Our next NOTE INVESTORS FORUM Virtual Meetup is May 13th and you can register now!
They are informative and also help identify market opportunities along with solving challenges and avoiding key blind spots we will be facing!
AMERICA IS NOW OPEN FOR BUSINESS……NOW WHAT?
Special panel of seasoned note and real estate experts
What opportunities they see today, 3 months, 6 months, 12 months and beyond…
Purpose > Persistence > Success
- Imran Sohrab Amarcapital Washington, DC (from PHX)
Specializes in 2nds
- Richard Thornton American Note Capital Silicone Valley
- Michelle & Brian Winberry J6 Enterprise Group Kansas City
Note, fix/flips, wholesale and, and, and
- Allan Woodruff Black Pearl Funding, LLC Prescott, AZ
Fix/Flip, landlord, notes AZ and IN
To Your Success!
I had the distinct peasure to be a guest on the Podcast–Passive Wealth Stratagies for Busy Professionals hosted by Taylor Loht.
Fantastic article. Wow, great insight by a man of wisdom. A guy in his mid-90’s who has seen it all–Charlie Munger of Berkshire Hathaway.
“I don’t think we’ll have a long-lasting Great Depression…. But we may have a different kind of a mess. All this money-printing may start bothering us.”
By Wolf Richter for WOLF STREET.
There is something refreshing during these insane times when a guy in his mid-90s who has seen it all and has been successful at navigating it, and who, during the last Financial Crisis, was buying stocks and entire companies hand over-fist, now says that he has never seen anything like this before, and that he doesn’t know what to do except to sit tight. And they’re not buying the rally, and they weren’t buying the crash.
Charlie Munger, vice chairman of Berkshire Hathaway, was talking with The Wall Street Journal about the current situation and how he and Warren Buffett are looking at it. And they’re not buying.
Topic: Brainstorming | Risk Management | Opportunities
Managing the Challenges of a Black Swan Event
Special Guests: Enrico d’Argenzio—Commercial Strip Center Landlord–comments on effects to retail strip centers
Guillermo Perez-Vargas –Large SFR property owner comments on effects to landlords
Sam Sutton- High volume property flipper
Jeff Peterson-Builder | Developer | Hedge Fund Manager
Matt Boone- Attorney | Loan Originator
Cities and states across the country are already suspending evictions and foreclosures in response to the spread of the coronavirus, but the federal government is taking the biggest step so far to keep people in their homes.
President Donald Trump announced Wednesday that the Department of Housing and Urban Development is suspending all foreclosures and evictions until the end of April.
Beyond that, the Federal Housing Finance Agency announced Wednesday that it is directing Fannie Mae and Freddie Mac to suspend foreclosures and evictions for “at least 60 days.” That would mean the moratorium lasts through mid-May, at least.
According to the FHFA, the foreclosure and eviction suspension applies to homeowners whose single-family mortgage is backed by either Fannie Mae or Freddie Mac.
“This foreclosure and eviction suspension allows homeowners with an Enterprise-backed mortgage to stay in their homes during this national emergency,” FHFA Director Mark Calabria said in a statement.
Given that Fannie and Freddie are the largest mortgage financers in the country, the move is a sizable one.
“As a reminder, borrowers affected by the coronavirus who are having difficulty paying their mortgage, should reach out to their mortgage servicers as soon as possible,” Calabria added. “The Enterprises are working with mortgage servicers to ensure that borrowers facing hardship because of the coronavirus can get assistance.”
Earlier this month, the FHFA and HUD reminded mortgage servicers of their options for borrowers affected by the COVID-19 outbreak.
Included among those options is payment forbearance, which would allow affected borrowers to suspend their mortgage payment for up to 12 months due to hardship caused by the coronavirus.
As for HUD, Trump made the announcement during a Wednesday press conference discussing the growing impact of COVID-19.
“The Department of Housing and Urban Development is providing immediate relief to renters and homeowners by suspending all foreclosures and evictions until the end of April,” Trump said. “So, we’re working very closely with Dr. Ben Carson and everybody from HUD.”
Fannie Mae has approved attorney foredclosure fees. One of the first questions that is asked regarding any real estate foreclosue is “What does it cost”? This topic was discussed at the February 2020 NoteWorthy Summit. Some Attorneys charge by the hour. Some attorneys charge by Fannie Mae allowable limits. My experience is do NOT hire an attorney by the hour. The attached list details allowable costs by state. But………….keep in mind there are other costs. Ask your attorney for those details so you know your options. For instance, one of the more expensive counties for foreclosure is Allegany County(Pittsburg). The Sheriff charges $2,500. Yikes!!
The costs are different for Land Contracts/Contract For Deeds. That may be a different process which is referred to as forfeiture. Some states now view Land Contracts/Contract For Deeds just like a foreclosure. Some states have a relatively short process(Texas-60 days). Other, Florida, New York, New Jersey may take 2+ years to foreclose. Typically the “sand” states have a short fuse–Arizona, California etc. As an investor, Capstone avoids the states North of and including, Maryland/New Jersey due to the anti-investor seniment. Be smart, check out the laws first before you invest. If you own a real estate note, or contract, performing or non-performing, Capstone Capital USA buys notes and mortgages. Give us a call.
As a 23 year resident of Phoenix, my only thought is OMG. Yikes, not another LA. NOOOOOOOOOOOO! But with the growth there will be many opportunities!!!
Metro Phoenix is expected to grow by 1 million people during the next decade.
That will be like adding a city the size of San Jose, California, or Austin, Texas, to the Valley.
The billion-dollar question is where all those new residents will live.
Most of the available land is on the edge of the West Valley and deep into Pinal County in the southeast Valley.
About 5 million people already call metro Phoenix home, and the region already faces infrastructure and housing affordability issues. CLICK HERE TO READ MORE
The February 2020 Note Investors Forum Meeting
will be Wednesday, February 5th 11:30am-1:30pm
Special Guest Speaker: Howard Tenn
Risk vs Reward | Greed vs Fear
Howard is a protiage of Stan Harley, January’s guest speaker. He will follow-up on Stan’s presentation. Preparing for 11/22 —
Prepare yourself for the next BIG Correction.
What happens when the music stops?
Being a former financial planner, Howard understands this topic.
SAVE THE DATE.
MARK YOUR CALENDAR
YOU WANT TO BE IN ATTENDANCE!!!
FOR WEDNESDAY FEBRUARY 5th
NOTE INVESTORS FORUM
What happens when the music stops?
The room is maxed out @ 55 attendees.
Click on the link below to reserve your spot.
$16.83 includes networking, education, lunch, tax and tip.
$20 at the door.
GREAT STARTER SHORT TERM PARTIAL
Location: Belding, MI
Note Type: CFD
Payments Purchasing: 40 pmts
Remaining Term: 64 pmts
Monthly P & I $300.24
Seasoning: 132 months
Est Mkt Value: $89,000
Current upb: $15,182
Interest Rate: 10%
LTV | ITV: 17% | 13%
OFFERING PRICE: $10,228
Additional Assets Available