FREE, FREE, FREE!
This Wednesday night, Bill shows the difference between Walking the Mortgage, Stumbling the Mortgage, and Walking the Note.
(Read below to get a jump on Wednesday night!)
WHAT BOX? 2023
FREE 4-session series Deal School
with Bill Cook
WEDNESDAY, AUGUST 30th 7PM-8PM EST
When you hear 'ADVANCED' Creative Deal Structuring, what comes to mind?
Perhaps it’s a creative tool like Walking the Mortgage. Fine, now let’s take it a couple of leaps forward. Have you ever heard of Stumbling the Mortgage? Here’s one that’s sure to raise an
eyebrow: How about Walking the Note?
To answer your FIRST question: Is Walking the Mortgage and Walking the Note the same thing? Nope, not
at all. They are two completely different deal structuring tools that accomplish two completely different tasks.
How are they different, and what does each
accomplish? Join us at our third free ADVANCED creative deal structuring Zoom classes on Wednesday, August 30, 2023, from 7 PM to 8 PM EST to find out.
We will not waste your time! To prove this, here’s a brief writeup of
Walking the Mortgage and Walking the Note. It will help you to understand what these two ADVANCED creative tools can accomplish, and why you need to know how to use them.
Walking The Mortgage: Several years ago, Kim and I decided to sell one of
our “C” rental properties. Our purchase financing on this property came from one of our Private Money Lenders. It was a 20-year secured note for $55,000, at 4.37% compounding interest, with monthly payments of $344.11, with 17 years left to pay, and a balance of $49,314.61.
We loved the terms of our Private Money Lender note and didn’t want to pay it off. To boot, our lender loved earning an interest rate that was more than twice as much as what his bank’s savings program paid, therefore he didn’t want to be paid off.
Here's how we
solved this problem. When we sold our “C” rental, the Private Money Lender’s note was NOT paid off. Instead, our lender agreed to accept a DIFFERENT property as collateral for his note. The new collateral property was one of our “A” properties with a fair market value substantially higher than the “C” rental we were selling. In other words, our lender ended up with much better security.
To make this happen, at closing, our Security Deed (Mortgage) on our “C” rental property was Satisfied, but our Private Money Lender note was NOT paid off! Instead, we signed and gave a NEW Security Deed (Mortgage) that secured the lender’s note to our “A” rental
property.
Results: We were able to keep all the cash from the sale of our “C” rental property and use that money to pay off several institutional mortgages, which greatly increased our monthly cash flow. Our Private Money Lender continued to receive $344.11
each and every month from a note that had greatly improved security.
Walking the Note: In 2016 and 2017, Kim and I sold 28 of our 35 single-family rental homes. One was sold for cash, and 27 were sold by giving owner financing. In other words, as
investors, we moved from houses (rentals) to paper (notes) while keeping our best rentals. We implemented this structure because as Kim and I get older, the value we put on TIME continues to rapidly increase! We wanted to escape property and tenant management and gain TIME which would allow us to travel full time in our motorhome seeing every corner of America.
By 2020, the 27 properties we sold in 2016 and 2017 with owner-carried notes, had skyrocketed in value. We hadn’t anticipated this happening. The rapid appreciation caused three of the families we sold to to sell their homes so they could pocket a substantial profit!
Unexpectedly, the sale of these three homes, which paid off the owner-carried notes we held, had HUGE tax consequences for Kim and me. Because these properties had been our long-time rentals, the capital gains tax bill demanded by the IRS wiped out our losses carried forward, plus forced us for the first time in more than 20 years to write both the state of Georgia and
the federal government large tax checks.
To prevent this tax hit from happening, there were several structures I should have implemented when selling these properties but failed to do. After the fact, I turned to Pete Fortunato, the wisest, most experienced, and most
creative deal maker in the land for advice. Pete asked, “Bill, why didn’t you just walk the note?”
The fellas at Pete’s McDonald’s that day will tell you that it took Pete five times to explain “Walking the Note” before I fully understood the technique. How I wish I had this
tool in my tool box before those three owner-carried notes paid off.
Because of the length of this writeup, I don’t have room to explain a “Walking the Note” deal. If you want to see this creative technique in action, join us Wednesday, August 30, 2023, from 7 PM
to 8 PM eastern. In addition, if there’s time, I hope to touch on “Stumbling the Mortgage,” which is a deal we did with Dyches Boddiford.
Our third of four FREE Zoom schools starts Wednesday, August 30th, 2023 from 7pm - 8pm
EST.
Each zoom call will be recorded
and given to those who register for this free event!
We have limited space in the zoom room, so be sure to register quickly! Just click the link below ~ easy breezy ~ but do it FAST!
Did you miss the first two nights of Bill's Deal School? Never fear, you can watch it here: https://billandkimcook.com/what-box-school/
Register for all 4 weeks of the FREE Zoom School with just one click:
TO JOIN FREE
ZOOM MEETING click on this link:
https://us02web.zoom.us/meeting/register/tZYpdumqpjItEtEfH1MmSSSlv-40B4znDMTt
After registering, you will receive a confirmation email containing information about joining the meeting.
Then pack your flip-flops and your brilliant brain and join us in Tampa, Florida for Bill and Kim's Wealth-building, Life-changing,
What Box? 2023 Seminar
on September 16th & 17th, 2023.
For more information on What Box? 2023, click HERE.
Why is the What Box? Seminar a
'Must Attend' Event?
What Box? 2023 is not just about learning how to use Structure Stacking to make written offers. What Box? 2023 is about ADVANCED creative structuring ~ whether you are the buyer, seller, lender, borrower, landlord, tenant, etc. It's a one-of-a-kind seminar that's geared for EXPERIENCED real estate investors.
If you've attended one of our What Box? Events in the past, then you know Bill Cook gives his heart and soul to make What Box? the best, most information-packed, deal-structuring event on the planet.
If you are an
experienced real estate investor who wants to be an outstanding creative dealmaker, then this is your gotta-be-there event!
You will learn
structuring techniques that will blow your mind and help you leave your competition behind!
Bill Cook's What Box? Seminar teaches you how to use multiple deal structuring tools to solve a problem. 'Won't work that way? No Problem, let's structure it this way!'
To accomplish this, you need to know how to ask the hard questions, then listen and create T-bars based on the seller's problems. But to do this, you must have a working knowledge of multiple ways to structure (solve) a problem that is agreeable to all.
Come spend the weekend with Bill Cook and your closest real estate friends. The networking opportunities alone are worth the trip to sunny Florida!
ADVANCED Topics
We’ll Cover at the
What Box? 2023 Seminar:
- What’s better ~ houses or paper?
- Advantages and Disadvantages of selling a real property and giving owner financing (HINT: GEPA!!)
- How to capture a property’s appreciation and cash flow AFTER you sold it
- Lenders: How to share in a property’s appreciation and cash flow
- Pure Options ~ vitally important in the coming chaos!
- Why 121 Deals can be the best TAX-FREE real estate investing technique on the planet
- The best paperwork and entities to use to transfer transactional benefits
- The importance of understanding real estate title
- How to defeat the threat of a lawsuit before it begins
- The difference between a
Promissory Note, Equity Sharing Note and Purchase Money Note
- The difference between Walking the Mortgage and Walking the Note
About Bill Cook:
Bill and Kim are a husband-and-wife real estate investing team. Bill is one of the best, most experienced creative deal structurers in the country. He has helped solve buyers' and sellers' real estate problems for decades.
And investors across the country call Bill when they need help. Bill knows how to break complex deal-structures down and make them easy to understand and implement!
Investing since 1997, their core belief is that real estate investing is not about buying, selling, or renting houses. It's about helping people solve their real
estate problems! Their investment portfolio consists of single-family rental homes, mobile homes, and a small mobile home park. In addition, they own notes, options, stocks, precious metals, and crypto currency.
Join us at WHAT BOX? and be a part of something special! Bill Cook's What Box? Event is unlike any class you've ever taken before. The deal-structures discussed are real deals and the documents and paperwork are provided in the
Manual.
What Box? Seminar
Register TODAY!
~ $597 - in Person or
Zoom
~$397 - Prior What Box? Attendee
~ $397 - Bring a Friend
Hope to see you WEDNESDAY night, August 30th in the Zoom Room!
Call Kim Cook at 770 815-8728 for more details on the What Box? 2023 2-day Seminar or visit www.BillandKimCook.com to register online.
