Bryan Benson
Bryan Benson Quick Facts
Articles by this expert
SelfGrowth articles and saved writing connected to this expert.
Article
Private Lenders
Say you have a subject to. How can you give a first mortgage to a private lender if you are going to be making the mortgage payments? nnFirst things first! That is kind of a trick question because you can borrow both first and seconds from private lenders. Did you know this?nnNow private lenders come in handy when you're borrowing a second behind the subject-to loan. In fact, it will always be a second if it's behind a subject-to loan, and that is commonly used when you are b
May 2, 2008
Article
Is Your Number Important On Your Yellow Letter? Pt.2
Part IInnIn part one we talked about the importance of the yellow letter calls. The important part was not only the number being used but, more importantly, we talked about who was answering the call! nnIt is irrelevant who you use (as far as which company), but there are ones already programmed to do it correctly for you. I know there are a few of you who might still try to buck the system. You are probably, saying to yourself right now, “I think I am still going to ta
May 2, 2008
Article
Is Your Number Important On Your Yellow Letter? Pt.1
Part InnHow important is the number listed in your yellow letter - very! Many people think an 800 number is the way to go, but this is simply not the case. Think about it - you don't want somebody answering it like they are a business; you want it to sound like it's going to be you.nnAnd let’s face it; most of us are mom and pop operators. Now realistically, it may be hard to still run your business as a mom and pop type operation (and still sound somewhat professional)
May 2, 2008
Article
Watch for the Red Flag
Here is a situation for you. Say you have some property that you have bought subject to. You have owned it for a year or two and there is some pretty good equity in it. We will even take it a step further. Now we are going to add to the situation. Let’s say you have a couple of properties like this. In fact many times, you still have to give them a little bit of cash to get moving. But keep in mind, if you used a private lender to do that, that option is no longer avail
May 2, 2008
Article
How Do You Define What a Good Mailing List Is? Part 2
Part 2nnMost people become discouraged and get hung up in the response rate. The response rate is irrelevant people. What relevant is how much money did you spend, and how much did you get back? It doesn't make any difference what the response rate is... it really doesn't matter how many calls you get. nnOf course it matters if you get none! But the easier it is to define your list . . . the easier the list is to get . . . the more calls you get but the less of those calls ar
May 2, 2008
Article
How Do You Define What a Good Mailing List Is? Part 1
Part 1nnMany people worry about mailing lists, but you need to remember; with mailing lists is it not hard. There are a whole bunch of them to choose from. It truly depends on what you want to target. Say you are looking for pretty houses. And for the sake of argument let’s say you are looking in the medium price range.nnHere is some information for you. Know that 72% of the foreclosures in America Happen the first year of ownership. That is correct! nnDid you really kn
May 2, 2008
Article
Appraisals Part II
Part IInnIn part one we talked about the importance of getting appraisals. We talked about why this is important and we even looked at a situation involving the appraisal of a piece of property. You have rehabbed the property and are making the last minute decisions on aesthetics. You have gotten a realtor and are ready to put it on the market. Is there anything else you can do? You have been thinking of another situation. Maybe you can even lease it out? Is this a viable opt
April 30, 2008
Article
Appraisals Part I
Part InnTime and time again I have told people to get their own appraisals. This is what you need to be thinking. This is how your mindset needs to be. If I go out and ask somebody to get an appraisal what credibility does it have unless I go through somebody that a bank would also vouch for? nnNow you can go through somebody that a bank will take (and you probably should) but still you need to be the one doing the hiring of the appraisal. nnThink about it people! That is the
April 30, 2008
Article
War Zone Property - Part II
Part IInnRemember our war zone property? Remember the house you purchased for a steal? Now you are desperately trying to sell your home. In fact, you have made such great improvements to the whole property that if you were selling it in another location, you could get four or five times the estimated value. But that is the problem isn’t it?nnThat is whole problem you have. Now you have decided to go with a realtor. nnRemember, you have to go locally with someone who kno
April 30, 2008
Article
Facing The Opposition - Part II
Part IInnIn part I we talked about our property that was filled with mobile homes. We are ready to turn this into a residential property. Where do we go from here?nnA good engineer would be able to guide you to the highest and best use, and cost you very little money up front. Go to them and they will come up with what they think the highest and best use is, and then the feasibility of getting that done. They'll come back to you with a plan, and then they'll go to the city an
April 28, 2008
Article
Facing The Opposition - Part I
Part InnSay you have a 40-acre mobile home park, two blocks off the Gulf of Mexico in central Florida. nnAnd you have tenants. You have many, many tenants. What you really want is the land the mobiles homes sits on. Do you have any theories of what it takes to close down a mobile home park and get re-zoning to a high-rise or something like that? nnAre you wondering what to do about the time frame? How long will this take to get started?nnWell, first of all, you need to make s
April 28, 2008
Article
Criteria For Equities - Part II
Part IInnIn part one we were working on a deal. We were going over the four important criteria. The first criterion was to have a good low monthly payment. The second was making sure the property you are purchasing is in excellent condition.nnThird, you will kind of want people to be moving into the area, not moving out of the area. You will want a change to have some growth there. nnAnd four, under no circumstances take that loan personally! In case something dramatic does h
April 28, 2008