Millionaire in the Making – Casey & Christy Speer

Following is the testimonial signed by the Buyer/Tenant –

“ Casey & Christy Speer have helped us get in the home of our dreams much sooner than we ever though we could realize that goal! We considered building but found the exact floor plan in one of their homes – on the golf course and water – and on a much more desirable lot than we would have gotten on our own. They worked with us on financing to meet our needs and were very accommodating. Thank you to Casey & Christy Speer  for being willing to offer us a plan that we could achieve! We can’t wait to get into our new home and make it our own! Jon & Greg

Following is the testimonial signed by the Seller –

“Casey & Christy Speer, I now have a peace that I did not have before. Casey & Christy Speer  gave me options and customized a plan to sell my house that I could not have done on  my own or through traditional methods. We explored several different approaches and they even helped me try a couple different paths. When my short sale was not accepted by the bank, they actually came in and BOUGHT my house and I was on to the rest of my life within a couple weeks!

I cannot fully express how thankful I am for Casey & Christy Speer! Thank you again!

Doug

Dear Brian and Lynette,

We got this property under contract as an ACTS deal. We found a buyer/tenant …but the seller did not approve of them. So we kept marketing and working on buyers’ list to get another set of qualified Buyer/Tenants. In the middle of that process, the seller decided he was not going to sell ….so we let him out of the contract.

Then out of the blue (after monthly follow-up email marketing to our Sellers’ database:) he called us back and asked us to try it again. We went in with options for him including another ACTS deal, a subject-to offer as well as a listing agreement with our brokerage. We made it clear that once the decision was made, there was no going back.

As he was deciding what he wanted to do, he called and said he had spoken with his bank and was now going to SHORT SALE the property at the bank’s recommendation. After explaining to him that the feasibility of a short sale actually going through at that point and confirmation by the loss mitigator that it was highly unlikely that the bank would accept anything under the loan amount – which was above market value, he decided to sell it to us subject-to. There is not our usual equity in this deal up front that we expect; however, we decided due to the property being on the 4th hole of the golf course and on a lake, that there was opportunity for good monthly cash flow and with a long enough lease option, we would wind up with a nice chunk at the end when the Buyer/Tenants cash out. We got our attorney there immediately and had her do the closing for the subject-to so the seller really understood, no more vacillating was allowed. The deal was done. We filled the home two days later with highly qualified Buyer/Tenants in terms of monthly income and fashioned a payment plan for the NROC that got them locked in with the attorney at a signing the next day.

It was a long frustrating process with this seller; however, the ongoing automated marketing we have in place to our database provided just the top of mind nudging that was needed for him to come back to us! My mentors have with us through the whole process reconfirming our steps and strategies. We now have a beautiful home on the golf course, a monthly cash flow of $400 and a very satisfied seller that is going on with his life. The future holds continued cash flow monthly and a nice chunk at the end!

Whew… it was all worth it!

Deal specifics:

– 3 BR/2.5 Bath

– 2,180 sq ft

– On golf course and water

– Open loft design w/ bonus room

– Mortgage balance of $163,000

– Tax assessed value of $186,500

– Monthly payments of $1,118

– Sale Price of $174,000

– Monthly lease of $1,500

– NR Deposit – $1,500 paid at closing; $3,500 due in 3 weeks; Remaining $3,500 due within 6 months – Total NR Deposit of $8,500