Method is clear (if covered quickly); very easy to implement with the "skip tracing software" (which is easy to find); and thanks for the commentary elucidating that method, from roughly 25:00 to 26:00. great!!!
Thanks BP for this great interview. I really like how the hosts encourage the guests to break down terms like portfolio deal and seller concessions to make sure everyone is on the same page. Axel thank you for sharing your experience, you dropped some serious knowledge and encouragement on us here. Wish you continued success!
You can drive the seller credit, however, the property tax will be calculated on the purchase value so be ready to shell up to 2% each year on the uplift value. As the county assessor in the majority cases will go will purchase value to base there property tax on
Are you still able to get the cash back through seller credits? I’m working on a residential deal in Michigan with a conventional loan and my agent said I can only ask for 2% of purchase price in seller credits. Is this only with a commercial loan?
Not yet clear on the "seller credit" method. Maybe the hosts can follow up with a video with a numerical example or two. thank you all again (P.S. second episode? wow! can't wait!)
When you were sending emails and letters to owners and you saw an attorney as the registered owner were you still sending out the email or did you skip?
Still brand new to educating myself on Real Estate but this was probs the most helpful podcast episode I've listened to. I like how you guys and the guest covered the early days through right now and what that path looked like, as it helps put things into perspective (and makes things less overwhelming) if you're still trying to learn the basics like me. Would love to see another interview with this guest at some point later down the line
9:53 📌🌟 Chris Lopez , could you invite please ,some "developers" of duplexes and triplexes? (new constructions), and talk about the prices of "turnkey" construction, Best regards !
I'm a multi-millionaire and I'm really into this stuff but people better understand that you have to have Deep Pockets or really good technical skills to make this work you need the money to buy an electrician or a plumber or you have to be an electrician or a plumber
My last deal blew up on closing day trying to do seller financing. I was working with a broker, that was pretending like they were the actual lender (found out later). I was up front with the fake lender about the seller financing agreement and fake lender told me no problem. Closing day comes, the real lender sees the details and refused to fund. Wasted a bunch of my time and money.
@@AleksandarPopivoda the same scenario described in the video. Seller was financing part of my down payment and was taking second position. Could've done it with separate documentation and achieved the same results. Again, the so called "lender" was cool with it when I told her. Not impossible, could've easily been done.
It is net equal, the seller will not be taxed on it due to reporting the $40k on taxes as an expense or the IRS views such a seller payment as a reduction in the net gain of the home.
Axel is the REAL deal! And he’s only getting started. 🔥 Fantastic interview and cannot WAIT for the next one!
Love the method from roughly 21:30 to 26:00!!! This one method alone will dramatically & positively impact my real estate investing.
Method is clear (if covered quickly); very easy to implement with the "skip tracing software" (which is easy to find); and thanks for the commentary elucidating that method, from roughly 25:00 to 26:00. great!!!
Thanks BP for this great interview. I really like how the hosts encourage the guests to break down terms like portfolio deal and seller concessions to make sure everyone is on the same page.
Axel thank you for sharing your experience, you dropped some serious knowledge and encouragement on us here. Wish you continued success!
Wow..... Finally... No fluff, all real talk info!!!
This show was perfect. Thank you.
Great episode! This guy was great with giving us start to finish with how he started out.
Amazing podcast. Thank you!
very educational & inspirational. I am going to watch this agan!
again
Great interview, he is so young and motivated.
When the 2nd episode will be available? It is very interesting to see different creative structures of making a deal in Real State.
Axel's second episode is premiering this afternoon!
@@BuildingWealthWithRealEstate Thanks, Chris!
You can drive the seller credit, however, the property tax will be calculated on the purchase value so be ready to shell up to 2% each year on the uplift value. As the county assessor in the majority cases will go will purchase value to base there property tax on
Are you still able to get the cash back through seller credits? I’m working on a residential deal in Michigan with a conventional loan and my agent said I can only ask for 2% of purchase price in seller credits. Is this only with a commercial loan?
No. As Axel said - this is only when you work with some private lenders and bridge loans. Not with conventional loans.
Not yet clear on the "seller credit" method. Maybe the hosts can follow up with a video with a numerical example or two. thank you all again (P.S. second episode? wow! can't wait!)
I'm thinking the same thing. I'm hoping they do a deeper dive in episode 2.
Where can I find literature about the creative financing that was described in the video? Books, articles, posts, etc. Thanks.
When you were sending emails and letters to owners and you saw an attorney as the registered owner were you still sending out the email or did you skip?
28:50 Traditional financing vs creative financing with seller credits
Still brand new to educating myself on Real Estate but this was probs the most helpful podcast episode I've listened to. I like how you guys and the guest covered the early days through right now and what that path looked like, as it helps put things into perspective (and makes things less overwhelming) if you're still trying to learn the basics like me. Would love to see another interview with this guest at some point later down the line
Great content 👌
Another great episode
love these shows
Thank you!
Where is episode 2?
Premiering this afternoon!
Could I be referred to your hard money lender?
9:53 📌🌟 Chris Lopez , could you invite please ,some "developers" of duplexes and triplexes? (new constructions), and talk about the prices of "turnkey" construction, Best regards !
What’s his name ?
I am still completely confused about the seller credit but it sounds extremely lucrative
it reduces the down payment, aka, out of pocket expense
I'm a multi-millionaire and I'm really into this stuff but people better understand that you have to have Deep Pockets or really good technical skills to make this work you need the money to buy an electrician or a plumber or you have to be an electrician or a plumber
He seems to be skipping past the details and not diving deep into the specifics. Just kinda scrolling through it
My last deal blew up on closing day trying to do seller financing. I was working with a broker, that was pretending like they were the actual lender (found out later). I was up front with the fake lender about the seller financing agreement and fake lender told me no problem. Closing day comes, the real lender sees the details and refused to fund. Wasted a bunch of my time and money.
Why did you need a lender if you were using a seller financing? Unless you wanted your lender to be in the second position. That's mission impossible.
@@AleksandarPopivoda the same scenario described in the video. Seller was financing part of my down payment and was taking second position. Could've done it with separate documentation and achieved the same results. Again, the so called "lender" was cool with it when I told her. Not impossible, could've easily been done.
Great podcast!
Thank you!
Is seller credit "net equal" for the seller? I don't believe so. Won't they will be taxed as gain in that additional sales price of $40k?
It is net equal, the seller will not be taxed on it due to reporting the $40k on taxes as an expense or the IRS views such a seller payment as a reduction in the net gain of the home.
I'm sour that brandon is gone.
🎯
increase the loan amount for cash back and less out of pocket 0.0
Why are there so many words blanked out