Monday Jan 14, 2019
Ep 038 Substitution Of Collateral
Substitution of Collateral is an advanced strategy that involves substituting the secured asset or property for another asset or property of equal or greater value. This strategy is very creative because you can use funds from one money source to finance multiple property or deals. The Note stays the same but the Trust Deed or Mortgage changes to include the new asset or property! And as you sell the current property or "collateral" the proceeds can be held in an ESCROW account until you find another property to finance. The beauty in this strategy is being able to use the same money source, Note and Terms you created with one Seller to fund multiple deals in the future. Listen in and learn how Jeff got a Seller to agree to Substituting Collateral on a principal balance of $385,000 at 2.5% interest. Can you borrow money at that low of an interest rate? Thats how this deals goes from good to phenomenal! using Creative Financing.
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