Renegotiating Private Money With Better Terms

With current 5 year CD rates at 2.94%, and dropping, one of the things we’ve been doing is replacing a lot of our private lenders that are at 10, 12 and 15% interest rates with MUCH lower rates. Just think about how much money you, as the real estate investor and holder of the property, could save if you replaced all your 12% money with let’s just say 7%. That’s a 5% savings each year and on just a $100k home that is a $5,000 savings. So, how exactly do you go about it? Read more

Dealing with difficult community members

Any of you that have been buying and selling houses must have run into a situation that you have to deal with difficult members of your community.  In my real estate business, we get people complaining usually about 1 of 2 things.  Either they are mad because we’ve sent them a direct mail postcard advertising that we buy houses or they are mad about a bandit sign out on a street where they shop.  On the direct mail complaints, we always wonder if they get mad at Domino’s pizza as well for sending them coupons monthly?  Here’s my point, its first class mail and we paid to send it so throw it out if you don’t like our offer.  Not a big deal.

Well, recently we received a “nice” email from a member of a community in which we have a home for sale….See what he wrote and see my response:

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