WATCH ME Explain Creative Financing To A Seller (while eating ribs)

Рет қаралды 14,754

Жыл бұрын

In this video, Jerry breaks down creative financing directly to a seller.
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Jerry Norton went from digging holes for minimum wage in his mid 20's to becoming a millionaire by the age of 30. Today he's the nation's leading expert on flipping houses and has taught thousands of people how to live their dream lifestyle through real estate.
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Пікірлер: 99

@bryandlr03 Жыл бұрын

the video we were all waiting for!!!… if Jerry could hop on calls while eating a meal, there’s no excuses as to sit there and make calls 🤣🤣

@metalboy27 Жыл бұрын

I heard a guy on the BP podcast who runs a pretty successful wholesaling business, when he first started out with cold calling, he would drink beer to calm the nerves and play video games while he called. I may need to try the beer part, but I feel like the video games might be too distracting for me lol.

@markmfalme Жыл бұрын

This pure gold. Baller stuff. The highlight of it is your beautiful daughter joining in on the action. Epic stuff. Thank you Jerry.

@itssuave714 Жыл бұрын

I’ll be on your channel this year for a interview, mark my words now

@carlospinedainvestor Жыл бұрын

I closed cash deals all day long, ... With the market changing, I've been pitching the creative finance since october last year and when I call I'm with my notepad, calculator, every single bit of information open and available and 100% concentrated with a script and all .. My goal is to be able to talk this naturally while eating and having my kid around without losing focus, that just shows how comfortable and knowledgeable he is to be able to continue the conversation with all these things going on around him

@currently9143 Жыл бұрын

Do you need help with calling? I can help out!

@TheLaTonyaThompson Жыл бұрын

Thanks for giving us a mukbang with the interview. I loved it. Your daughter is beautiful also.

@damonjcrawford Жыл бұрын

The Seller is being paid each month on the $54K second mortgage. That's monthly income, which can be reported to the new lender as household income. That second mortgage is paper the bank will understand and regard as golden. With the debt-to-income statement, that application will look pretty attractive to the new lender. Probably.

@andrewhartell Жыл бұрын

9:44 I’m a mortgage lender and I’ve worked for several banks; if someone has guaranteed a closed-end loan, there has to be at least 12+ monthly payments made by another party before a lender will consider that loan “paid by someone else”. (This is the same scenario as if someone were to co-sign on a loan). The only way a lender would consider those payments being covered by a different party, is if there was a new lease on a departing residence. Otherwise there has to be 12+ month payment history to verify the payments being made. Am I missing something? Great video as always Jerry! Just trying to get a better handle on this as this has been a sticking point on some CF deals I’ve pitched.

@okaygunnar Жыл бұрын

jerry you are a prime rib genius

@Kazan0505 Жыл бұрын

The parent in me is dying seeing her touch the ribs and then touch your shirt 🤣🤣

@onaedo.s.thoughts 11 ай бұрын

lmao me too 😂

@user-ds2rd2oq1r 5 ай бұрын

What I would say, is this, lol “come on, sir, you’re the king of the house, this is the 21st Century, everything equates, happy husband equals, happier wife“

@troyweyerstrass7312 Жыл бұрын

I love your videos Jerry! It makes me realize how far I need to go 😞. Thanks as always! I’m trying to learn fast.

@user-ds2rd2oq1r 5 ай бұрын

Basically, if the seller has a problem with no balloon for the subject to, you taking over their mortgage payments, simply tell them within the span of 7 to 9 months, according to Fannie Mae guidelines, our third-party note servicer, who we give the money to to make those constant payments per month on your mortgage payment, Will show a rent roll to your mortgage provider. This will show that the property is gaining income of which they will take that off of your debt to income ratio within 6 to 7 months of consecutive payments, even though your name will still be on the mortgage, as well as you still reap all the benefits in regards to your credit, they will also recognize us as the new debtor.

@ritahall3537 Жыл бұрын

I’m so loving the videos for 2023 , jerry you’re amazing 😂

@Fume1337 Жыл бұрын

Thank you for showing everything Jerry. This helps a lot. 🙏

@sharonbrooks1820 Жыл бұрын

Okkkkkk My Kings and Queens point blank knowledge is powerful Love ❤️😂❤

@sergiochacon6743 Жыл бұрын

Jerry you are a flipping genius as always thanks for the great consistent content you changed my life forever.

@2centtv25 Жыл бұрын

Finally!!! Thank you Jerry 💪🏾

@DatSure Жыл бұрын

Thanks for the video Jerry. Can you please do a whiteboard on the deal and explain more about the septic system not passing how how you will handle that and how you calculate in the long-term profit to cover that. I've dealt with septic systems in the past and they can be upwards of $60k to fix when the fail.

@FlippingMastery Жыл бұрын

Great idea

@alexlesley97 Жыл бұрын

This is great information!!!

@blake8ism Жыл бұрын

Great video!

@johnpenninc.1390 Жыл бұрын

Hey Jerry, awesome video. Do have a previous video that talks about documenting seller finance. I'm tryna see how you have that in writing.

@albinothug Жыл бұрын

Masterclass 🔥

@jeremyharlow9886 Жыл бұрын

Great call Jerry! Hahaha.. use this one next time for anyone who moves or lives in Oklahoma… Do you know why the dirt is so red in Oklahoma?… They usually ask why? Answer back: Because it’s embarrassed to be there too! 😂

@NickinNashville Жыл бұрын

Omg please more of these

@imeldainterino7747 2 ай бұрын

Wow! Great phone script sounds like P Morby, lol! This helps a lot because we may have to assign a subto deal for you Jerry! A million $$$ property in Temecula, CA!

@RealEstateInvestingMadeEasy Жыл бұрын

It's a working-lunch. I'm now motivated & hungry! 🤣Great breakdown, Jerry! 👏

@johnatangarcia4043 Жыл бұрын

Your a top G man

@adamweatherly5018 10 ай бұрын

“I don’t wanna talk to those knuckleheads” lol so true with agents in regards to sub to.

@jjsupremeorta15 9 ай бұрын

You said it. To them it sounds like rocket science.

@merchant297 11 ай бұрын

wao - good job jerry

@edmandell3064 Жыл бұрын

Great Video! How did you come across the owner before speaking to the listing agents ?

@devagana9795 Жыл бұрын

Ribs @2:05 Great video Jerry thanks this keeps me going!!!!

@Bentam64 Жыл бұрын

What a boss move!!!!

@sandracarrizales842 Жыл бұрын

Jerry is a flipping Genius

@carlosbarron1284 Жыл бұрын

When are you opening the new Ribs Restaurant Jerry S Ribbing Genius Smokehouse!

@FlippingMastery Жыл бұрын

😂😂😂

@RocEProductions Жыл бұрын

Flipping genius jerry

@lindseyellenwood Жыл бұрын

Can you make recommendations on the third parties you use to manage the payment services? Thanks!

@anthonylemus2796 Жыл бұрын

I have a question about your arv calculator even after I’ve adjusted everything it’s telling me to offer super low offers(100k+ less) compared to what PropStream says the property is worth as is. Should I add money to it or just keep offering what your calculator says?

@Weresdiaz92 Жыл бұрын

Jerry eres un genio

@bryea8503 Жыл бұрын

Who do you use for the legal filing?

@TheLisaDeesDelightsShow Жыл бұрын

It’s the ribs for me 🤣🤣

@Miguelphx Жыл бұрын

Awesome

@Leo.KillerOfBaseballs Жыл бұрын

What’s the home school curriculum you use and what’s the biggest marketing strategy you are doing? Agent out reach? Mls?

@dennisnewton9384 Жыл бұрын

Jerry what about the repairs to the septic? Or repairs in general, do you just plan to put a certain amount of cash into rehab of the property. Thanks buddy

@IsraelZavala Жыл бұрын

I know your saying your not assuming the loan but this sounds very close too it, what would this be called and would the bank holding the original loan allow it?

@RyanRomo 10 ай бұрын

Great call but the ribs were stressing me out lol!!

@John-gy1vv Жыл бұрын

So after cash buyer signs assignment contract, do you email that contract to escrow?

@FlippingMastery Жыл бұрын

Yes

@jingyuyao8688 Жыл бұрын

Awesome! Thanks for sharing. I have a question: Can I sub-to a USDA loan?

@FlippingMastery Жыл бұрын

Yes

@Fernando_chavira__ Жыл бұрын

Jerry literally doesn't have anything else to teach us, he's resorted to eating ribs while doing it for entertainment hahaha jk jk love this video! keep it up!

@Tonnyy11 Жыл бұрын

Did y’all see that baby pterodactyl 🦅 come in for the T-bone?

@FlippingMastery Жыл бұрын

😂😂😂

@tomwashingtonjr848 Жыл бұрын

Fantastic ❤Jerry … you’re a flipping genius 🎉…even while your eating (yum) & dealing with your beautiful daughter… love it ❤

@TELGRM-MARKBENSOH Жыл бұрын

God is so wonderful me and my family. I can now trade without been scared all thanks to MARKBENSOH for getting me $19679 profit they have done for me

@TheTonyPodcast 11 ай бұрын

Where can someone find a 3rd party payment service to coordinate all of these payments and incoming rent?

@cogmentation656 Жыл бұрын

This is awesome! One thing that is confusing me that I would love some insight on: When you take over the existing mortgage, I assume you then rent the property out in order to both pay the mortgage owed to the bank, as well as include some cashflow. How are you then simultaneously making payments to the previous owner/seller (in this case the $54,000)? I assume you cant make payments to both at the same time while also cash flowing the property without coming out of pocket. Also, on top of that, by the time you reach your balloon period, do you just cash-out refinance with the bank in order to fully pay the previous owner? How do you do that if the mortgage stays in their name? Wont this also raise your mortgage rate to a point that it might not cashflow despite the renters living there? Let me know if I'm mistaken in my overall grasp of this deal/subject. Would really appreciate a quick explanation.

@chrisl8950 Жыл бұрын

He is wholesale and is putting this deal together for both the seller and his client (the buyer). The buyer might flip it with a reno + refi to close out all his debts or as mentioned as well on sale of the property on the market buy the new owner, the new loan will pay off the previous loan. Buyer can also hold the loan the whole 5 years and then pay the rest off but it will likely be closed out by the investor after he can get it past the inspections and loan is approved on the fixes

@doctorbanks8252 Жыл бұрын

How can we put it cut and dry on paper? Hybrid is subject to and seller financing. So buyer pays closing, agents, and any past due payments upfront and the house is signed over to the buyer and mortgage stays in the sellers name. Then buyer pays monthly payments on sellers mortgage. When sellers mortgage have ended, than the remaining payments are paid to the seller.

@FlippingMastery Жыл бұрын

Correct

@alexlesley97 Жыл бұрын

How can I buy income producing property in Puerto Rico??

@Ricebow11 8 ай бұрын

Any scripts to deal deals with agent? Some sort of reference points be great

@FlippingMastery 8 ай бұрын

👍 Here you go! FREE Agent Double Dip Scripts flippingmastery.com/asyt/ Once you enter your email, it’s automatically emailed to you. If you don’t see it, check your junk/spam folder in case your email provider put it there...If you still don’t see it, my team can help you out. Support@flippingmastery.com

@katelynmoreno1804 Жыл бұрын

I don’t understand why you would offer to buy a property at full price with a huge issue like a non functioning septic tank. What value does that give you?

@yurrr4338 Жыл бұрын

Can creative financing be done for free as a beginner or do we pay the loans. I’m just learning about it today.

@RealNiggaKazutoKirigaiTheThird Жыл бұрын

I would recommend watching the creative master class on jerry’s channel it’s a playlist

@Evanjgross Жыл бұрын

Is the transaction coordinator Constant Close?

@FlippingMastery Жыл бұрын

Yes

@paulhorton7663 Жыл бұрын

I took a note on this somewhere, Jerry, but I can't find it. Can you please share the name of your transaction coordinator and the loan servicing company you work with? Thanks.

@FlippingMastery Жыл бұрын

Here you go! Rashell Jarvis American Home Offers, LLC Transaction Manager rashelljarvis@gmail.com

@paulhorton7663 Жыл бұрын

@@FlippingMastery Thanks very much!

@neckhammockothermusthaves7476 2 ай бұрын

SIDEBAR! Okay... The MAN is the HEAD of the household! Not the most popular thing to say in 2024 but it THE way to have a PEACEFUL household! My dad would have NEVER said; "happy wife, happy life"! And they were married for 48 years until he passed away! Even the Bible instructs MAN to LEAD! Just sayin'. Signed... a married woman! :)

@BD-rs8qx Жыл бұрын

Jerry, it look like this is a preforeclosure based on payoff and and it will require a big amount than you estimated for a reimbursement.

@FlippingMastery Жыл бұрын

Seller isn’t behind at all

@BD-rs8qx Жыл бұрын

@@FlippingMastery then, it shouldn't have this large escrow shortage....

@michaelbatista2869 Жыл бұрын

Escrow overdrawn? Wow

@ScreamingBanchie Жыл бұрын

So did you go around the agent and talk straight to the seller? 😂 Usually they insist to go through the agent.

@finesse_god_rion6587 Жыл бұрын

Let’s gooo

@MaintenanceCoordinatorWOC Жыл бұрын

Ok Jerry grubbing on the ribs along with your cute daughter.. One question where is the BQ sauce?

@FlippingMastery Жыл бұрын

😂😂😂 i like dry ribs.

@deanmarten Жыл бұрын

Your daughter is adorable. Lmbo. That's cool

@TELGRM-MARKBENSOH Жыл бұрын

God is so wonderful me and my family. I can now trade without been scared all thanks to MARKBENSOH for getting me $19679 profit they have done for me

@user-ds2rd2oq1r 5 ай бұрын

I understand Mr. SELLER you need to talk to your wife, but let me ask you something does this idea makes sense to you, are you excited about the idea? (Stay quiet) Seller: Well of course, yeah You: Exactly, and the true beauty is that you’re finding a solution almost immediately rather than having your homes sit on market, as you see the craziness in today’s Real Estate, I’m sure this decision will eliminate a lot of stress, worry and anxiety of not being able to sell your house for the price you want. Am I right? Now, As far as my team goes, we do 3-4 deals like these every quarter, everything from residential (like your situation) to commercial large multi unit complexes, with 100% efficiency and high credibility with references from agents, sellers like you, and investors nationwide. So if we can make a decision today, believe me, the only regret, the wife will have, is that you didn’t reach out to me sooner to get this in writing. Sound fair enough? {quiet}