Make sure you work with a specialist, especially if you are just getting started. Here are a few items  you’ll want to consider when executing a Land Contract transaction:

• Raw land disclosures (septic, power, etc.)
• Give the buyer a full property disclosure and have them sign that they have received and understand it.
• Requirements for raw land (plat requirements, build date requirements, etc.)
• Should you file a Statement of Ownership or similar document at the county?
• Are there state requirements on this type of transaction? (example would be Texas Property Code requirements)
• Make sure you provide an annual accounting statement by January 31 of each year to your buyer.
• Keep track of ALL dates for documentation, correspondence, and discussions – these could be important in future claims for conversion
• If Spanish language is used during negotiations, you must deliver Spanish language documentation.
• Have you recorded your sales contract? Does your state require that you do so?
• In most states, sellers are required to maintain fee simple title.
• Are there state restrictions on selling properties without water and sewer?

As you can see, dealing with property is not something for the novice. Consult with a qualified real estate attorney, seller financing specialist, or outsource many of the more technical tasks to a competent party.

Make sure you work with a specialist, especially if you are just getting started. Here are a few items  you’ll want to consider when executing a Land Contract transaction:

• Raw land disclosures (septic, power, etc.)
• Give the buyer a full property disclosure and have them sign that they have received and understand it.
• Requirements for raw land (plat requirements, build date requirements, etc.)
• Should you file a Statement of Ownership or similar document at the county?
• Are there state requirements on this type of transaction? (example would be Texas Property Code requirements)
• Make sure you provide an annual accounting statement by January 31 of each year to your buyer.
• Keep track of ALL dates for documentation, correspondence, and discussions – these could be important in future claims for conversion
• If Spanish language is used during negotiations, you must deliver Spanish language documentation.
• Have you recorded your sales contract? Does your state require that you do so?
• In most states, sellers are required to maintain fee simple title.
• Are there state restrictions on selling properties without water and sewer?

As you can see, dealing with property is not something for the novice. Consult with a qualified real estate attorney, seller financing specialist, or outsource many of the more technical tasks to a competent party.

We have already sourced two very promising investments – one a rehab project with over 100% returns available and the other a note portfolio yielding 20-24% as is with additional upside potential depending upon exit strategy chosen.

Trinity Holdings I

Trinity will be a private placement offering to sophisticated and accredited investors wanting us to manage their capital that will be allocated to the purchase of distressed real estate, performing loans, and non-performing loans. While we can’t disclose profit targets in a public forum, we believe them to be impressive for most investors and a great fit for investors with retirement or other assets not currently working for them.

Iteration 1 of Trinity Holdings will be $1,000,000 of which $300,000 is already subscribed. While the remaining $700,000 is raised, investments will be made with the capital on hand. This is an exciting time for Trinity as well as Fisk Financial, offering unlimited upside potential.

Stay tuned for new improvements to Fisk Financial offerings to our stakeholders!

This opportunity will allow Fisk Financial’s reach to expand exponentially through strategic networking with investors in various markets throughout the United States and Canada.

This gives credence to our strategy of acquiring distressed assets and defaulted notes, a strategy that is proving itself consistently and not just in our own portfolio.

While interest rates remain at historical lows, the availability of that capital is severely limited by secondary market buyers. During the “golden years” of real estate bubble booming (2000 to 2006), credit was relatively cheap and incredibly easy to access as seen through extremely aggressive loan products like NINA, SISA, Option Arm, and 125% loans. The reason these were available was that there were hundreds of secondary market buyers for these types of loans. Their assumption was that despite the high risk of default in these products, the property value would more than make up for any shortfall created through lax underwriting.

Today’s Secondary Market

Today’s secondary market consists of four players. The rest of the industry has since evaporated for the most part – falling victim to over-aggressive purchasing of subprime products, not having adequate funding, and assumption-driven exit strategy.

The remaining secondary market buyers are Fannie Mae, Freddie Mac, VA, and FHA buyers. If a new loan doesn’t qualify to be sold to one of those programs, the loan is not originated. This creates a lot of opportunity for a seller-held note and a secondary market buyer of seller held notes.

This is our target for the rest of 2010.

Capitalizing: Two Ways

• First, through a growing network we have been developing during time on the road with various seminar companies, we will focus on acquiring distressed assets from banks and mortgage servicing companies.
• Second, we will put a plan in place to develop a system for acquiring defaulted and even performing debt as another avenue to property ownership.