Hofer Schmidt Uncategorized Private Residential Mortgage

Private Residential Mortgage

Private Residential Mortgage

I have come across many note sellers that ignore the advice of being prepared. Properly structuring a note for resale can be the difference between selling the note fast and with little friction as opposed to selling yourself short or worse, not selling the note at all. In order to properly structure a mortgage note for resale is as follows:


1) Get the biggest down payment possible. 25% is the Note Buyer’s ideal amount in a perfect world although, you can definitely get away with 15% – 20% if need be. Anything under 15% equity becomes very risky for a Note Investor. In the case of a down payment under 14% equity, you will have a very tough time getting a high bid on that note. Anything under 10% down, will unlikely sell at all.  Housing Market!


2) Make sure you (the seller), pull credit on the potential borrower. 600 FICO score – 700 FICO score would be ideal. Remember; the worse the credit score is, the bigger the down payment you should require! Make sure you keep a copy of the credit report so you may present to the mortgage note investor underwriting the transaction. As far as credit scores, 650 or higher is considered great to excellent credit. 610-649 is good, 609-590 is fair 589-500 is poor and below 500 – don’t even bother. Also try to gather D.T.I. or Debt to Income information from the borrower as well. How much money she/he has coming in per month verses what dollar amount is going out per month. A standard credit report will show you what the borrowers monthly bills are. All you need to do after that is get an accurate dollar amount of what the borrower truly makes after taxes. This way there will be no surprises for you or the Note Investor and this will insure you the highest bids out there! 45% is the max D.T.I. ratio you should allow. This means, if the borrower’s income is $5,000.00 per month, 45% DTI ratio would be $2,250.00 (5,000 x 0.45 = 2,250.00) in debt per month. The borrower only owes 45% of what they make to monthly debt.  Housing Market!


3) It helps tremendously if the seller orders and completes an appraisal before submitting the note to a Note Buyer. The reason being, presenting an exact legal appraisal to a Note Investor allows for a more accurate bid, thus a hassle free transaction. This way when the note is underwritten, there will be no surprises on the collateral property whatsoever. This step is not necessary although, by doing this your are drastically increasing your chances of a very smooth note sale.


4) Include a high interest rate with the shortest term possible. Meaning, be sure that your borrower can afford the payments at the shortest term she/he can legitimately agree to.


5) Try to keep the loan under a 10-15 year payback date. Anything over 12 years usually takes a much steeper discount then say a 10 balloon. The Note Investor generally likes to be out of an investment in 5-10 years. Ideally, if your borrower situation permits, 5-10 is the first choice. 


6) Include a prepayment penalty based on your states regulations and laws.  Go Now!


Please keep in mind; the above information is just a guide. If you have any legal questions about mortgage origination laws in your state, please consult a licensed mortgage broker/banker (in your state) or an attorney. Always be prepared!
Knowing this info before hand is the difference between a smooth transaction and a complete nightmare! Good Luck!

Related Post

Making Use Of Video Invitations to Host aDining Establishment Grand OpeningMaking Use Of Video Invitations to Host aDining Establishment Grand Opening

If you are planning a effective restaurant event in the future, then it is very important that you focus on some restaurant occasion invites rules. Actually, if you are entertaining at home, or maybe at a regional eatery, then you may consider making use of the power of social media and also creating your very own Facebook follower page, Twitter feed, and also YouTube videos. As these kinds of - devices can be made use of to create viral projects, which means obtaining your events covered by many different websites, you want to take full advantage of this possibility. Naturally, it is additionally important that you keep in mind that these are all just ways to draw in brand-new clients, so do not enable yourself to obtain as well carried away with the social media sites aspect. It is additionally vital to remember that if you are utilizing such tools that you are likely to get adverse reviews as well. Therefore, spend some time to think about what you are doing, and why you are doing it.

A great method to make use of social networks and obtain your dining establishment occasion invitations out to everyone that you want is to merely work with a virtual aide. Nonetheless, among the greatest restaurant advertising and marketing mistakes that lots of people make is working with a digital assistant who bills high prices, sends fake testimonials, and also frequently does not supply outcomes. Thankfully, there are several firms out there that offer online assistant services at economical prices. For that reason, if you are on a budget, this might be the most effective choice for you.

One more point you wish to seek when hiring online assistants is whether they are educated concerning the type of dining establishment event invitations that you are offering. For instance, if you are entertaining at your home, then you ought to pick someone who enjoys - food preparation as well as recognizes that different active ingredients and flavors go best together. This can be a difficult task, especially if you do not reside in New York or The Golden State, where there is a substantial amount of cuisine from around the globe. However, if you know that you wish to integrate a lemony flavor, lemon juice, as well as Chili pepper into your Mediterranean inspired event food menu, then it is possible to locate somebody that can compose the notes for your invites, along with produce personalized graphics for your food selection cards and also place cards. If you are employing specialists to assist you develop as well as print your food selections, after that see to it they recognize with these four crucial elements.

If you are thinking of utilizing a social media business to help you develop your restaurant event invites, after that you should recognize that employing the right people who understand just how to utilize these social media sites can be a little difficult. On top of that, you wish to keep in mind that adverse reviews are commonly triggered by misunderstandings. Consequently, prior to you begin, ensure that you have an open line with the individual who has been worked with to work with you. Simply explain that you are interested in discovering more regarding them, as well as wish to hear their actual point of views about your dining establishment. If they are reluctant to share their negative evaluation, then you need to proceed to discover someone else to deal with.

Certainly, one more element of - restaurant occasion invites is that you desire them to be memorable. As a result, if you are going to be making use of a video clip invite or an online calendar, after that you want to ensure that you customize them for your particular usage. Furthermore, if you are having someone else make your dining establishment grand opening invitations, then you require to see to it that you obtain clear instructions regarding just how to personalize the invitations. As an example, if you want to consist of a clip of appetizer, or even a brief commercial for your company, after that you want to have the ability to alter them conveniently when required.

The last element of your invites should constantly declare testimonials. If you were having a mixer invites published, then you require to have numerous visitors review the invitation before you send them out. Consequently, you may want to ask each visitor to email you their favorable evaluations. If you have a very straightforward food selection and you are anticipating just one or more people to attend your grand opening, then you do not require to bother with examining every single detail of the invitation. Nevertheless, if you are having a much larger event, after that you will wish to review every little thing word-for-word. At the end of the day, if you send out a couple of positive testimonials for your dining establishment, you will substantially enhance the opportunities that of your guests will certainly decrease in to visit your dining establishment.

How A Moving Company Can Buy Moving LeadsHow A Moving Company Can Buy Moving Leads

Understanding the Importance of Buying Moving Leads for Your Moving Company

Buying moving leads is an essential aspect of growing your moving company. It is a cost-effective way to reach potential customers who are actively seeking moving services. By purchasing moving leads, you can save time and money on marketing efforts and focus on converting leads into customers.

There are various types of moving leads available for purchase from companies such as Buy Moving Leads, including exclusive leads, shared leads, real-time leads or live phone call transfers. Exclusive leads are only sold to one moving company, while shared leads are sold to multiple companies. Real-time leads are generated in real-time and are the most valuable as they are the most likely to convert into customers.

The benefits of buying moving leads are numerous. It allows you to target specific demographics and locations, which increases the likelihood of converting leads into customers. Additionally, it saves time and money on marketing efforts, as you are only reaching out to potential customers who are actively seeking moving services. Overall, buying moving leads is a smart investment for any moving company looking to grow their business.

Types of Moving Leads Available for Purchase

Moving leads are essential for any moving company looking to grow its business. There are different types of moving leads available for purchase, each with its own unique characteristics. One type of moving lead is the exclusive lead, which is sold to only one moving company. This type of lead is more expensive but has a higher chance of conversion since there is no competition.

Another type of moving lead is the shared lead, which is sold to multiple moving companies. This type of lead is less expensive but has a lower chance of conversion since there is competition. However, shared leads can still be valuable if the moving company has a strong sales team and can differentiate itself from the competition.

Lastly, there are lead generation services that provide moving companies with a constant stream of leads. These services use various marketing techniques to generate leads and then sell them to moving companies. This type of service can be beneficial for companies that do not have the resources to generate marketing leads on their own. However, it is important to choose a reputable lead generation service to ensure the quality of the leads.

Benefits of Buying Moving Leads for Your Moving Company

Buying moving leads can be a game-changer for your moving company. It can help you reach potential customers who are actively looking for moving services. By purchasing moving leads, you can save time and money on marketing efforts and focus on converting leads into customers.

One of the biggest benefits of buying moving leads is that it can help you increase your sales and revenue. With access to a steady stream of leads, you can expand your customer base and grow your business. Additionally, buying moving leads can help you stay ahead of your competitors by reaching out to potential customers before they do.

Another advantage of buying moving leads is that it can help you improve your conversion rates. Since the leads you purchase are from people who are actively looking for moving services, they are more likely to convert into paying customers. By following up with these leads promptly and providing excellent customer service, you can build a loyal customer base and increase your profits over time.

Factors to Consider When Choosing a Moving Lead Provider

When choosing a moving lead provider, there are several factors to consider. One of the most important is the quality of the leads they provide. You want to make sure that the leads you purchase are high-quality and have a high likelihood of converting into paying customers. Look for a provider that has a proven track record of delivering quality leads to their clients.

Another important factor to consider is the price of the leads. While you don`t want to skimp on quality, you also don`t want to overpay for leads. Look for a provider that offers competitive pricing and a range of packages to choose from. This will allow you to find the right balance between quality and affordability.

Finally, it`s important to consider the level of support and service that the provider offers. You want to work with a provider that is responsive to your needs and can provide you with the support you need to succeed. Look for a provider that offers a range of support options, including phone, email, and chat support, as well as resources like training materials and best practices guides. By considering these factors, you can find a moving lead provider that will help you grow your business and achieve your goals.

How to Find Reliable Moving Lead Providers

When searching for reliable moving lead providers, it`s important to do your research. Start by looking for providers that have a good reputation in the industry. Check online reviews and ask for referrals from other moving companies. You can also check with industry associations to see if they have any recommended providers.

Another important factor to consider is the quality of the leads provided. Look for providers that offer exclusive leads, meaning they are not shared with other moving companies. You should also ask about the source of the leads and how they are verified. The best providers will have a rigorous screening process to ensure the leads are high-quality and likely to convert.

Finally, consider the pricing and terms of the provider. Look for providers that offer flexible pricing options, such as pay-per-lead or monthly subscriptions. Make sure to read the fine print and understand any minimum purchase requirements or cancellation policies. By taking the time to find a reliable moving lead provider, you can ensure a steady stream of high-quality leads to grow your moving company.

Tips for Evaluating Moving Lead Providers

When evaluating moving lead providers, it`s important to consider their reputation in the industry. Look for providers with a track record of delivering high-quality leads that convert into actual customers. Check online reviews and ask for references from other moving companies that have used their services.

Another important factor to consider is the type of leads offered by the provider. Some providers offer exclusive leads, which means they are only sold to one moving company. Others offer shared leads, which are sold to multiple companies. Exclusive leads may be more expensive, but they can also be more valuable since you don`t have to compete with other companies for the same customer.

It`s also important to consider the pricing structure of the provider. Some providers charge a flat fee per lead, while others charge a percentage of the total job cost. Make sure you understand the pricing structure and how it will impact your bottom line before committing to a provider. Additionally, be wary of providers that require long-term contracts or upfront payments. Look for providers that offer flexible payment options and allow you to adjust your lead volume as needed.

How to Negotiate the Best Deal When Buying Moving Leads

When negotiating the best deal for buying moving leads, it`s important to do your research and compare prices from different providers. Don`t settle for the first offer you receive, as there may be better deals available. Look for providers that offer competitive pricing and a high-quality online lead generation service.

Another important factor to consider when negotiating is the quality of the leads. Make sure the provider is offering leads that are relevant to your business and have a high conversion rate. Ask for samples of their leads and check their reviews and ratings from other customers to ensure their credibility.

Lastly, don`t be afraid to negotiate the terms of the agreement. Ask for discounts or special offers, such as a free trial period or a guarantee of a certain number of leads per month. Be clear about your budget and expectations, and work with the provider to find a mutually beneficial agreement. Remember, the goal is to get the best value for your money and grow your moving company with high-quality leads.

Common Mistakes to Avoid When Buying Moving Leads

When buying moving leads, it`s important to avoid certain mistakes that can cost your moving company time and money. One common mistake is not doing enough research on the lead provider. It`s important to thoroughly vet the provider and read reviews from other moving companies before making a purchase.

Another mistake to avoid is buying too many leads at once. While it may seem like a good idea to have a large pool of potential customers, it can actually lead to wasted resources if you`re unable to follow up with all of them effectively. It`s better to start with a smaller batch of leads and gradually increase as your company grows.

Lastly, it`s important to avoid relying solely on purchased leads for your moving company`s success. While they can be a helpful tool, it`s important to also focus on building your own customer base through referrals, online marketing, and other strategies. By diversifying your lead sources, you can ensure long-term success for your moving company.

How to Use Moving Leads to Grow Your Moving Company

One of the most effective ways to use moving leads to grow your moving company is to follow up with them promptly. When you receive a lead, make sure to contact the potential customer as soon as possible. This shows that you are responsive and reliable, which can help build trust and credibility with the customer. Additionally, following up quickly can help you beat out competitors who may be slower to respond.

Another way to use moving leads to grow your moving company is to personalize your approach. When you contact a potential customer, take the time to learn about their specific needs and preferences. This can help you tailor your services to meet their unique requirements, which can increase the likelihood of them choosing your company over others. Additionally, personalizing your approach can help you build a stronger relationship with the customer, which can lead to repeat business and referrals.

Finally, it`s important to track your results when using moving leads to grow your moving company. Keep track of how many leads you receive, how many turn into actual customers, and how much revenue you generate from each lead. This can help you identify areas where you need to improve your approach, as well as areas where you are excelling. By tracking your results, you can continually refine your strategy and maximize your return on investment.

Best Practices for Following Up with Moving Leads

When it comes to following up with moving leads, timing is everything. It`s important to reach out to potential customers as soon as possible after they`ve expressed interest in your services. This shows that you`re responsive and reliable, and it also gives you a better chance of closing the sale. Make sure to have a system in place for tracking and responding to leads in a timely manner.

Another key best practice for following up with moving leads is to personalize your communication. Don`t just send a generic email or make a generic phone call. Take the time to learn about the customer`s specific needs and preferences, and tailor your messaging accordingly. This will help you build a stronger relationship with the customer and increase the likelihood of them choosing your company for their move.

Finally, it`s important to be persistent but not pushy when following up with moving leads. Don`t be afraid to follow up multiple times, but make sure to do so in a respectful and professional manner. If a customer isn`t ready to commit to your services right away, don`t give up on them entirely. Keep in touch and continue to provide value, and they may eventually choose your company when the time is right.

Last Minute Vacation PackagesLast Minute Vacation Packages

Last Minute Vacation Packages for Vacation Clubs

When it comes to planning a vacation, there are a lot of obstacles in the way. The stress of finding plane tickets, hotel rooms, rental cars, and other necessities at low prices is too much for many to  bear. However, it’s quite possible to purchase these in a convenient, timely, and affordable prices. Here are some tips on how to score last minute vacation packages.

Vacation packages are deals that allow you to purchase all of the aforementioned necessities all in one easy step. You can also switch the combination to suit your needs; if you’d rather have just a hotel and flight tickets, that’s fine. You can even arrange to just have a hotel if that’s what your itinerary demands. While it’s considered much wiser to buy your packages as early as possible to avoid having them sell out, it is perfectly possible to find some deals on last minute vacation packages as well.  To find the best deals visit travel membership clubs for deeply discounted rates for travel.

Last minute vacation packages offer you more than just a way to get there and a place to stay. Some even allow you to arrange a cruise or cover smaller costs, such as tips, drinks, and meals. Others provide you with a detailed tourist guide that tells you about the popular tourist attractions and local events that will be going on during your stay.

Last minute vacation packages in particular are also extremely affordable, especially when compared to the price you would pay were you to buy each of these necessities by itself. Not only does it save you money, but you also know exactly how much you spent long before your departure. This allows you to adjust your spending budget accordingly. You may very well discover that you saved so much that you actually have money to spend on impulse buys.

There are thousands of last minute vacation packages to choose from. These include family vacations, ski trips, inclusive vacations, holiday trips, and even location based getaways, such as trips to the Caribbean or Mexico. With this in mind, you can likely see how choosing the best vacation for you would be quite overwhelming indeed. Nevertheless, it’s not a good idea to narrow your options too much, as this will give you fewer results than if you browsed with an open mind.

These are only a few reasons to consider last minute vacation packages. The best thing about these particular packages is that they tend to cost even less than packages purchased early on. However, as these do sell out at lightning speed, it’s a good idea to make absolutely sure you can buy one before choosing this type of vacation package. Learn more today!