Next: See how we screen the properties.
What’s Already Happened
- The borrowers have already:
- Given the trust notes secured by first mortgages,
- Set up automatic loan payments, via Zelle, and
- Set up automatic deposits for property taxes.
- The properties have already been:
- Screened,
- Inspected,
- Videoed, and
- Valuated.
What You’ll Get
You’ll get the:
- Notes,
- Mortgages, and
- Income streams:
- Automatically sent, via Zelle, to your bank, with
- Payment dates tied to the borrowers’ paydays, and
- A pre-closing test micropayment from the borrower, via Zelle, so you know your income stream will go directly into your bank account.
Full Documentation
All the documentation is already done. You’ll be able to review it before you commit to your investment.
Recorded and Certified
Your assignments will all be recorded in official government records, with title certified, and done through closings, with no closing costs to you.
Title Certification
For these small deals, traditional title insurance is not practical. Instead, we use attorney opinion letters, commonly called AOL’s, which meet Fannie Mae standards, with two exceptions: we include manufactured homes that are titled as real estate, and we don’t usually bother with surveys.
The AOL’s are fully insured by the attorneys’ errors and omissions insurance. The title claim process is simple and meets Fannie Mae standards. We’ve been successfully buying real estate without title insurance since 2018.
Full Recourse
If the borrowers don’t perform, the trustees are still obligated to you.