The First Time Homebuyer's Credit will soon expire. You must have a fully signed sales contract in force by April 30, 2010 and close by June 30, 2010 to qualify. First time homebuyer's may receive a credit up to $8,000, and move-up purchasers may be entitled to a $6,500 credit. There are some income and qualifications to receive the credit. Watch the video below from the IRS for a few more details.
http://www.youtube.com/watch?v=GkzB03uuGlg
Thanks, Cody
Tuesday, March 2, 2010
Wednesday, February 10, 2010
Radio Interview with Bill Valentine of Valentine Ventures
I just completed a telephone interview with Bill Valentine. In case you don't know Bill, he is a money manager and owner of Valentine Ventures in Bend, OR. Bill's clientele are investors with an investable net worth of $500,000 or larger. ( A special thank you to Chris Starling with Arbor Mortgage Group in Bend for referring my information to Bill.)
Bill was very interested in the mechanics of how my Partners in Profits program and the Perfect Tenant program works to fill the void in today's home ownership and investing market. The interview will air this Sunday, during the noon to 1:00 pm segment on station KXL 750 in the Portland area. Bill's program, "The Rich Life with Bill Valentine" is aired every Sunday from 11:00 am to 1:00 pm, and is heard on 10 radio stations throughout the state of Oregon. He also archives the show for future listening.
I hope you get the opportunity to listen to the program, not only this Sunday but on an ongoing basis. Here is a link to his website:
http://www.valentineventures.com/rich.htm
Thanks for listening.
Bill was very interested in the mechanics of how my Partners in Profits program and the Perfect Tenant program works to fill the void in today's home ownership and investing market. The interview will air this Sunday, during the noon to 1:00 pm segment on station KXL 750 in the Portland area. Bill's program, "The Rich Life with Bill Valentine" is aired every Sunday from 11:00 am to 1:00 pm, and is heard on 10 radio stations throughout the state of Oregon. He also archives the show for future listening.
I hope you get the opportunity to listen to the program, not only this Sunday but on an ongoing basis. Here is a link to his website:
http://www.valentineventures.com/rich.htm
Thanks for listening.
Tuesday, February 9, 2010
Indy Mac sweet deal at your expense
I just watched a short video and thought you might like to see this. It illustrates what our government is doing with our money, specifically regarding the mortgage industry. Do you wonder why mortgage modifications seem to be so tough and rarely get approved?
The FDIC has a special arrangement with One West Bank. One West Bank purchased the mortgage assests of IndyMac Bank back in 2008. They purchased these at 70% of the loan amount. They have a "arrangement" with the FDIC on how they reduce their risk in the event of default. In case you werent' aware, One West Bank is owned by a VP with Goldman Saks Bank and George Soros among others.
This video will make blood shoot out of your eyes:
http://www.thinkbigworksmall.com/mypage/player/tbws/23088/1385485
Forward this to everyone you can think of. Let me know what you think.
Cody
The FDIC has a special arrangement with One West Bank. One West Bank purchased the mortgage assests of IndyMac Bank back in 2008. They purchased these at 70% of the loan amount. They have a "arrangement" with the FDIC on how they reduce their risk in the event of default. In case you werent' aware, One West Bank is owned by a VP with Goldman Saks Bank and George Soros among others.
This video will make blood shoot out of your eyes:
http://www.thinkbigworksmall.com/mypage/player/tbws/23088/1385485
Forward this to everyone you can think of. Let me know what you think.
Cody
Sunday, January 31, 2010
Two New Programs
This posting is an update of my status and contains information of a release of two new programs. This is from an email that was targeted towards mortgage broker contacts I had while a Mortgage Wholesale Account Executive. You are likely aware that I left SunTrust Mortgage back in mid-December. I did not leave for a new job with another lender; rather, I took some time and spent the balance of December with my family, particularly with my son. He is a Marine and was home for the holidays on a pre-deployment leave. In early January, he was deployed to Asia and is currently on a Marine Expeditionary Unit (MEU) for 6 months.
I’ve also taken time to contemplate my next move. This is where you come in. I am not that interested in going back into the mortgage industry. 27+ years seems like enough. Yet, I have always been interested in real estate. I formed a real estate investing company a few years ago, but wasn’t active until last year. I’ve determined that NOW is the right opportunity to ramp up that business.
Part of my complete business model can benefit you as a mortgage broker/banker. There are two opportunities to partner with me for you to make some money. Allow me to outline both of these methods.
Partners in Profit
Our Partners in Profit program is where we fund our property acquisitions with private money. Not hard money, but from people with under-performing IRA’s or other investment accounts. People you know.
I am not interested in financing my property acquisitions through traditional bank or mortgage company financing. Rather, I am looking for private investors who are looking for returns better and/or more stable than what they may get elsewhere. As you may know, the IRS allows people to hold real estate or notes secured by real estate in their IRAs. I look for people with IRAs that are not comfortable with the volatility in the stock market, perhaps they don’t have the time to actively watch their investment accounts, and have an interest in passive income through real estate. My company would borrow money from the IRA, secured by a note and trust deed on the house being acquired, and pay a monthly interest payment for the duration of the note, usually 24 – 48 months.
I have a relationship with a local company that can assist with initiating the proper self-directed IRA to use for this purpose. You may know of one as well. They handle all the particulars, and I never have my hands on the money. It gets disbursed through escrow, the loan is secured by a Trust Deed and note, I set up and pay for a monthly contract collection account, and the investor receives passive income deposited directly back into their IRA account. Since I generally acquire these properties at a significant discount, their loan is secured in a high equity position. If anything goes sideways, they could take the house back at generally a 65 – 70% LTV, dispose of the property at market value and receive back there original investment plus the additional equity amount. It’s really a no-brainier for someone that isn’t happy with their current IRA performance and desires passive income. These notes are generally written for a 2 – 4 year period. They are not used to finance flips or short term holds, although sources for that type of funding are welcome.
Your opportunity is to source these Partners in Profit private investors and connect them to me. I am confident you have at least one client in your database that has an IRA that could work for this purpose. When I acquire a property and use funds from your referral, I pay you a 1% fee of the amount borrowed paid through escrow. You get paid simply for the referral; no loan application to process, no appraisal to order through an AMC, no loan package to submit to a lender and manage conditions. Sound Good?
The Perfect Tenant Program
I’m sure you have a drawer full of clients that are looking to become homeowners, but are not quite within the parameters required for approval of financing within the current lending restrictions. These are good people, deserve a home and might be eligible for financing if there was some sub-prime or Alt-A loan programs available. In 2 – 4 years, they could qualify for a standard loan program.
What we do is match these clients with the properties that are financed under the Partners in Profit program described above or another property I have in my inventory. We then draw up the appropriate Lease with Option to Purchase document for that client on that house. You continue to work with that client during the Lease Option period, making sure they are ready by the end of the Lease Option term, and handle the financing when they exercise the option to purchase. You get paid again!!
When the client exercises their option to purchase and we pay off the private lender, then we do it all again, and you get paid 1% again on the new use of the private funds. It becomes a repeated cycle of income for you.
This is a niche alternative for your clients that you would previously put into a sub-prime or Alt A type product. Today, we are all looking for a unique niche that sets us apart from the standard vanilla loan products available.
Now, a few things. First, if you have any questions, please call me or email me back. If you have any suggestions, I welcome the feedback. If you have no interest in this, let me know and I will remove you from further mailings. Most importantly, if you are interested in the programs outlined above and have candidates for either the Partners in Profit program or the Perfect Tenant Program, let’s talk. You can contact me through any of the avenues listed below.
Thank you for this opportunity to once again bring you a viable program that can prove profitable to all parties.
Cody Cox
Northwest Property Options, LLC.
503-682-1946 Office
503-784-1417 Mobile
503-685-6339 Fax
Email: northwestpropertyoptions@gmail.com
Website: www.northwestpropertyoptions.com
Blog: http://northwestpropertyoptions.blogspot.com
I’ve also taken time to contemplate my next move. This is where you come in. I am not that interested in going back into the mortgage industry. 27+ years seems like enough. Yet, I have always been interested in real estate. I formed a real estate investing company a few years ago, but wasn’t active until last year. I’ve determined that NOW is the right opportunity to ramp up that business.
Part of my complete business model can benefit you as a mortgage broker/banker. There are two opportunities to partner with me for you to make some money. Allow me to outline both of these methods.
Partners in Profit
Our Partners in Profit program is where we fund our property acquisitions with private money. Not hard money, but from people with under-performing IRA’s or other investment accounts. People you know.
I am not interested in financing my property acquisitions through traditional bank or mortgage company financing. Rather, I am looking for private investors who are looking for returns better and/or more stable than what they may get elsewhere. As you may know, the IRS allows people to hold real estate or notes secured by real estate in their IRAs. I look for people with IRAs that are not comfortable with the volatility in the stock market, perhaps they don’t have the time to actively watch their investment accounts, and have an interest in passive income through real estate. My company would borrow money from the IRA, secured by a note and trust deed on the house being acquired, and pay a monthly interest payment for the duration of the note, usually 24 – 48 months.
I have a relationship with a local company that can assist with initiating the proper self-directed IRA to use for this purpose. You may know of one as well. They handle all the particulars, and I never have my hands on the money. It gets disbursed through escrow, the loan is secured by a Trust Deed and note, I set up and pay for a monthly contract collection account, and the investor receives passive income deposited directly back into their IRA account. Since I generally acquire these properties at a significant discount, their loan is secured in a high equity position. If anything goes sideways, they could take the house back at generally a 65 – 70% LTV, dispose of the property at market value and receive back there original investment plus the additional equity amount. It’s really a no-brainier for someone that isn’t happy with their current IRA performance and desires passive income. These notes are generally written for a 2 – 4 year period. They are not used to finance flips or short term holds, although sources for that type of funding are welcome.
Your opportunity is to source these Partners in Profit private investors and connect them to me. I am confident you have at least one client in your database that has an IRA that could work for this purpose. When I acquire a property and use funds from your referral, I pay you a 1% fee of the amount borrowed paid through escrow. You get paid simply for the referral; no loan application to process, no appraisal to order through an AMC, no loan package to submit to a lender and manage conditions. Sound Good?
The Perfect Tenant Program
I’m sure you have a drawer full of clients that are looking to become homeowners, but are not quite within the parameters required for approval of financing within the current lending restrictions. These are good people, deserve a home and might be eligible for financing if there was some sub-prime or Alt-A loan programs available. In 2 – 4 years, they could qualify for a standard loan program.
What we do is match these clients with the properties that are financed under the Partners in Profit program described above or another property I have in my inventory. We then draw up the appropriate Lease with Option to Purchase document for that client on that house. You continue to work with that client during the Lease Option period, making sure they are ready by the end of the Lease Option term, and handle the financing when they exercise the option to purchase. You get paid again!!
When the client exercises their option to purchase and we pay off the private lender, then we do it all again, and you get paid 1% again on the new use of the private funds. It becomes a repeated cycle of income for you.
This is a niche alternative for your clients that you would previously put into a sub-prime or Alt A type product. Today, we are all looking for a unique niche that sets us apart from the standard vanilla loan products available.
Now, a few things. First, if you have any questions, please call me or email me back. If you have any suggestions, I welcome the feedback. If you have no interest in this, let me know and I will remove you from further mailings. Most importantly, if you are interested in the programs outlined above and have candidates for either the Partners in Profit program or the Perfect Tenant Program, let’s talk. You can contact me through any of the avenues listed below.
Thank you for this opportunity to once again bring you a viable program that can prove profitable to all parties.
Cody Cox
Northwest Property Options, LLC.
503-682-1946 Office
503-784-1417 Mobile
503-685-6339 Fax
Email: northwestpropertyoptions@gmail.com
Website: www.northwestpropertyoptions.com
Blog: http://northwestpropertyoptions.blogspot.com
Friday, January 22, 2010
Great short Video
You really need to watch this video. I think you will enjoy.
http://www.youtube.com/watch?v=jXeCAeACmJE
http://www.youtube.com/watch?v=jXeCAeACmJE
Wednesday, October 21, 2009
Thank you for reviewing my blog. Northwest Property Options, LLC. is a real estate investing company located in Wilsonville, OR. We are not one of those "WE BUY HOUSES" kind of company, but we do buy houses. Our goal is to be a seller's White Knight when it comes to selling a house where either the house or the home owner is in a distressed situation and they need to sell the house quickly. We are not real estate agents that want to list your home. We want to buy the home.
When working with Northwest Property Options, here is what we can help you avoid:
- Hassles that comes with selling your house
- Repairs, updating or even cleaning your house in preparation of sale
- Tying up your house is a six-month listing
- Renting and trusting your home to strangers
- Trouble with your mortgage company
- Bankruptcy and ruining your credit
- Wasting time with a buyer who can't get a loan
- Disappointment when the buyer changes their mind
- Stessing about how long unitl hour house sells
- Leaving your house vacant and vulnerable
- Paying closing costs, commission or other fees
We handle all the paperwork and make all of the preparations. You won't need to worry about cleaning or repairs. We'll take care of those issues. Now compare that with the alternative of seeling the house yourself or through an agent. Within the next 30 - 6- days, your house could be sold.
Please visit our websites for more information and the opportunity to see if we can help. Our sites are: www.northwestpropertyoptions.com and www.SellHousePortlandOR.com.
Thanks, Cody
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