12 Step Program for Real Estate Investors Who Need to Get into Seller Financing and Notes
I love our Virtual Coffee calls each month… they make me laugh, and I always get something valuable from sharing with people who tune in. One guy admitted to basically being a ‘real estate junkie’ and was looking to transition into notes. He wants to carry paper on some of his properties instead of managing everything as rentals.
The 12-step program below was inspired by the conversation with him.
Another refreshing chat was with a real estate professional in the Seattle area who completely understands the power of integrating seller financing strategies for the benefit of both her seller and buyer clients. She is now searching to better understand the secondary market for notes, ‘the discounted note business’, so she can add that perspective into the mix.
12-Step Program for Real Estate Investors:
- We admitted we were powerless over tenants and taxing authorities—that our lives had become unmanageable.
- Came to believe that paper could restore us to sanity.
- Made a decision to turn our will and our lives over to Dodd-Frank, as we understood Him.
- Made a searching and fearless moral inventory of our assets.
- Admitted to God, to ourselves, and to another human being the fact that we were utterly weary of managing property.
- Were entirely ready to have owner financing strategies remove all these defects of character.
- Humbly asked a 3rd party note servicing company (and maybe a Mortgage Loan Originator) to help us.
- Made a list of all profits and peace of mind we had lost, and became willing to restore it.
- Made a decision to provide the privilege of home ownership to the bank-rejected, in a way that would not injure them or others.
- Continued to receive hassle-free monthly mortgage payments, and if we didn’t, gladly received back our real estate.
- Sought through phones and mediation to improve our conscious contact with our Payors, praying for their prompt performance and when necessary, doing a work out.
- Having had a spiritual awakening as the result of these steps, we tried to carry this message to other real estate addicts, and to create gratifying private solutions to replace the gaping holes left by Washington and Wall Street.
[Here’s an old 12-step program I found from 2009]
Please feel free to tune into future calls, which are usually on the last Saturday of every month. We talk about anything related to owner financing and notes. Upcoming events of all types are listed on our Facebook Events page, and we send out email reminders every month to those who have chosen to opt in and download the “Seller Financing on Steroids” book up above, or sign up for our Property & Paper newsletter.
To be directed to our archived calls, please click the image below: