My name is Jeffrey D. Smith. Maybe you’ve tried to qualify for a loan to buy your next home, and you’ve been turned down at every bank. You have some money for a down payment and you have a steady job, but you’ve had some challenges keeping good credit. Maybe you have self-employment income that is difficult to document? Maybe you don’t have enough assets to provide a personal guarantee for the loan?
You feel that paying straight rent is just throwing away your hard earned money, and you’re tired of your landlord raising your rent every chance he gets? And you don’t get any of the tax benefits of home ownership, because the government disallows those tax benefits for renters.
What if you could prove your worthiness to buy your next home and at the same time help to solve a problem for someone?
You can buy with 10% down payment, plus your usual closing costs.
You can buy with a fixed annual interest rate. No increases! (Try asking your landlord not to increase your rental payments for several years.)
You can buy with many years down the road before a balloon payment is required. You’re not pushed into getting another loan before you’re ready.
You can buy with instant financing; that means no long wait for bank approval.
I have many home sellers who need to sell now. They have a big problem. You can be their solution and they can be your solution.
Let me show you a hypothetical example (the price and terms vary depending the specific area). Suppose you could buy a nice house in a nice area with these terms:
|Total Cash at Closing||12.00%||$27,470.00|
|Minus Closing Costs||-2.00%||-$4,580.00|
|Contract Purchase Price||100.00%||$228,890.00|
|Annual Interest Rate||7.6166%||fixed|
|Amortization Periods||446.4059||(37.20 years)|
|Maturity Periods||60||(5.00 years)|
|Monthly Principal and Interest||$1,390.00|
|Monthly Taxes and Insurance||+$180.00|
|Total Monthly Payment||$1,570.00|
In 60 months, the appreciated value will be about $265,882 (at 3.00% per year). The balloon payment of $200,000 is about 75% of the appreciated value, which qualifies for a rate and terms refinance to reduce your monthly payments. Your monthly principal and interest is fixed at $1,390.00, so you can plan your budget for several years.
That’s a bargain for a nice home in a nice area! You are the owner of record, so you get the tax benefits of deducting the interest portion from your taxable income. After a few years of steady, on-time payments you may even qualify for a better loan at a lower interest rate! Qualifying for a rate and terms refinance loan is much faster, easier, and much less costly than qualifying for purchase loan, especially with a strong payment history on the home that you already own.
You are helping to solve a problem for the home seller. He needs to sell now and he is willing to let you take over his payments.
Your closing costs will pay for your attorney to handle the legal paperwork and to look out for your best interests. We can recommend an excellent law firm or you can retain another attorney of your choosing.
We are not Realtors. We are real estate entrepreneurs. We earn our profit as created equity that you pay to us for bringing together the seller and the buyer (you) for a win-win solution. You pay our created equity in the form of an assignment fee at closing and a new note for the remainder of our created equity. The note payments to us are included in the calculations shown above, so that the monthly debt payment is your total monthly debt payment.
We can offer flexible solutions that Realtors cannot offer. Tell us what you need and we’ll get to work right away. When we find a deal that fits, we’ll explain it to you, and help you retain an attorney. You are not obligated to buy until you approve of the property and the terms, and then sign the paperwork. We only need about 7 business days to complete the transaction after your approval.
Beautiful Homes Available
These homes are nice and they are in nice areas. The neighborhoods are great and the schools are excellent. Many of our homes are less than 5 years old and in near perfect condition. Some of them are excellently restored and renovated classic homes in well established neighborhoods.
I like to focus on homes that have beautiful clean kitchens and master bathrooms, big master bedroom suites, and big fenced in yards for the kids and your pets. Many of them have big 2 car garages and plenty of storage. If you prefer something a little smaller and easier to maintain, then I can provide that, too.
I will explain to you the simple steps you can take to buy a home. These steps are easy and quick, and they can be very exciting, especially when you start looking for your new home.
Buying your own home from me is very easy. You can have your very own home and be a proud homeowner. Nearly every one of our past buyers had been turned down repeatedly by banks and mortgage brokers, even by banks that advertised “bad credit okay.” They never thought they would EVER be able to buy their own home for themselves and their family until they got into my program.
You will learn all of the details you need to get into your new home in as few as 7 to 10 days.
There is absolutely no charge or obligation for this service, because I make my money on the sale of the property. If you like what you see, then let me know and I will get you started by sending to you the list of properties I have available. If you decide that this is not for you, then that’s no problem. There are no hard feelings.
It’s really very simple and straightforward.
Well let’s get started
First, let me tell you where I buy the properties that I offer for sale.
I receive many calls, every day, from people who have homes they want to sell. If I think these homes will fit the needs of buyers like you, I will acquire these properties and then offer them to my “Registered Buyers.”
I buy from sellers who maybe can’t get their houses sold or maybe they just want to sell quickly. There are as many reasons as there are sellers. It doesn’t matter to me as long as the deal I make solves the Seller’s problem, is profitable for me and is right for one of our “Registered Buyers.”
I am not in the business of taking advantage of distressed Buyers or Sellers. I believe that I will make the most money by helping people, and I sleep better at night because of it.
By the way, if you are interested in selling a home, then please click here. I will make an offer on your home within 24 business hours, and then you can take your time to decide whether that offer is right for you. I am not a high-pressure salesman. I want a win-win solution.
I acquire many properties and I am constantly looking for good people to buy these nice homes in nice areas. I have a ton of people who want to buy my houses. In a minute, I will explain how I will structure the home purchase deal with you. First, I want to tell you the second way that I can help you find a home.
If I am offering homes that will not fit your needs or you feel there is just too much competition between our buyers for the homes that I have (I have so many people in our program), that you want to buy some other house that is for sale, then I can still help. Here is what you do:
Once you are registered with me, you can also look at every home listed “For Sale by Owner” or “For Rent” that is in the paper, or online, or has a sign in the front yard. If you look at these properties and find 3 to 5 that you like, I can usually get on the phone and put together a deal with the seller of at least one of them that will make sense for you. Just let me know which properties you like.
I will negotiate with the seller so that I can structure the purchase in a way that will work for your situation. These turn out to be win-win-win situations for the Seller, for me (the middleman entrepreneur) and for you, the end Buyer.
Now you know how you can find your new home, either through the list that I send out every week or by tracking down a “For Sale by Owner” or a “For Rent” property.
How I Structure the Deal That You Will Buy from Me
I will sell the property to you on “Seller Financing” terms with an affordable down payment.
That means that you are buying the property from a seller who has agreed to sell the property to a buyer who will take over the payments on the existing loan. This is called “Taking Title Subject to the Existing Debt” and it is legal, ethical and happens every business day throughout the country.
I have a contract with the seller to buy the property “Subject To” the existing debt. You will buy that contract from me by paying an “Assignment Fee” at closing in the form of cash plus a note. The cash will apply to the purchase price of the home and will increase your equity when you eventually refinance the house with a 30-year mortgage loan from a bank. These deals allow at least five years for you to qualify for refinancing and for the house value to appreciate.
The minimum “Assignment Fee” that I accept is about 10% of your purchase price plus a “wrap around” note that includes the remainder of my equity. So, if my equity in the deal is $50,000 for a $250,000 home (I owe $200,000 to the seller), then you will need $30,000 cash (10% fee of $25,000 plus about 2% closing costs of $5,000). You will sign a wrap note for the remaining $225,000 of the purchase price. My remaining $25,000 equity is wrapped inside that $225,000 note; my $25,000 equity plus the $200,000 owed to the seller. That will close the deal and you can move into your house. I pay the seller on his $200,000 loan from the payments that you pay to me on $225,000 that you owe to me, and I keep the difference. (Actually, you send your payments to a neutral 3rd party loan servicing company to protect everyone in the transaction. Then the loan servicing company pays everyone, the mortgage lender, the seller, and me, in priority order as required.)
That makes sense, right?
Every property is different and has a different “Assignment Fee” amount that is based on your purchase price. When you register online, just tell me how much you have for the “Assignment Fee” (plus closing costs), and then I will try to send to you only the houses that fit your specifications.
For example, if you have $25,000 for the “Assignment Fee” plus closing costs, then don’t ask for my list of properties that require $35,000 “Assignment Fee” plus closing costs. That will just disappoint and frustrate you. I encourage you to be realistic about what you can afford, so that your payments fit within your budget.
Remember, my mortgage broker will qualify your Ability to Repay [ATR], so please don’t waste our time or your time by looking for “too much house”.
I have homes available that range from a cash investment as low as $25,000 (nice homes in nice areas) up to about $250,000 (exquisite luxury homes in gated communities). You can expect the home value to be about 8 to 10 ten times your cash assignment fee plus closing costs.
My goal is to help you eventually to qualify for a mortgage loan to refinance the house, pay off the existing debt, and dramatically lower your monthly payments. Please remember that you do NOT have to qualify for a bank mortgage loan now.
I work with a very good, very reputable, very understanding mortgage brokerage firm. They are “good people” and I would like for you to talk with them. Please understand that I don’t expect you to be able to qualify for a mortgage loan right now, because that is probably why you are here now.
I want to find out how soon you will be able to qualify for a mortgage loan. Some people may qualify in only a few months. Other folks may need a year or two years or five years. I don’t care how long it takes. I just don’t want to put you into a program that doesn’t give you enough time to qualify for a mortgage loan for when the time finally arrives.
My recommended mortgage brokerage firm is thrilled to pre-qualify you for a mortgage loan, because they know that they have a good chance of getting your business down the road when you are finally able to obtain a mortgage loan. They will not be nasty to you like so many other mortgage brokers, just because they can’t do a loan for you right now. They know that my referrals to them are probably not ready to qualify for a mortgage loan today. They are like us. They are in this business for the long term by building mutually beneficial relationships.
The first thing that I want you to do is to make a quick phone conversation that takes maybe 20 minutes. You don’t even have to go meet with them, and they keep everything 100% confidential.
By the way, there is nothing that I haven’t seen before. You won’t shock me, no matter how bad your current situation. Remember, there were over 1 million bankruptcies in the United States just in the last year alone. A lot more people than that have bad credit. My recommended mortgage brokerage firm will just ask you a few questions about your income and your job (or lack thereof). They will need a small nominal fee from you to pull your credit report to see whether there are any surprises. They will tell me exactly how long you will need before you can get a mortgage loan from a bank.
Just so that you know, I find that there are maybe 10% of registered buyers that qualify for a home loan right now. You may have thought that you had bad credit, but it turns out after my recommended mortgage brokerage firm looks at your credit report that the bad things on your credit that you thought were so bad, didn’t matter as much as you thought.
If this happens, then it’s very nice, because now your choices greatly expand. You can buy almost any home on the market that is within your price range. Of course, I would still be happy to sell one of my homes to you, but I also want to give you the opportunity to see what else is available out there.
I will connect you with a real estate agent. The agent is someone who works with buyers as their main job. Someone who isn’t pushy, and will take the time you need to help you find a property and will hold-your-hand through the process. I look very hard to connect you with good agents, the real professionals. This agent will either meet with you in person and sit in front of a computer with you and pull listings or send email to you or they will snail mail the listings to you. The choice is yours.
Please remember, that will only be for about 10% of the folks who are reading this page. Our expertise is working with the other 90% of folks that want creative solutions to buying their home.
After you talk to the Mortgage Broker, I will send to you an official “Buyer Registration and Qualification” email. Then you are officially registered as one of my potential buyers. Please remember, all this service for you is FREE and there is absolutely no obligation.
Here is the fun stuff…
It’s Time to Start Looking at Houses!
There are two ways that we can do this.
First, I want to sell my properties to you. Every time I get a new property in the area where you are looking, I will send to you an email describing that property and the financing terms.
Please remember, I have many people like you who are actively looking for a home. As of last count, it was about 183, and I get more every day. So, when I get a new home for sale, those homes move very quickly.
The problem for me was how could I be fair about this? I thought about it for a long time. Whom should I notify first about the new properties? Should first notice go to the people who are on the list for the longest time, or should notice go to the folks who are ready to buy “right now”? The folks that I think will qualify in the shortest period of time. I went on and on with this and I finally came up with what I think is a very fair solution.
I just send the email to everyone at the same time and then it’s “first come, first serve.” Nothing else matters. The first buyer who wants it, gets it.
Now you may not feel comfortable acting quickly in the beginning and I certainly will not push you. I let you tell me when you’re ready to go. What happens most of the time is, at first, when folks become “Registered Buyers” they take their time, they look at the properties that I have for sale. They pass on a few of them, because they weren’t exactly what they were looking for or they want to get comfortable with the process.
After a while, our “Registered Buyers” start getting comfortable. They see what is available for the money they can afford, and they get to know the different neighborhoods. They become comfortable with the process and they realize that these homes are for real and that I do what I say I do. That is when they feel comfortable about making an offer on a house on very short notice. I won’t push you, because only you know whether the house is right for you. If it’s not right for you, then just wait. You may not get that one, but I am always getting new property. I don’t want you to be a hasty buyer. Only you know your comfort zone.
As soon as you get your official “Buyer Registration and Qualification” email, I will start sending to you emails that describe the properties that fit what you told me. Sometimes I may only have one or two a week, while other times I may have 15 or 20 a week. It all depends on how many houses I could acquire that week.
I will email to you the address of the property and a brief description of it. If it looks interesting to you at all, I encourage you to go see it immediately. Drive by the house. I find that 75% of the time, you can tell whether a house is for you by looking at the exterior, the yard, and the neighborhood. Maybe it’s more accurate to say that you can tell that it’s NOT for you, by looking at the outside of the house and looking at the neighborhood.
If it looks interesting to you, then it’s time to take action and call me. A member of my team will schedule a time that is convenient for both of you to show the property to you. They will get you inside so you can look around at your leisure. Check the condition and get a feel for the size and the layout.
Then, I suggest that you just sit down on the couch or the floor and get a feel for whether this house is your next home. If it feels right for you, and you’ll know when it does, something thrilling happens when you find a house that you know is going to be YOUR home. When you decide, then it’s time to take the next step.
Before I go any further, I want to ask from you for a favor in advance. If you drive to the house without one of my representatives, then please do NOT knock on the door. Someone may be living in the house. The occupant may be the previous owner who hasn’t moved out yet, or it may be a tenant who is entitled to their privacy. I ask again, please, do not disturb the occupant. That just creates many problems for me, because I have so many people looking at these properties. It’s not fair to those occupants when people are knocking on their door all day.
Now let’s move to the next step. It’s time to fill out the paper work. When you meet with my representative to view the property, they will bring all of the necessary paperwork. When you say, “We want it!”, my representative will fill it out and explain it to you.
That paperwork explains the move-in date, the price, the terms, the monthly payment, the length of the contract and it lays out in the agreement who is responsible for what, and what happens if one of us defaults on the agreement. One of the valuable things that I do is treat you like the owner as soon as you move in. I very much trust you to take care of the property, as it is now yours. After all, you are buying it now and you will receive the deed now. It is in my best interest to see you succeed in the purchase of this home and that, by the way, is how I make the most money. Having happy people enjoying their home that they couldn’t have bought any other way is a lot of fun.
If you don’t understand the paperwork, please feel free to take it to your attorney before you sign it. I will NOT pressure you to buy. I want you to be 100% comfortable with your decision. This is a legally binding agreement and you only want to sign it when you are fully and completely aware of your decision to buy.
My representative has the authority to approve you as the new buyer of the home, subject to you receiving and approving of the legally required disclosures. The only way the agreement is sealed is when you deliver the “Assignment Fee” of 10% of the total purchase price to escrow. I only accept certified funds to activate the purchase agreement.
For example: A wire transfer, a cashier’s check or a certified check. I cannot accept cash or personal checks or credit/debit cards. You must close the purchase by transferring into escrow the funds for the “Assignment Fee” and other closing costs, and sign the closing documents.
I conduct business in this way, because I do not want to tie up the property in an agreement with someone who ends up not being able to come up with the money or who needs more time to make a decision. I may have others waiting in line for a chance at that property and it’s not fair to them when I let someone tie up a property without being truly serious or capable of closing. As I mentioned before, it really is “first come, first served.” With that said, you might want to drive immediately to your bank with our representative, when you sign the agreements and have a cashier’s check drawn up to “acquire” the property for you and complete the deal.
With all that said about “acquiring” the property, just remember that I don’t want you to feel pressured to make a decision before you are ready. I will always get more properties next week if you aren’t 100% sure of this one.
Well, that’s it. I hope that I have answered all of your questions. If you have more questions, then feel free to email me. The only thing you need to do to get started is just scroll down the page and fill out the online form. It asks a few questions to put me on the right path to finding the perfect home for you. Make sure to give me your primary email address that you regularly check.
I have had many problems sending email to free accounts like hotmail and yahoo. I’ve also had problems sending email to AOL addresses. If that’s all you have, then that’s all right. I want to make sure you get the house listings when I send them out.
I hope that you’ve learned from this program and that it has convinced you that what I offer is real. My team and I are real people with a desire to help you achieve your goals. I tell all of the people who work with me that I am here to solve problems. “The more people I help, the more money I make.” Yes, I am in it for the money. This isn’t a charity, but it is interesting how the more one gives, the more one receives. It’s Karma and the Golden Rule all rolled up together. I will do my best to help you find your dream home. Now it’s your turn. It’s time for you to take action.
Just click on the link at the bottom of this web page and fill out the “Buyer Questionnaire.” The form only takes about 5 minutes. That’s 5 minutes that can change your life. As soon as you do, the wheels start turning and my little machine goes into action for you exactly as I described.
Remember, this “Buyer Registration” is 100% free. You are not obligated to buy my properties in any way. As a matter of fact, I don’t want you to buy my property if it isn’t right for you.
Thank you for reading this (rather long) web page. Your dream of home ownership can finally be realize by just taking action and getting started now by filling out the form.
Whatever you decide, I wish you the very best of all good things.
Frequently Asked Questions
1. How can you offer non-recourse instant financing?
The property seller is willing to let you take over the payments on the mortgage loan, because he needs to sell now. That means that you get title to the property and the existing loan on the property stays in the seller’s name. The seller will sign an Authorization to Disclose Information to allow you to talk any time you want with the lender about the loan.
In many cases, the seller will carry a wrap-around note that includes payments for his equity and payments for the existing debt. If you substantially default on the payments, then the seller can initiate a foreclosure action to take back the house.
I will arrange for a bank collections department to collect the total payments and then to disburse those payments to the lien holders. If a payment is missed, then the bank will immediately notify all lien holders. The bank will also provide periodic statements, and the seller can always check the account status online. The seller will always know what’s happening with the loan.
2. What if the seller’s mortgage loan has a “due on sale” clause? Will the lender foreclose on my house?
About 99% of all mortgage loans have a standard “due on sale” clause written into them. That gives the lender the option, but not the obligation, to accelerate the loan and get paid off. When the loan payments are kept current, the last thing the lender wants to do is stop that cash flow and gain a liability of a non-performing loan or worse, a vacant property. Thousands of houses have been bought subject to the existing loan and the lender has allowed the conveyance.
Lenders are in the business to receive payments on their loans, not take back properties, especially properties with little or no equity. It just doesn’t make financial sense for lenders to cancel that income stream and foreclose on the property. Lenders have credit scores, too. Taking back too many foreclosed properties damages their credit and impairs their ability to make new loans. Lenders DO NOT WANT to foreclose on your property, especially when the payments are current and the house has an owner-occupant. With over one million properties foreclosing this year for default, why would any lender want to foreclose on a performing loan and further damage their own credit?
These bargain deals go fast, so it’s first come first served. Let’s get started finding your next home! Click here.
PS – Just a quick note: I am not a licensed real estate broker. I am not soliciting you to list your property or to represent you. I am acting as a investor and only represent myself in any transaction. Please read my Disclosure statement by clicking here.