, may use standard technology called cookies on this Site. Cookies are small data files that are downloaded onto your computer when you visit a particular website. You can disable cookies by turning them off in your browser; however, some areas of this Site may not function properly if you do so.

Policies for Online Visitors Under 13 Years of Age

CameronDirect.com does not provide any personal identifiable information to any third party (other than CameronDirect.com agents) from our online visitors identified as being under 13 years of age. E-mail addresses of children under 13 are only used to deliver requested information.

When an online visitor under 13 years of age registers or provides any personal identifiable information, he/she is required to provide the e-mail address (or on some Sites, the postal address) of his/her parent or guardian. We give the parent or guardian notice via e-mail (or postal mail) when their child under 13 years of age registers or provides personal identifiable information. The notification provides the parent or guardian with instructions on how to review and delete information collected from his/her child.

Although online visitors under 13 years of age may be allowed to participate in some contests or promotions, if such a visitor wins, notification and prizes will be sent to the parent or guardian identified when the child entered the contest or promotion.

Security

This Site incorporates appropriate safeguards using industry standard technology to heighten the security, accuracy and privacy of any personal information we have collected and we have put in place reasonable precautions to protect information from loss and misuse. Our security and privacy policies are periodically reviewed and enhanced as required.

Policy Change

If we alter our privacy policy, any changes will be posted on this page of our Site so that you are always informed of the information we collect about you, how we use it and the circumstances under which we may disclose it. Please check back from time to time to ensure you are aware of our current privacy policy.

We appreciate your interest and hope that you enjoy visiting the Site.

Contact Information

If at any time you wish to contact CameronDirect.com with any question or complaint or to exercise any of the rights set out in this privacy policy statement you may do so by contacting CameronDirect.com by using our FAQ which provides you direct contact with the CameronDirect.com staff.

Earnings Disclosure

EVERY EFFORT HAS BEEN MADE TO ACCURATELY REPRESENT THIS PRODUCT AND IT’S POTENTIAL. EVEN THOUGH THIS INDUSTRY IS ONE OF THE FEW WHERE ONE CAN WRITE THEIR OWN CHECK IN TERMS OF EARNINGS, THERE IS NO GUARANTEE THAT YOU WILL EARN ANY MONEY USING THE TECHNIQUES AND IDEAS IN THESE MATERIALS. EXAMPLES IN THESE MATERIALS ARE NOT TO BE INTERPRETED AS A PROMISE OR GUARANTEE OF EARNINGS. EARNING POTENTIAL IS ENTIRELY DEPENDENT ON THE PERSON USING OUR PRODUCT, IDEAS AND TECHNIQUES. WE DO NOT PURPORT THIS AS A “GET RICH SCHEME.”

YOUR LEVEL OF SUCCESS IN ATTAINING THE RESULTS CLAIMED IN OUR MATERIALS DEPENDS ON THE TIME YOU DEVOTE TO THE PROGRAM, IDEAS AND TECHNIQUES MENTIONED, YOUR FINANCES, KNOWLEDGE AND VARIOUS SKILLS. SINCE THESE FACTORS DIFFER ACCORDING TO INDIVIDUALS, WE CANNOT GUARANTEE YOUR SUCCESS OR INCOME LEVEL. NOR ARE WE RESPONSIBLE FOR ANY OF YOUR ACTIONS.

MATERIALS IN OUR PRODUCT AND OUR WEBSITE MAY CONTAIN INFORMATION THAT INCLUDES OR IS BASED UPON FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF THE SECURITIES LITIGATION REFORM ACT OF 1995. FORWARD-LOOKING STATEMENTS GIVE OUR EXPECTATIONS OR FORECASTS OF FUTURE EVENTS. YOU CAN IDENTIFY THESE STATEMENTS BY THE FACT THAT THEY DO NOT RELATE STRICTLY TO HISTORICAL OR CURRENT FACTS. THEY USE WORDS SUCH AS “ANTICIPATE,” “ESTIMATE,” “EXPECT,” “PROJECT,” “INTEND,” “PLAN,” “BELIEVE,” AND OTHER WORDS AND TERMS OF SIMILAR MEANING IN CONNECTION WITH A DESCRIPTION OF POTENTIAL EARNINGS OR FINANCIAL PERFORMANCE.

ANY AND ALL FORWARD LOOKING STATEMENTS HERE OR ON ANY OF OUR SALES MATERIAL ARE INTENDED TO EXPRESS OUR OPINION OF EARNINGS POTENTIAL. MANY FACTORS WILL BE IMPORTANT IN DETERMINING YOUR ACTUAL RESULTS AND NO GUARANTEES ARE MADE THAT YOU WILL ACHIEVE RESULTS SIMILAR TO OURS OR ANYBODY ELSES, IN FACT NO GUARANTEES ARE MADE THAT YOU WILL ACHIEVE ANY RESULTS FROM OUR IDEAS AND TECHNIQUES IN OUR MATERIAL.

Results may vary, as with any business opportunity, you could make more or less. Success in ANY business opportunity is a result of hard work, time and a variety of other factors. No express or implied guarantees of income are made when using, joining or purchasing any of the products of services on CameronDirect.com