Andrew Shanti (Boston Fix & Flips | Optimus Capital Corp) - Friday Real Estate+ Chat Ep. 7

Friday Real Estate+ Chat Ep. 7 with Andrew Shanti from Optimus Capital Corp   We discuss investment financing options and have Andrew underwrite a couple of properties to show his process when evaluating a lending opportunity. Comment with any questions under the replays and we'll get back to you or reach out to us directly:Andrew Shanti @ http://optimuscapitalcorp.com/andrew (954) 598-4564‬ / Andrew@optimuscapitalcorp.comKarina Demurchyan @ https://linktr.ee/mybostonrealtorkarina 617-549-5503 / MyBostonRealtorKarina@gmail.comDmitriy Dribinskiy @ https://onereal.com/dmitriy-dribinski ‭(617) 240-6236‬ / dribinskiy.realtor@gmail.com REPLAYS:https://www.youtube.com/live/tyUu7IyOfE8https://www.facebook.com/MyRealtorKarina https://www.instagram.com/p/C5q8AuXuSYThttps://www.linkedin.com/posts/karinademurchyan_andrew-shanti-from-optimus-capital-corp-activity-7184624478658699265-BExS #RealEstate #RealEstateChat #realestateinvesting #realestateinvestor #Underwriting #REI #PML #Lender #HML #BuyerTips #AndrewShanti #DmitriyDribinskiy #KarinaDemurchyan #mybostonrealtorkarina #realbroker #massachusettsrealestate #MassachusettsLiving  

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Leo Foussekis, Esq, a.k.a. @thegreeklawyer - Friday Real Estate+ Chat Ep. 6

We are at Leo's sassy new office in Dedham, MA talking #MarketTrends, #NARSettlement etc Comment with any questions under one of the replays and we'll get back to you or reach out to us directly: Leo: @TheGreekLawyer | https://www.leoatlaw.com Karina: @MyBostonRealtorKarina | https://linktr.ee/mybostonrealtorkarina Dmitriy: @Dmitriy.Realtor | https://tiny.cc/Dmitriy Replays: https://www.instagram.com/p/C5Y0_9cx1qw https://www.youtube.com/live/KoeiHfQytFE?si=s7ROsoODJrLFhJy0 https://fb.watch/rjVon_DSu6/ https://www.linkedin.com/video/live/urn:li:ugcPost:7182053565387935744/ #RealEstate #RealEstateChat #Homebuyer #HomebuyerTips #BuyerTips #RealEstateAttorney #LeoFoussekis #DmitriyDribinskiy #KarinaDemurchyan #mybostonrealtorkarina #realbroker #RealEstate #massachusettsrealestate #MassachusettsLiving

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WHAT IS SELLER FINANCING?

A seller may choose to act as a lender to finance a real estate transaction. This may involve taking back a second note, or even financing the entire purchase if the Seller owns the home free and clear. Sellers would usually do this when a buyer has difficulty qualifying for a conventional loan, meeting the purchase price. It could also be because Buyer prefers to bypass the banks altogether. Seller financing differs from a traditional loan because Seller does not give Buyer cash to close the purchase as would a lender. Seller essentially extends a credit against the purchase price of the home while the Buyer executes a promissory note and trust deed in Seller's favor. If the property still has a current outstanding mortgage balance, these special circumstances must be acceptable to the lender with the first mortgage position on the property. Title or escrow company would prepare necessary paperwork after the terms are worked out between the Buyer and Seller. As a Seller considering such scenario you should thoroughly evaluate the creditworthiness of the Buyer first. Ideally, Buyer would be pre-approved by a lender and present a pre-approval letter with their offer. If they don’t qualify for a loan from a lender, you may want to understand the reasoning behind it. Fear of default makes many Sellers reluctant to take back a second note, however on the upside Seller financing can bring a higher sale price and expedite the sale. See the Internal Revenue Service website for a copy of its Publication 537, "Installment Sales." Who Sets The Rates For Seller Financing? The interest rate on an owner-carried loan is negotiable. You or your Realtor can check with a lender / mortgage broker to determine the current rates on institutional first or second loans. Seller financing typically costs less than conventional financing because Sellers don't charge typical loan fees. Interest rates on an owner-carried loan will also be influenced by current Treasury bill and certificate of deposit (CD) rates. Sellers usually aren't willing to carry a loan for a lower return than they would earn if their money was invested elsewhere, so you may want to also consult your financial advisor if you’re working with one. What Are The Benefits Of Seller Financing? Seller financing offers tax breaks for Sellers and alternative financing for Buyers who can't qualify for conventional loans or prefer not to deal with a bank. If you are a Seller, the risks you face are the same as those facing any lender: Is the borrower a good credit risk? Will the property hold enough value over time to allow for the repayment of all loans made against it? You should run a full credit check on the borrower, require hazard insurance on the property, and include a due-on-sale clause. There also are financing, disclosure, and repayment-term requirements that need to be met. I recommend you consult and work closely with a trusted real estate attorney (let me know if you need a recommendation) with experience of dealing with creative financing, including seller financing, when putting together this kind of transaction. You may also want to work with an experienced transaction coordinator (TC) well-versed in creative transaction (let me know if you need a recommendation).     Read more: https://www.biggerpockets.com/blog/creative-financing Creative Finance with Pace Morby https://www.facebook.com/groups/217210172609089 Creative Real Estate Finance✌🏼New England https://www.facebook.com/groups/1004607944167251   If you would like to explore creative financing options as a Buyer or Seller, you can save my digital card and book a 30min consultation at your convenience to discuss and strategize on your plans.   Karina Demurchyan Realtor® (est. 2008), Assoc. Broker (9555596) CLHMS, ABR, CDPE, GREEN, ASP Real Broker MA, LLC (423031) 90 Canal St, Boston 02114 617-549-5503 / MyBostonRealtorKarina@gmail.com linktr.ee/MyBostonRealtorKarina   Certifications:
 Certified Luxury Home Marketing Specialist (CLHMS)
; Accredited Buyer Representative (ABR)
; Certified Distressed Property Expert (CDPE)
; Accredited Staging Professional (ASP)
; New Homes Specialist
; GREEN. 

Memberships:
 Greater Boston Board of REALTORS® (GBREB)
; Massachusetts Association of REALTORS® (MAR)
; National Association of REALTORS® (NAR). Service Areas: Acton, Arlington, Ashland, Bedford, Bellingham, Belmont, Beverly, Bolton, Boston, Boxborough, Braintree, Brookline, Burlington, Cambridge, Canton, Carlisle, Chelsea, Cohasset, Concord, Danvers, Dedham, Dover, Duxbury, Essex, Everett, Foxborough, Framingham, Franklin, Gloucester, Hamilton, Hanover, Hingham, Holbrook, Holliston, Hopkinton, Hudson, Hull, Ipswich, Lexington, Lincoln, Littleton, Lynn, Lynnfield, Malden, Manchester-by-the-Sea, Marblehead, Marlborough, Marshfield, Maynard, Medfield, Medford, Medway, Melrose, Middleton, Milford, Millis, Milton, Nahant, Natick, Needham, Newton, Norfolk, North Reading, Norwell, Norwood, Peabody, Pembroke, Quincy, Randolph, Reading, Revere, Rockland, Rockport, Salem, Saugus, Scituate, Sharon, Sherborn, Somerville, Southborough, Stoneham, Stoughton, Stow, Sudbury, Swampscott, Topsfield, Wakefield, Walpole, Waltham, Watertown, Wayland, Wellesley, Wenham, Weston, Westwood, Weymouth, Wilmington, Winchester, Winthrop, Woburn, Wrentham; occasionally Worcester & Lowell areas, as well as Cape Cod. #BostonRealEstate #Realtor #RealEstateAgent #RealEstate #Newton #Boston #GreaterBoston #BuyHome #SellHome #Invest #REI #realestateinvesting #realestateinvestor #realestateinvestors #KarinaDemurchyan #MyBostonRealtorKarina #Connector #HaPPyBeginnings #Relocation #ISpeakRussian #Риэлтор #Бостон #ЯГоворюПоРусски #КаринаДемурчян #МойРиэлторКарина

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HOW IS THE MARKET?

You guessed it - IT DEPENDS. Where are you looking? What type of property? What is your motivation and objectives? Market is always shifting, but we can take a look at its current and past dynamics through various reports on MLS and other tools when you schedule your free Real Estate chat with me @ https://calendly.com/mybostonrealtorkarina. There is surely much pent up demand in the marketplace after a pause due to increased interest rates in 2023. As we're entering the 2024 spring market, properties are being quickly absorbed by buyers and investors. Lenders think there will be mortgage rate adjustments around the end of the spring, which will allow homeowners to refinance later this year or next year when the interest rates are likely to improve even more. Here's a Feb 8, 2024 update from lender Shant Banosian at Guaranteed Rate https://www.instagram.com/p/C3F46XIsczU. You can save my digital card and book a 30min consultation at your convenience to discuss and strategize on your plans. Karina Demurchyan Realtor® (est. 2008), Assoc. Broker (9555596) CLHMS, ABR, CDPE, GREEN, ASP Real Broker MA, LLC (423031) 90 Canal St, Boston 02114 617-549-5503 / MyBostonRealtorKarina@gmail.com KarinaDemurchyan.com linktr.ee/MyBostonRealtorKarina Certifications:
 Certified Luxury Home Marketing Specialist (CLHMS)
; Accredited Buyer Representative (ABR)
; Certified Distressed Property Expert (CDPE)
; Accredited Staging Professional (ASP)
; New Homes Specialist
; GREEN. 

Memberships:
 Greater Boston Board of REALTORS® (GBREB)
; Massachusetts Association of REALTORS® (MAR)
; National Association of REALTORS® (NAR). Service Areas: Acton, Arlington, Ashland, Bedford, Bellingham, Belmont, Beverly, Bolton, Boston, Boxborough, Braintree, Brookline, Burlington, Cambridge, Canton, Carlisle, Chelsea, Cohasset, Concord, Danvers, Dedham, Dover, Duxbury, Essex, Everett, Foxborough, Framingham, Franklin, Gloucester, Hamilton, Hanover, Hingham, Holbrook, Holliston, Hopkinton, Hudson, Hull, Ipswich, Lexington, Lincoln, Littleton, Lynn, Lynnfield, Malden, Manchester-by-the-Sea, Marblehead, Marlborough, Marshfield, Maynard, Medfield, Medford, Medway, Melrose, Middleton, Milford, Millis, Milton, Nahant, Natick, Needham, Newton, Norfolk, North Reading, Norwell, Norwood, Peabody, Pembroke, Quincy, Randolph, Reading, Revere, Rockland, Rockport, Salem, Saugus, Scituate, Sharon, Sherborn, Somerville, Southborough, Stoneham, Stoughton, Stow, Sudbury, Swampscott, Topsfield, Wakefield, Walpole, Waltham, Watertown, Wayland, Wellesley, Wenham, Weston, Westwood, Weymouth, Wilmington, Winchester, Winthrop, Woburn, Wrentham; occasionally Worcester & Lowell areas, as well as Cape Cod. #BostonRealEstate #Realtor #RealEstateAgent #RealEstate #Newton #Boston #GreaterBoston #BuyHome #SellHome #Invest #REI #realestateinvesting #realestateinvestor #realestateinvestors #KarinaDemurchyan #MyBostonRealtorKarina #Connector #HaPPyBeginnings #Relocation #ISpeakRussian #Риэлтор #Бостон #ЯГоворюПоРусски #КаринаДемурчян #МойРиэлторКарина

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