Trust deed investing is a big financial leap, so it is very important that you do as much as possible to learn about exactly what you’re getting into. The more you know, the easier it will be to get things done quickly and efficiently.
The first, and often times, overlooked, first step in beginning your trust deed investment is having an extensive knowledge about your mortgage Mortgage broker. Know that this is an area that is supposed to be their forte. This also means that their knowledge and expertise becomes your knowledge and expertise in this process, so it’s good to know about their experience, their integrity, what kind of person they are and about who they work for before any transaction is made.
The second thing to know is what the market value and the equity in the Property is as you begin your trust deed investment. You should know by now that your trust deed investment is secured by a deed of trust on the Property, which is what you borrow against. Understanding this part of the process is important. Another quick thing to remember is that your Property is then insured by a promissory note that explains the risk principal and the specific repayments required.
A third thing to keep in mind is having the documents you need ready. Having documents in ready order to provide evidence of you securing the Mortgage or purchase of the promissory note is going to make you feel so much better. Remember, your trust deed investment may be secured with either by one lender or by more than one lender or note holder. That means you should really have a written agreement and to know what you need for your trust deed investment to avoid any aggravation.
Arizona Hard Money
Level 4 Funding LLC
23335 N 18th Drive Suite 120
Phoenix AZ 85027