Are you looking through 100 deals only to find one that works? Rather than discarding the 99 others, why not figure out how to make them work? If this unconventional approach to deals sounds intriguing, then today’s guest will certainly pique your interest. Eddie Speed is a discount note buying veteran who is on a mission to help people create seller-financed notes.
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In this episode, Eddie sheds light on this creative financing approach he takes to structuring deals. Through developing innovative techniques, where the seller carries creative financing, he has shifted many investor’s mindsets from a ‘can’t do’ to a ‘how-to’ attitude. Eddie’s model is not a one-size-fits-all approach as each deal has specific circumstances that will inform how it needs to be financed. Instead, it offers an alternative entry point for buyers who want to pursue properties where they cannot figure out price or cashflow. Eddie walks us through the possibilities of how deals can be structured, why terms and options are buyer’s biggest bargaining chip, and much more. Be sure not to miss out and tune in today!
Key Points From This Episode:
- Eddie’s background and the creative financing and solution finding work he does.
- Sellers are going to agree to terms that would be impossible from a traditional bank.
- Some important points to consider before entering into negotiations with the seller.
- Eddie outlines some of the different creative seller financing possibilities.
- Why Eddie’s work helps sellers move past their price fixation.
- How Eddie has managed to learn so much in two years.
- Advice that Eddie would give to himself 30 years ago and tips for those entering the market.
- Staying innovative is Eddie’s best defense against the predicted downturn.
- Why tenacity and not brilliance has contributed most greatly to Eddie’s success.
[bctt tweet=”Sometimes, you can fix a real estate problem with cash and sometimes you can fix a real estate problem with creative financing. — Eddie Speed” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Eddie Speed
Eddie Speed is a 30 plus year veteran and expert in the discount note buying industry. He has purchased over 40,000 performing and non-performing real estate and secured notes with total dollar value exceeding half a billion dollars, giving him an unparalleled track record in the industry. Eddie has acquired and honed marketing and negotiation skills through which all types of note sellers have been sourced – and served. His tenure in the business also means he has weathered dramatic real estate cycles and prospered through them. He has partnered with many real estate companies to design and implement effective seller finance programs, notably, HomeVestors of America (“We Buy Ugly Houses”) where they constructed a comprehensive in-house program covering sale structure, buyer due diligence, loan servicing, and loan re-sale in the secondary market — a complete solution!
As the founder of NoteSchool™, Eddie’s immense range of experience is packaged into comprehensive training programs, available in home study courses, live seminars, and ultimately mentoring programs. He has never seen the opportunity for growth he sees today in the note industry. The inventory imbalance of Notes vs REOs (few 100 thousand REOs vs many millions in NLPs) has triggered the greatest opportunity in buying discounted notes the industry has ever seen. By far! Plus, there’s a huge supply of discounted performing notes that are available as well. He has given hundreds of educational speeches to real estate and note professionals, and available on a limited basis for speaking engagements. Via live presentations or webinars, NoteSchool’s NotePros™ are available to educate and assist real estate agents and brokers, mortgage brokers, builders, investing clubs, REIAs, on buying both, performing seller-financed notes as well as non-performing loans “NPLs”. His specialties include seller finance note expert, note buyer, author, award-winning training designer, public speaker, educator, consultant.
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