Ron LeGrand – Big Money In Big Chunks

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What’s you learn from Big Money in Big Chunks: How to find the high end houses, get them to call your answering system then have your VA call them to screen before you get involved. Well supply the trained VA and the answering system,…

 

Author: Ron LeGrand

 

 

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Ron LeGrand – Big Money In Big Chunks

Ron LeGrand – Big Money In Big Chunks

Check it out: Ron LeGrand – Big Money In Big Chunks

Special Report by Ron LeGrand

Big Money In Big Chunks

About 80% of my current real estate income comes from beautiful homes in beautiful neighborhoods.

These homes need no rehab, we dont have to raise any money and credit is a non-issue. We dont use it.

There are no banks, committees, short sales, contractors, Realtors, appraisers or other costly entanglements and were in and out usually in less than 30 days, sometimes in less than a week.

We guarantee no loans or leases or put ourselves at risk and no outside vendors or decision makers hamper our ability to get paid on six to twelve deals a month.

Most of the work is done by VAs so its not a time sucking, life draining business performed only because we have to or else. Its fun, exciting and a business we look forward to everyday because its never boring and we deal with intelligent sellers and buyers who have money and praise us for our involvement in their life.

Weve been focusing on pretty houses (For Sale by Owners) for about 2 years now since we brought ACTS (Assignment of Contracts and Terms) to the world and during that time the things we learned have inspired a quantum leap in our business and hundreds of my students across the country.

Before I go any further, you should know ACTS is only a part of our business and frankly not where the big money is in this business. Ill get to that in a minute.

You see, everything I just described about our business is true but until recently our market was houses ranging in value from $100,000 to $500,000, mostly below $300,000. Thus the paychecks ranged from $10,000 to $25,000. Same was true for our students, probably because they felt comfortable there and thats what I taught them.

But Thats All Changed.
Now Its About
Big Money In Big Chunks

Let me explain!

Our profits come from down payments or non-refundable option deposits when we sell with owner financing or lease purchase.

On $100,000 houses our average was about $10,000 and once we got into the 2s, 3s, and 4s the deposits frequently hit $25,000 and a few higher. Plus we noticed the sellers were easier to deal with and the buyers were really excited to find such nice homes they could buy or option when they couldnt qualify at a bank. Theyd scrape up every dime they had to please us because their options were so limited. In fact, we were their only option to buy a home with seller financing or lease purchase in that price range.

That was then!!

A wise man once told me
The More Dollars You Waller In
The More Stick To Ya!

Lately we are focusing on high end houses and working with clients who are doing the same. We made some amazing discoveries. The biggest was

We Get Paid A Lot More
For Doing The Same Job!

You see, people who own houses valued over a million dollars have the same issues when selling as those with lower priced houses. In fact, some even worse.

They have to find a qualified buyer who can put down 20% and pass bank scrutiny for a loan, and today you gotta be squeaky clean to get a jumbo loan. This makes the buyer pool shrink drastically but opens up a huge opportunity for us.

Our whole business has nothing to do with bank financing. In fact, its just the opposite. I can describe it in one word

TERMS

The goal is simple

Find sellers who will sell with owner financing or lease purchaseTERMS!

We then either assign our contract to a terms buyer (ACTS) or stay in the deal for the really big paydays when we can.

When you deal with houses from $1,000,000 to $10,000,000 even the ACTS paydays are huge.

Consider this. If you can qualify to buy a $3,000,000 house youll need $600,000 down (20%). And thats if you can qualify with excellent credit and income. It doesnt take much to get turned down, even with $600,000 down.

Now suppose that same buyer sees a $3,000,000 house advertised with

Owner Financing No Bank Qualifying

People looking to buy $3,000,000 houses aint broke. They all have money but many may not qualify for a loan. Hey, Im one of them. Commercial deals gone south after the 2008 crash made meUnqualified for a bank loan. That doesnt mean I couldnt make the payment or put up a big down payment. Im not alone.

If it takes $600,000 if Im qualified then imagine the flexibility you have if you can offer this same house with terms to a so called unqualified buyer.

So its really this simple

Find the sellers who will sell with owner financing with good terms and then sell the house for a higher price, more down and more per month and keep the difference.

Example: Free and Clear House, my favorite
You agree to buy $3,000,000
Down(5%) $ 150,000
Mtg To Seller $2,850,000 3% interest only, 5 yr balloon

Payment to Seller $7,125

Relax, you dont have to come up with the $150,000 or even be responsible for a $7,125 payment or certainly never guarantee a loan. Thats the beauty of this business NO RISK!

Your seller is perfectly clear you wont be closing until youve located a buyer or sometimes we just get 90 days to close and keep the seller out of our business, thus getting plenty of time to find the buyer.

If the buyer doesnt come (extremely rare), we would simply cancel the contract. In the above example, Id do a simultaneous closing and close the purchase and sale the same day. Heres why

Buyer comes along and offers $400,000 down at our $3,295,000 asking price with no bank qualifying.

Remember theyd need $600,000 if they do qualify so they may have good credit but not enough down or poor credit and time to fix it so the sale looks like this.

Sales Price $3,295,000
Down $400,000
Buyer Owes You $2,895,000 5 year balloon
Payment to You $11,875 5% interest only

Yes, I know the payment scares you but it wont scare those looking to buy a $3,300,000 house. FYI, if the buyer borrows the same amount from a bank at 4% for 30 years the payment is $13,606.

So what have we accomplished?

Down Payment
$400,000 in $11,875 in
-$150,000 out -$7,125 out
$250,000 net to you $4,750 net monthly

The buyer owes you the same principal amount as you owe the seller but you get paid $4,750 a month to collect and make a payment on a house you dont ownand if the buyer doesnt close you get to take the house back and do it again$250,000 richer.

Do you see why Id stay in this one? I see 4,750 reasons every month and another big payday if the buyer defaults plus a potential discount on the sellers note when the buyer refinances.

Now suppose the seller wants about $11,000 a month payment and you cant see the market paying more. No good reason to stay in the deal. In that case youd simply assign your contract to buy to a new buyer (ACTS), collect your $250,000 and be out of the deal.

OK, I can hear your objections so lets list them here so were clear.

Q: Will high end sellers really owner finance?
A: Yep, about a third of them will if its free and clear and about a third will lease option if the house is mortgaged. We make six figures either way.

Q: Dont I need a license to do this?
A: Nope, not if you have a contract to buy. If you have a license you can use it too.

Q: Wont the seller get upset if I make a lot of money?
A: Not if you handle if correctly. If youll notice my example, my profit came by raising the sales price above what the seller wanted. It cost them nothing and they paid no commission. Plus if I stay in the deal, the seller need not even know what I made on the sale. Ill close the purchase and sale the same day with two different closings. The seller will never meet my buyer nor know the details of my sale. Remember, I stay in this deal. I collect a payment and make a payment until the buyer refinances and pays me off, which I hope takes a long time since I get $4,750 a month. If its an ACTS deal where I assign my contract the seller will know what I make but so far the worst thats happened is we have to renegotiate the split on the down payment. We always get at least half.

Q: Arent high end sellers hard to deal with and too sophisticated to work with us?
A: Nope. We find them easier to deal with. They get it and very little training necessary.

Q: Isnt the pool of buyers much smaller to buy these high end homes?
A: Yes, but you only need one per house and every deal has a six figure profit. However, we are seeking non-qualified buyers with money and have them all to ourselves with no competition. Do you know any investor offering a $3,000,000 house with owner financing or lease purchase?

Q: I heard Dodd Frank outlawed seller financing. Is that true?
A: Nope, you heard wrong. A few rules changed but seller financing lives.

Ill tell you this. Once you crack the code on these high end houses you wont be interested in the cheap stuff anymore.

Im going to help you do just that.

Im calling it

Big Money In Big Chunks

Heres some of the topics I covered:

  • How to find the high end houses, get them to call your answering system then have your VA call them to screen before you get involved. Well supply the trained VA and the answering system.
  • How to prescreen quickly and deal only with the best prospects and get them to commit to terms before your visit the house.
  • How to talk to the sellers, what to say, scripts weve proved to work to overcome a lot of sellers resistance to terms. In fact, well be practicing this a lot in class because we know this is the biggest hang up for our clients to overcomeYoull leave confident in your ability to make these calls.
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Ron LeGrand – Big Money In Big Chunks

Ron LeGrand – Big Money In Big Chunks

$95.00$997.00 (-90%)

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